Does retirement planning affect the level of retirement satisfaction?

Authors

  • Harold W. Elder Dept. of Finance & Economics, University of Alabama, Tuscaloosa, AL 35487-0224, USA
  • Patricia M. Rudolph Dept. of Finance & Economics, University of Alabama, Tuscaloosa, AL 35487-0224, USA

DOI:

https://doi.org/10.1016/S1057-0810(99)00036-0

Abstract

This paper analyzes the relationship between retirement planning and retirement satisfaction. Do individuals think about and plan for retirement? If they do, do they utilize financial planning services? If they plan, are they more satisfied with retirement than those who did not? Data for 1,781 retired individuals from the first wave of the Health and Retirement Study (HRS) are analyzed using an ordered probit model. The results indicate that thinking about retirement and attending planning meetings have a significant positive impact on satisfaction even when income, wealth, marital status and health are included as explanatory variables. © 1999 Elsevier Science Inc. All rights reserved.

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Published

1999-06-30

How to Cite

Elder, H. W., & Rudolph, P. M. (1999). Does retirement planning affect the level of retirement satisfaction?. Financial Services Review, 8(2), 117–127. https://doi.org/10.1016/S1057-0810(99)00036-0

Issue

Vol. 8 No. 2 (1999): Financial Services Review

Section

New Original Submission

License

Copyright (c) 1999 JAI Press Inc.

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