Life satisfaction of Czech seniors: What actually matters?

Abstract

We estimate the influence of various factors on life satisfaction of Czech seniors in a large survey sample. We find that good health, more education and awareness of voluntary work participation, employee satisfaction and being currently employed are the main factors that contribute to being satisfied with the current quality of life in the group of Czech seniors. Surprisingly enough, increasing selfreported financial sufficiency is negatively associated with the quality of life. The main factors contributing to the life dissatisfaction are associated with being socially separated. The worst outcomes are recorded for those living in social homes and living alone. Any reported expectations of expected life changes (both positive and negative expectations) are associated with lower probability of life satisfaction.