Perceived Adequacy of Retirement Income

FINANCIAL COUNSELING AND PLANNING, Vol. 6, 1995

Posted: 9 Jul 1998

See all articles by Y. Lakshmi Malroutu

Y. Lakshmi Malroutu

City University of New York - Consumer Studies

Jing Jian Xiao

University of Rhode Island

Abstract

Data from the 1989 Survey of Consumer Finance were used to examine the effect of socio-demographic, human capital, work related, and objective variables on perceived adequacy of retirement income of preretirees. A multivariate probit analysis showed that younger respondents, whites, those with incomes between $10,000 and & $19,999, females, and self-employed were less likely to perceive their future retirement income to be adequate than otherwise similar households. When subjective variables were added to the analysis, planning to save within 5 years was positively related to preretirees' perception of having adequate retirement income.

JEL Classification: G23, H55, J26

Suggested Citation

Malroutu, Y. Lakshmi and Xiao, Jing Jian, Perceived Adequacy of Retirement Income. FINANCIAL COUNSELING AND PLANNING, Vol. 6, 1995, Available at SSRN: https://ssrn.com/abstract=7234

Y. Lakshmi Malroutu (Contact Author)

City University of New York - Consumer Studies ( email )

6521 Main Street
Flushing, NY 11367
United States
718-997-4159 (Phone)

Jing Jian Xiao

University of Rhode Island ( email )

Transition Center
Kingston, RI 02881
United States
401-874-2547 (Phone)
401-874-4020 (Fax)

HOME PAGE: http://www.uri.edu/hss/hdf/faculty/JingJXiao.htm

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