Self-Assessment of Retirement Preparedness

20 Pages Posted: 22 Aug 2016 Last revised: 1 Sep 2016

See all articles by Bob Lissington

Bob Lissington

Massey University

Claire D. Matthews

Massey University - School of Economics and Finance

Michael Naylor

Massey University - School of Economics and Finance

Date Written: August 18, 2016

Abstract

Adequacy of self-assessment of household preparedness for retirement is a vital issue. Whether or not there is, however, a gender difference with self-assessments is an unexplored area. While a tendency exists to over-estimate desirable behaviour or favourable outcomes, results show that participating in a financial adequacy survey leads to significant differences in the reassessed confidence in their level of preparedness.

The majority reduced their reassessments, with females making more re-assessments than males. still some re-assessments are not always warranted. Participation in comprehensive on-line surveys appears to heighten self-awareness. Providing greater focus on the strengths and weaknesses of individuals’ efforts to prepare financially for retirement.

Keywords: Retirement, Adequacy, Self-assessment, Re-assessment, Gender Difference, Confidence, Retirement Preparedness, Financial Preparedness, Pre-Survey, Post-Survey

JEL Classification: D00, D03, D10, D14

Suggested Citation

Lissington, Bob and Matthews, Claire D. and Naylor, Michael, Self-Assessment of Retirement Preparedness (August 18, 2016). 29th Australasian Finance and Banking Conference 2016. Available at SSRN: https://ssrn.com/abstract=2826212 or http://dx.doi.org/10.2139/ssrn.2826212

Bob Lissington (Contact Author)

Massey University ( email )

New Zealand
+64 6 3569099 (Phone)

Claire D. Matthews

Massey University - School of Economics and Finance ( email )

Private Bag 11-222
Palmerston North, 30974
New Zealand

Michael Naylor

Massey University - School of Economics and Finance ( email )

Private Bag 11-222
Palmerston North, 30974
New Zealand

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