Ethnicity and Retirement Wealth

32 Pages Posted: 23 Jun 2011

See all articles by Michael Naylor

Michael Naylor

Massey University - School of Economics and Finance

Fialupe Noerin Lotoala

affiliation not provided to SSRN

Date Written: May 13, 2011


While it is understood that differing ethnic groups have differing income and therefore differing capacity to save for retirement, it is not generally recognized that differing genders and ethnic groups do not save the same even if income is equalized. This article contributes to the discussion by studying the determinants of retirement wealth across a range of ethnicities, including White, Pasifika and Asian. Differences in retirement wealth between ethnic groups is relatively unexplored outside of the USA.

The article uses data from a detailed nation-wide survey to examine what demographic factors and socio economic factors are the main determinants of retirement wealth. Gender and ethnicity are found to be a strong predictor of retirement wealth even after controlling for all other factors. Hence effective retirement wealth policy has to take account of ethnic/cultural differences. While the focus is on New Zealanders the results are applicable world-wide.

Keywords: Retirement wealth, ethnicity, race, behavioral finance

JEL Classification: D14, D31, D91, I39, J15, J26

Suggested Citation

Naylor, Michael and Lotoala, Fialupe Noerin, Ethnicity and Retirement Wealth (May 13, 2011). Available at SSRN: or

Michael Naylor (Contact Author)

Massey University - School of Economics and Finance ( email )

Private Bag 11-222
Palmerston North, 30974
New Zealand

Fialupe Noerin Lotoala

affiliation not provided to SSRN ( email )

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
PlumX Metrics