Li, 1996


Li, J., Montalto, C. P. & Geistfeld, L. V. (1996). Determinants of financial adequacy for retirement. Financial Counseling and Planning, 7, 39-48.


Determinants Of Financial Adequacy For Retirement

Jieyu Li,(1) Division of Medical Assistance, State of Massachusetts

Catherine Phillips Montalto,(2) The Ohio State University

Loren V. Geistfeld,(3) The Ohio State University

Data from the National Longitudinal Survey of Older Men are used to examine factors associated
with financial adequacy for retirement. Bivariate and multivariate analyses show that being white,
a longer planning horizon, planning to retire at age 65 or later, and owning assets are positively
associated with the accumulation of financial resources adequate to maintain the preretirement level
of consumption throughout the retirement years. The importance of planned retirement age to
financial adequacy for retirement is confirmed
.

KEY WORDS: income adequacy, life cycle model, National Longitudinal Survey, retirement needs,
retirement planning


1. Jieyu Li, 735 Randolph St., 18E, Canton, MA 02021. (617) 828-8961. E-mail: Jieyu_Phyllis_Li@fleet.com

2. Catherine Phillips Montalto, Assistant Professor, Consumer Sciences Department, The Ohio State University, 1787 Neil Avenue, Columbus,
OH 43210-1295. Phone: (614) 292-4571. Fax: (614) 292-7536. E-mail: montalto.2@osu.edu

3. Loren V, Geistfeld, Professor, Consumer Sciences Department, The Ohio State University, 1787 Neil Avenue, Columbus, OH 43210-1295.
Phone: (614) 292-4582. Fax: (614) 292-7536. E-mail: geistfeld.1@osu.edu.


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