RETIREMENT PLANNING AND LIFESTYLE PRACTICES AS CORRELATES OF PSYCHOLOGICAL WELL-BEING AMONG RETIRED PUBLIC SECONDARY SCHOOL TEACHERS IN IBADAN SOUTH-WEST LOCAL GOVERNMENT AREA, OYO STATE, NIGERIA

Abstract

Psychological well-being is an important aspect of adjustment to retirement. This study examined the joint contribution of retirement planning and lifestyle practices to psychological well-being among retired public secondary school teachers in Ibadan South-West Local Government Area, Oyo State, Nigeria. A descriptive survey research design was adopted. The study involved 200 retired teachers selected through purposive and simple random sampling techniques. Data were collected using the Retirement Planning Scale, Lifestyle Practices Scale, and Psychological Well-Being Scale, with reported reliability coefficients of .88, .91, and .88, respectively. Descriptive statistics and multiple regression were used for data analysis at the .05 significance level. The reported regression results indicated a statistically significant joint relationship between retirement planning, lifestyle practices, and psychological well-being, R = .624, R² = .390, adjusted R² = .384, F(2, 197) = 62.91, p < .001. The model accounted for 39.0% of the variance in psychological well-being. The findings highlight the relevance of retirement preparation and meaningful lifestyle practices to retirees’ adjustment. The study recommends that relevant education authorities and government agencies organise pre-retirement education covering financial preparedness, health planning, and adjustment to post-employment life. Retired teachers should also be encouraged to maintain healthy routines, meaningful activities, and social connections. Counselling services should support prospective and current retirees in developing realistic retirement goals and adapting positively to changing roles, responsibilities, and daily routines. These measures may strengthen retirement preparation and promote psychological well-being among retired teachers.