Portal de Periódicos da CAPES

Retirement Financial Preparation

2004; Taylor & Francis; Volume: 16; Issue: 2 Linguagem: Inglês

10.1300/j031v16n02_02

1545-0821

Leslie A. Morgan, J. Kevin Eckert,

Financial Literacy, Pension, Retirement Analysis

Financial preparation for retirement is key to positive outcomes for future cohorts. Studies suggest that insufficient preparation is occurring among Baby Boomers. Data from community-dwelling adults (N = 1508, ages 40-70) show that most respondents (22-75%) had taken four specific preparation steps, and few reported negative attitudes toward planning. Five correlates (gathering information, locus of control, self-definition as household planner, financial worries, and negative attitudes) and demographic variables tested in bivariate analyses showed most having associations with preparation. In multivariate analyses, however, only two correlates (gathering information and negative planning attitudes) and demographics (race/ethnicity, education, income, health, age, and education) explained planning behavior.