 Subjective well-being can remain stable for those who retire from work voluntarily, but declines for those who are involuntarily retired.In countries with an average social norm to work, the well-being of men increases after retirement, and the well-being of retired women is at the same level as women who are homemakers or work outside the home.In countries with a strong social norm to work, retirement negatively impacts the well-being of men and women.