Financial Planning for Retirement: An Imperative for Baby Boomer Women

Glass, J. Conrad; Kilpatrick, Beverly B.

doi:10.1080/0360127980240606

Cited by 69 publications

(52 citation statements)

References 2 publications

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“…In addition, Glass and Kilpatrick (1998) mentioned that women tend to be less prepared of their retirement planning due to lack of adequate financial resources than men. They generally found to be more economically and psychologically weak in retirement planning and are influenced by several factors such as limited economic accessibility, pension scheme, low wage, gender prejudice as well as selection of career option in their intention towards effective planning (Glass & Kilpatrick, 1998).…”

Section: Gendermentioning

confidence: 99%

“…In addition, the study also involved wide issues related to woman in retirement planning such as the longevity life of women rather than men, women economic and psychological issues, factors affecting retirement planning and women financial literate. The result shows the majority of women do not plan for retirement (Glass & Kilpatrick, 1998;Lusardi & Mitchell, 2008) and less financial literature as well as economically and psychologically weak in retirement planning (Glass & Kilpatrick, 1998;Lusardi & Mitchell, 2008).…”

Section: Introductionmentioning

confidence: 98%

“…Based on previous studied in developed countries on retirement planning issues such as in United States (Joo & Grable, 2001;Taylor-Carter et al, 1997;Duflo & Saez, 2002), Hong Kong (Lee & Law, 2004, and Singapore (Lim, 2003). These studies involved the Baby Boomer generation (DeVaney, 1995;Glass & Kilpatrick, 1998;Ekerdt & DeViney, 2001;Lusardi & Mitchell, 2008). In addition, the study also involved wide issues related to woman in retirement planning such as the longevity life of women rather than men, women economic and psychological issues, factors affecting retirement planning and women financial literate.…”

Section: Introductionmentioning

confidence: 99%

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Demographic Factors Associated with Retirement Planning: A Study of Employees in Malaysian Health Sectors

Mansor¹,

Hong²,

Abu³

et al. 2015

ASS

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Retirement is a stage of life where involvement in certain social activities and desirable conducts become less or narrow. Retirement life without planning requires continuous employment or working and the life style remain same with young age although the individual reaches retirement age. Lack of proper retirement planning preparation will generally bring some disappointment during retirement. Thus, having a proper retirement planning is extremely important. The main aim of the study is to investigate the significant of demographic factors in determining of retirement planning among health sectors based employees. While, the objectives of the current study are to determine the relationship between demographic factors consists of age, education level, gender and household income towards retirement planning. There are 110 set of questionnaires distributed to respondents worked in health sectors. The results of the study revealed that age; education level and household income were supported however intriguing findings for gender was not supported. The findings and the framework of the study will be useful to the Malaysians in preparing a proper retirement planning in their life. The study also serves a guideline to the government and policy maker as well as banking and financial institutions in satisfying the needs and wants from the market.

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Section: Gendermentioning

confidence: 99%

Section: Introductionmentioning

confidence: 98%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Demographic Factors Associated with Retirement Planning: A Study of Employees in Malaysian Health Sectors

Mansor¹,

Hong²,

Abu³

et al. 2015

ASS

View full text Add to dashboard Cite

show abstract

“…Indicators associated with higher saving rates include: being older (Devaney and Su 1997;Stawski et al 2007), being male (Glass and Kilpatrick 1998;Jefferson and Preston 2005), being highly educated (Yuh and Olson 1997), being married (Rix 1990;Yuh and Olson 1997), being in good health (Johnson et al 2008;Lum and Lightfoot 2003), having a reasonable income adequacy (Bassett et al 1998;Poterba et al 2007;Stawski et al 2007;Weller 2006). Furthermore, it has been suggested that having many children should be negatively predictive of saving for old age (Galasso et al 2008), because children are themselves considered to be a source of support.…”

