Burns, 1990


Burns, S. A. & Widdows, R. (1990). Sensitivity of a retirement
analysis framework to changes in

retirement analysis parameters. Financial Counseling and Planning,
1
, 71-91.


Sensitivity of a Retirement Analysis Framework to Changes in Retirement
Analysis Parameters


Sharon A. Burns1 and Richard Widdows2





A retirement analysis framework was applied to data from a large sample of consumers to explore the difference in required
retirement savings rates when the operational definitions of three retirement analysis factors were varied. Four retirement analyses
were completed. The first incorporated the value of the parameters used by Duncan, Morgan, and Mitchell. In the other analyses, the
use of home equity, income, and net worth varied from the original study. Varying the definitions of two factors produced
significantly different required retirement savings rates. Required savings rates are significantly different for members of different age
groups for all four retirement savings rate analyses.


Key Words:Retirement, Financial planning, Saving


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Affiliations at time of publication:

1. Sharon A. Burns is Assistant Professor, Family Resource Management Department, The Ohio State University.

Current E-mail: sburns@finsolve.com

2. Richard Widdows is Associate Professor, Consumer Sciences and Retailing, Purdue University.

Current affiliation:

Richard Widdows, Professor, Consumer Sciences Department, The Ohio State University, 1787 Neil Avenue, Columbus,
OH 43210-1295. Phone: (614) 292-8063. Fax: (614) 614-688-8133. E-mail: widdows.2@osu.edu



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