"Is That All There Is?" 

Singer Peggy Lee wasn't talking about retirement when she crooned that 1960s ballad, but for some retirees, those lyrics are proving to be prophetic as they lament the fact that their golden years haven't lived up to their expectations, says a newly released study.       

Roughly 25% of retirees think life in retirement is worse than it was before they retired, according to a poll by National Public Radio, the Robert Wood Johnson Foundation and the Harvard School of Public Health released today.

The poll outlines the  stark dichotomy between what pre-retirees think retirement will be like, and what retirees say is actually the case when they get there.

"Those of us over 50 and working are optimistic about our future health and health care, but that optimism is not necessarily shared by those who have already retired," said Risa Lavizzo-Mourey, president and CEO of the Robert Wood Johnson Foundation.

Many people who have already retired, noted Lavizzo-Mourey, say their health is worse, and that they worry about costs of medical treatment and long-term care.

Lavizzo-Mourey says insights derived from the poll may help policy makers and others think about how to meet the needs of aging Americans. "There are changes we can make to our health care system, finances and communities that might help ensure that our retirement years will be as fulfilling as we hope," she said.

Conducted by researchers at the Harvard School of Public Health, the poll focuses on views and experiences related to retirement among people over age 50, including not only people who have retired, but also people who plan to retire and those who do not plan to do so.

Findings show that a large majority of retirees say life in retirement is the same, 44%, or better, 29%, than it was during the five years before they retired. Many retirees say their stress is less, their relationships with loved ones are better, their diet is improved and the amount of time they spend doing favorite activities is increased.

Yet 25% of retirees say life is actually worse than it was before they retired.

"The poll shows that a significant number of people who are near retirement may be underestimating the challenges of retirement," said Robert Blendon, professor of Health Policy and Political Analysis at the Harvard School of Public Health. "When you compare what people think retirement will be like with what retirees say it actually is like, there are big differences. Pre-retirees may underestimate the degree to which their health and finances may be worse in retirement."

-Jim McConville