The Impact of Social Capital on Life Satisfaction among Retired Seniors: Focusing on the Mediating Role of Self-Esteem

This study examines how social capital relates to life satisfaction among individuals who have exited the workforce, with particular attention to the mediating influence of self-esteem. As population aging accelerates, retirement increasingly entails adjustments in social participation, interpersonal connectedness, and identity continuity, all of which are closely associated with subjective well-being. Utilizing data from 412 respondents aged 65 and above drawn from the 18th wave of the Korean Welfare Panel Survey, the analysis applies multiple regression procedures following the established mediation framework proposed by Baron and Kenny. The statistical significance of indirect pathways was further evaluated through the Sobel test and nonparametric bootstrapping. The empirical findings show that higher levels of social capital are consistently associated with greater life satisfaction, with trust-based relationships and reciprocal exchanges emerging as particularly salient. Moreover, self-esteem was found to partially mediate this association, indicating that robust social resources contribute to a more positive sense of self, which in turn enhances psychological stability and overall well-being. These results underscore the interdependence of social integration and psychological factors in later life and suggest that policy efforts fostering community involvement, trust, and mutual support may play a vital role in improving quality of life for retired seniors.