Devaney, S. A. (1995). Retirement preparation of older and younger Baby Boomers. Financial
Counseling and Planning, 6, 25-33.
Retirement Preparation of Older and Younger Baby
Sharon A. DeVaney (1)
The purpose of the study was to
examine factors related to retirement preparation of older and younger cohorts of
the baby boomers using a criterion of having investment assets greater than 25%
of net worth. Using the 1989 Survey of Consumer Finances, logit analyses showed
that being white and expecting a large inheritance were positively related to
meeting the guideline for younger boomers. The older cohort of the baby boomers
had increased likelihood of meeting the guideline if the household head was in
good health, was male, and had pension coverage. For both cohorts, as age and
education increased, it was more likely that households would meet the
guideline for retirement preparation.
Key Words: retirement planning,
investment, saving, Survey of Consumer Finance
1. Sharon A. DeVaney, Assistant
Professor, Consumer Sciences and Retailing, Purdue University, 1262 Mathews
Hall, West Lafayette, IN 47907-1262. Phone: (317) 494-8300 Fax: (317) 494-0869.