I
n the often-dramatized debate that pits retirees – who are allegedly enjoying carefree golden years – against poorly paid and underappreciated workers, a research paper from the Center for Economic Research and its Applications (CEPREMAP, March 2026) offers a more nuanced perspective. Researchers Alex Martinez and Mathieu Perona do not focus on bank accounts, but rather analyze the subjective sense of well-being experienced by individuals.
Their conclusion should help dispel the clichés surrounding a supposed "generational war." As the authors of the study note, "In almost every dimension, the well-being of retirees is nearly identical to that of people of the same age who are still working." In other words, "retirement is not the golden age people imagine."
This finding hold true across all groups: men and women, employees and managers, manual and white-collar workers. Starting at age 65, it is even one's professional life that is most appreciated; working people seem more satisfied with their lives than retirees of the same age. This is particularly true for professionals, business owners and shopkeepers with high incomes. Yet, the fact that these individuals have not stopped working may also reflect a genuine love for their work, which aligns with their reported well-being.
