Lifestyle as a Predictor of Socio-Economic Status in Retirement

Evidence from Pensioners from the Busoga Sub-Region, Uganda

Authors

  • Mwosi Fabian Ph. D. Student, Nkumba University, Uganda
  • Edaku Charles School of Social Sciences, Department of political and social studies, Nkumba University, Uganda
  • Mirembe Robina School of Social Sciences, Department of Development Studies, Nkumba University, Uganda
  • Marus Eton Faculty of Economics and Management Science, Department of Business Studies, Kabale University, Uganda

DOI:

https://doi.org/10.38157/ss.v4i1.414

Keywords:

Lifestyle, Retirement planning, Socio-economic status, Uganda

Abstract

Most studies on retirement planning focus on preserving money and accumulating wealth and ignore the lifestyles of individual employees. This study promotes a discussion on lifestyle as a predictor of socio-economic status in retirement. Based on 236 pensioners from the Busoga sub-region, we used ‘the way of living’ to indicate lifestyle. We used household expenditure, access to healthcare, and housing quality to indicate socio-economic status. We used descriptive measures to report on lifestyle and Spearman’s correlation coefficient to document the relationship between workers’ lifestyle and socio-economic status in retirement. Strong attachments to family and intimate relations during one’s working life predict a satisfying retirement life. Civil servants who avoid harmful substances and exercise regularly are likely to retire in good health. There is a moderate and significant association between lifestyle and socio-economic status among civil servants in Uganda. Supervisors and human resource officers in government agencies and departments should conduct regular workshops to help government workers build strong attachments to their families, friends, social groups, and communities. We provide a solid foundation for working individuals to always reflect on the quality of their relations with their families, friends, social groups, and communities. This study contributes to the retirement planning research by shifting the focus to lifestyle, arguing that all forms of saving and financial planning for the future hinge on an individual worker’s lifestyle.

Author Biographies

Mwosi Fabian, Ph. D. Student, Nkumba University, Uganda

Fabian Mwosi is a research fellow and Ph.D. student at Nkumba University, Uganda. He is lecturing at Bishop Barham University College, Kabale campus.

Edaku Charles, School of Social Sciences, Department of political and social studies, Nkumba University, Uganda

Dr. Charles Edaku is a senior lecturer at Nkumba University and Ph. D supervisor. His area of specialty is social sciences focusing on livelihood planning. Dr. Charles has skills in monitoring and evaluation and governance.

Mirembe Robina, School of Social Sciences, Department of Development Studies, Nkumba University, Uganda

Dr. Robina Mirembe is a senior lecturer and Ph.D. supervisor at Nkumba University, Uganda. Her area of specialty is Gender studies and education.

Marus Eton, Faculty of Economics and Management Science, Department of Business Studies, Kabale University, Uganda

Dr. Marus Eton is a senior lecturer at Kabale University. His research work focuses mainly on financial inclusion, economics, and small and medium enterprises, among others.

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Published

2022-04-25

How to Cite

Fabian, M., Charles, E., Robina, M., & Eton, M. (2022). Lifestyle as a Predictor of Socio-Economic Status in Retirement: Evidence from Pensioners from the Busoga Sub-Region, Uganda. Society & Sustainability, 4(1), 43–54. https://doi.org/10.38157/ss.v4i1.414