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Centre for Policy on Ageing | |
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| Challenges of training pre-retirees to make sound financial planning decisions | | Author(s) | Douglas A Hershey, David A Walsh, Ruby Brougham |
| Journal title | Educational Gerontology, vol 24, no 5, July-August 1998 |
| Pages | pp 447-470 |
| Keywords | Preparation [retirement] ; Retirement ; Financial services [older people] ; United States of America. |
| Annotation | One of the more pressing societal challenges US institutions will face in the coming decades is to ensure that individuals who choose to leave the workforce have made wise financial decisions in preparation for retirement. This study was designed to measure pre-retirees' ability to make accurate decisions about the affordability of retiring from regular employment. The two aims of the investigations were to measure whether knowledge of finance and retirement planning mediated the quality of individuals' decisions, and to determine whether a brief educational training programme could be used to improve decision performance. A within-subjects design was employed in which subjects were asked to provide solutions to four realistic retirement planning decisions: two prior to an educational intervention, and two following the intervention. Results indicate that although subjects' knowledge of the domain increased slightly as a function of training, the overall quality of their decisions did not significantly improve from pre-test to post-test. Implications of these findings are discussed in terms of both the individual and society. (AKM). |
| Accession Number | CPA-981021403 A |
| Classmark | GA: G3: J: 7T |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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