Section: Saving For Retirementmentioning

confidence: 99%

What drives retirement income worries in Europe? A multilevel analysis

2010

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Nations in Europe have been developing rapidly since the formation of the European Union (EU), not only socially and demographically, but economically as well. One question a number of countries will face during this period of structural transition will be how (and how well) they are able to support their citizens in old age. A related question involves whether individuals worry about their financial future in retirement, and the extent to which they take active steps to save in order to ensure an adequate standard of living. In this study, we analyze data from the third wave of the European Social Survey, which represents 21,416 working adults from 23 countries in Europe. We used multilevel modeling to focus on the explanatory factors that underlie individual and country-level effects in worry about future retirement income and saving behavior. Findings suggest that once individual-level dimensions are taken into account, country-level predictors explain appreciable variance in worry, but not saving practices.Moreover, we found that retirement income worries are more severe in countries with a strong projected increase in future population aging and a high level of income inequality. Finally, pension age reforms were not found to appreciably affect retirement income worries. Results of the study are discussed in terms of not only the individual difference dimensions that precipitate future income worry and saving, but also ways in which macro-level policy initiatives could potentially alleviate some of the worries of European citizens.Keywords Retirement income Á Worry Á Saving Á Europe Á Economic Á Multilevel modeling One major change many Europeans will face in the coming decades has to do with the level of financial support they can expect to receive in old age, due to the shifting dynamics of pension financing systems in different countries. This is particularly true in previous Eastern Bloc nations, in which pension financing systems are being built (or rebuilt) to meet the needs of large segments of older workers nearing retirement. One predictable consequence of this change is worry on the part of the individual worker, who may not have a sense that a reasonable level of financial support is forthcoming. In this study, we focus attention on the factors predictive of future retirement income worry in Europe, and the factors predictive of saving for old age.The broad theoretical framework that supports this study explicitly recognizes that a range of multidisciplinary influences shape individuals' financial behaviors, as well as their financially linked emotions. That being the case, in order to characterize the determinants of financial worry and saving for old age, we employ indicators drawn from the fields of psychology, sociology, and economics. By

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“…Na druhej strane majú úspory na dôchodok vyššie očakávané výnosy, určitú mieru daňového zvýhodnenia, prí-padne môže sporiteľom prispievať aj zamestnávateľ, čo v globále sporenie na dôcho-dok zatraktívňuje (Hubbard, 1986). Štúdie zaoberajúce sa zabezpečením jednotlivcov na obdobie staroby poukazujú na to, že vek (Bassett et al, 1998;Glass, Kilpatrick, 1998b), rodinný stav (Cohn et al, 1975;Glass, Kilpatrick, 1998a;Henkens, 1999) a pohlavie (Behling et al, 1983;Hurd, Wise, 1989;Quick, Moen, 1998) vplývajú na rozhodovanie sa jednotlivcov.…”

Section: Súkromné Sporenie Na Dôchodok V Existujúcej Literatúreunclassified

Proactive Approach to Private Pension Savings: Key Determinants

Pastoráková¹,

Brokešová²,

Péliová³

2017

Politicka ekonomie

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Proactive Approach to Private Pension Savings: Key Determinants Component encouraging private savings was introduced or is under consideration in pension schemes of many countries. This diversification of old-age income sources shifts the responsibility for the level of retirement income to the individuals themselves and, at the same time, opens the question about their preparedness for such financial decisions. Inadequate savings could have enormous impact on their future life and determine their standard of living in the period of retirement. The aim of the paper is to identify key demographic and socio-economic factors determining individuals' proactive approach to the private pension savings. We also would like to point out group of individuals with a low level of the private savings involvement. These individuals are potentially poverty vulnerable in their old-age. Using representative sample of 2 826 citizens of the Slovak Republic from the Household Finance and Consumption Survey carried out by the National Bank of Slovakia, we have identified as key factors age, education, income, ownership of second real estate and other financial assets and sharing household with pensioners. Our research contributes to the extension of existing knowledge that can be used by countries with multi-pillar pension systems, absence of occupational employment funds and low availability of products for voluntary pension savings.Keywords: private saving for retirement, a multi-pillar pension schemes, support for private savings for old age period, public and private pension systems JEL Classification: J11, H55, H75, J32, G22 Úvod V dôsledku zvyšujúceho sa tlaku na verejné dôchodkové systémy vzniká popri štátom garantovanom starobnom dôchodku stále väčší priestor pre individuálne aktivity jednotlivcov, s cieľom zabezpečiť príjem v starobe aj prostredníctvom vlastných úspor. Prvotnou možnosťou pre ich tvorbu sú samotné dôchodkové systémy. Opatrenia zamerané na podporu súkromných úspor sú implementované priamo v dôchodkových systémoch mnohých krajín, v ďalších sa o ich zavedení uvažuje. Očakáva sa od nich zvýšenie

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Financial Planning for Retirement: An Imperative for Baby Boomer Women

Cited by 69 publications

References 2 publications

Demographic Factors Associated with Retirement Planning: A Study of Employees in Malaysian Health Sectors

Demographic Factors Associated with Retirement Planning: A Study of Employees in Malaysian Health Sectors

What drives retirement income worries in Europe? A multilevel analysis

Proactive Approach to Private Pension Savings: Key Determinants

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