Influence of age cohort on retirement planning

Kock, Hoe

doi:10.5897/ajbm12.292

Cited by 2 publications

(3 citation statements)

References 51 publications

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“…Numerous studies stress that retirement planning is the predictor of wealth accumulation for old age. Individuals who do not think of retirement have lower willingness to save for old age (Tan, Folk & Choong, 2012). The retirement planning is also connected with the concept that the State should guarantee, inter alia, suitable pensions (Esping-Andersen, 2013).…”

Section: Discussionmentioning

confidence: 99%

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Income and Social Determinants of Old-Age Savings: Evidence from Poland

Pieńkowska-Kamieniecka¹,

Walczak²,

Bera³

2019

AJIS

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The aim of the article is to determine the impact of social determinants on saving for old age with regards to income. The study presents two models of logistic regression. The first one includes only social determinants of family members among independent variables, while the second one includes also income. The results of logistic regression in the model excluding income showed that such variables as gender, age, years of education, place of residence or number of household members have a significant impact on saving for old age. Moreover, another conclusion drawn from the results is that after including income in the model (which turned out to be statistically significant) almost all social determinants remain significant. Therefore, income is a significant variable which affects the odds ratio of owning old-age savings by a household, so financial determinants are important, when we want to study the level of savings. The research presented in the article comes from the representative nationwide study the Social Diagnosis which was conducted among 11,740 households in Poland in 2015.

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Section: Discussionmentioning

confidence: 99%

“…The results of the study indicate that gender is one of the most important social determinants, which impacts on saving for old age (Bashir et al, 2013;Tan, Folk & Choong, 2012). The gender of a household head determines the size of household savings (Pieńkowska-Kamieniecka, 2017;Walczak & Pieńkowska-Kamieniecka, 2018).…”

Section: Introductionmentioning

confidence: 99%

Income and Social Determinants of Old-Age Savings: Evidence from Poland

Pieńkowska-Kamieniecka¹,

Walczak²,

Bera³

2019

AJIS

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“…At the same time, chronic illnesses have become more common and generally lead to a source of disability and functional dependency for the elderlies (Tobi et al, 2017). However, as social security is not complete to cover most of the expenses in retirement years, the elderly face financial difficulties in this later stage in life (Kock & Folk, 2011). The aging population is raising concerns about the social security system (Quy Long, 2019) as it is crucial for the well-being of the elderly as the aging population faces financial challenges (Goli et al, 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

Willingness to Accept Reverse Mortgage

Yee,

Chong,

Yusof

2023

The European Proceedings of Social and Behavioural Sciences

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At age 60, the working adult is turned into retired and stops generating active income. With the reduction in earnings, the aging population is facing the financial challenge to maintain their pre-retirement lifestyle. Hence, the elderly needed to find an alternative source to sustain their pre-retirement lifestyle and pay off their daily expenses. With the current retirement income, it is challenging for the elderly to sustain in their retirement, therefore, a new financial innovation shall be offered to solve the financial constraint of the elderly which elderly can convert the property into cash for self-sustaining without relying on other parties. As Malaysia has yet to launch new financial innovation products such as reverse mortgages, thus, it is crucial to understand the willingness to take up the reverse mortgage, so that the financial institutions have more confidence in the take-up rate of the reverse mortgage. The questionnaire is employed to examine the willingness to take up reverse mortgages and it found that most of the elderly are not ready to take up the reverse mortgage due to a lack of exposure and understanding of the product.

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Influence of age cohort on retirement planning

Cited by 2 publications

References 51 publications

Income and Social Determinants of Old-Age Savings: Evidence from Poland

Income and Social Determinants of Old-Age Savings: Evidence from Poland

Willingness to Accept Reverse Mortgage

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