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Financial Strategies of the Recently Retired

Published online by Cambridge University Press:  29 November 2010

M. Leslie Snell  and
Kathleen H. Brown
M. Leslie Snell
Affiliation:
Senior Citizens' Centre, Guelph
Kathleen H. Brown
Affiliation:
University of Guelph
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Abstract

This study investigated the use by 450 recently retired men and women, of four financial strategies which might enhance financial resources. These strategies were change in expenditures, change in home production, change in assets, or post-retirement employment. Expenditure reduction was the most frequently used of these strategies. As with other research, subjective assessment of economic adequacy was more influential than actual income in affecting expenditure behaviours. The other strategies appeared to be less related to economic factors. Post-retirement employment was most influenced by work saliency. Education, used as a proxy for knowledge and skills, was found to positively correlate with changes in expenditure, home production, and assets. Perhaps the retired consider themselves powerless to improve their economic condition or do not perceive these as useful financial strategies.

Résumé

Cette étude, regroupant 450 hommes et femmes récemment retraités, a été mise au point dans le but d'analyser quatre stratégies économiques qui permettraient un niveau d'aisance financier accrû. Les méthodes utilisées comprenaient: un changement au niveau des dépenses, un changement au secteur de la production domestique permettant aux pensionnés de suffire plus amplement à leurs propres besoins, le remaniement des capitaux en mains et l'obtention d'un emploi durant les années de retraite. La restriction fiscale gagna le plus de popularité.

Conformément à d'autres études de recherche, le contrôle des finances repose beaucoup plus sur l'évaluation subjective du pouvoir économique que sur les revenus actuels. Les autres stratégies ne semblent pas aussi étroitement liées aux facteurs économiques. L'accessibilité au marché du travail exerce un impact profond sur la décision de retourner au travail suivant la retraite. Le niveau d'éducation, utilisé pour mesurer les connaissances et les aptitudes, correspond directement aux changements effectués dans le budget, dans la production domestique et dans l'actif. Les retraités se jugent possiblement incapables d'améliorer leur condition économique ou estiment que ces stratégies financières sont inefficaces.

Keywords

financial strategiesretired.
Type
Articles
Information
Canadian Journal on Aging / La Revue canadienne du vieillissement , Volume 6 , Issue 4 , Winter/Hiver 1987 , pp. 290 - 303
Copyright
Copyright © Canadian Association on Gerontology 1987

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References

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