Health State and the Savings Required for a Sustainable Retirement

Harlow, W. V.; Brown, Keith C.

doi:10.3905/jor.2017.4.4.025

Cited by 4 publications

(2 citation statements)

References 8 publications

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“…This can be justified by their desire to own financial resources which will be necessary to lead a happy life or maintain good health which is important to them. On the other hand, it needs to be stressed that people with excellent health need greater financial resources for old age as they have a projected longer time span during which they will be using savings collected during professional activity (Harlow, Brown, 2016). Health status and expectations towards its future condition are therefore significant societal determinants of savings.…”

Section: Resultsmentioning

confidence: 99%

The influence of social determinants on retirement savings in Poland

Walczak¹,

Pieńkowska-Kamieniecka²,

Bera³

2018

European Journal of Service Management

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Both individuals and entire households save for various reasons. Many factors determine saving for a particular purpose. The article presents social determinants which have an effect on retirement savings. The authors draw on the results of the Social Diagnosis of 2015-a panel-based study conducted annually by the Council for Social Monitoring since the year 2000. In 2015, the study covered 11,740 households within the whole area of Poland. The study subjects were individuals acting as heads of their households and making key financial decisions concerning the members. A logistic regression model was used to determine the social and demographic characteristics of household heads who make decisions concerning retirement savings. The results of logistic regression have shown that gender, years of education, religiosity, marital status, whole life satisfaction as well as political and economic views have a significant impact on the decision-making process of saving for old age.

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Section: Resultsmentioning

confidence: 99%

The influence of social determinants on retirement savings in Poland

Walczak¹,

Pieńkowska-Kamieniecka²,

Bera³

2018

European Journal of Service Management

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“…Just 12 percent of the working Americans reported that they took potential healthcare costs into their retirement planning (Harlow, 2015). Harlow and Brown (2017) opined that the health status of an individual was a pivotal factor when doing retirement-saving planning.…”

Section: Behavioral Life-cycle Theorymentioning

confidence: 99%

The Association Between Medical Hardships and Early Retirement Account Withdrawals

2021

Glob J Acc Fin

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Medical hardships are common in the United States due to rising medical expenditures and patient-financial responsibilities. Meanwhile, every year, billions of dollars are lost to penalties from early withdrawals from retirement accounts to pay for these medical bills. Prior research has been devoted to the interrelation between the medical hardships and medical affordability. Separately, attention has been paid to the leakage impact of the early withdrawals from retirement withdrawals. This study explores the linkage between medical hardships and early withdrawals from retirement accounts. We ask whether the medical hardships, such as unpaid medical debt, unfilled prescriptions due to cost, and medical-care avoidance due to cost, are associated with early withdrawals from retirement accounts. We then discuss the negative financial impact of early withdrawals from retirement accounts on retirement readiness. Lastly, we explore the potential impact of the vicious circle among the low-income, uninsured, medical hardship sufferers coupling to their early withdrawals from retirement accounts and retirement readiness.

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