The Importance of Planning Horizon in End-of-Life Financial and Health Planning
6 Pages Posted: 7 Nov 2019
Date Written: October 1, 2018
This study uses the 2014 Health and Retirement Study (HRS) to examine the predictors of End of Life (EOL) planning among adults age 50 and over and the integration between end of life (EOL) financial and EOL health planning, and the association of financial planning time horizon with EOL financial and EOL health planning documents. The results indicate that both financial and health end-of-life documents were more common among those with greater wealth and more educated individuals. The financial planning time horizon affected the EOL financial planning, but not EOL health planning. This suggests that the financial planning horizon measurement may be limited to financial behaviors, rather than broadly predictive of long-term planning behaviors in other domains.
Keywords: End of Life Planning, Estate planning, Advance Directive
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