Well-being in Retirement: Examining the Role of Retirement Resources, Moderated by Gender and Caring for Grandchildren

Abstract

We examined the impact of financial resources (FR), health resources (HR), social resources (SR) and psychological resources (PR) on retirement well-being (RWB) among older adults in Malaysia. Using a quantitative approach with non-probability sampling, a self-administered questionnaire was distributed to individuals aged 60 years and above, yielding 166 usable responses. Data were analysed using multivariate regression analysis based on their diverse backgrounds. The findings reveal that all four types of retirement resources significantly and positively affect RWB, with PR emerging as the strongest predictor, followed by FR. Gender moderates the relationship between FR, SR and PR, and RWB, indicating that men’s RWB is more influenced by FR and PR, while women benefit more from SR, though excessive SR can lower their RWB. The moderating effect of caring of grandchildren (CG) is insignificant for most resources except PR, where non-caregivers require strong PR to achieve similar levels of RWB. The findings highlight the importance of enhancing psychological resilience, financial resilience and social support among older adults. Practical implications include promoting health and wellness programs within the private sector and developing targeted policy interventions to strengthen retirees’ overall well-being and quality of life in Malaysia.