Individual Financial Planning for Retirement

Empirical Insights from the Affluent Segment in Germany
2008
ISBN: 978-3-7908-1997-7
Verlag: Physica-Verlag HD

Buch, Englisch, 443 Seiten, HC runder Rücken kaschiert, Format (B × H): 160 mm x 241 mm, Gewicht: 857 g

Reihe: Contributions to Economics

Over time, the responsibility for providing for a financially secure retirement has shifted more towards the individual. A number of implicit assumptions about perspectives, behavior, and individual choices underlie this shift. These assumptions presume that individuals are well-informed and reason unemotionally; that they process information correctly; and that they take rational decisions and act to maximize their own welfare. Empirical evidence, however, shows that such maxims do not often guide individuals’ actual behavior.Building on a new structure applied to insights drawn from behavioral finance, this book analyzes the perspectives of individuals with regard to their financial situation in retirement and compares the actions they take with ideal behavior. The work provides new insights into the broadly defined topic of individual retirement-specific financial planning behavior.The research builds on over 500 interviews with affluent individuals in Germany and contributes to defining ways in which policy-makers, financial planners, and individuals themselves can improve financial provisioning for retirement.

Zielgruppe

Research

Autoren/Hrsg.

Brunhart, Nicole

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Wirtschaftspolitik, politische Ökonomie
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Arbeitsmarkt
• Sozialwissenschaften Soziologie | Soziale Arbeit Altersgruppen Alterssoziologie
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Geldwirtschaft, Währungspolitik
• Sozialwissenschaften Soziologie | Soziale Arbeit Soziologie Allgemein Demographie, Demoskopie
• Sozialwissenschaften Psychologie Allgemeine Psychologie Entwicklungspsychologie Gerontopsychologie

Inhaltsverzeichnis

Frame of reference and conceptual approach for the analysis of individual retirement-specific financial planning behavior.- Fundamentals of the retirement system in Germany.- Retirement-specific behavioral finance and derivation of benchmark behavior for FP actions.- Investor retirement survey and outlook on empirical analyses about individual retirement-specific FPB.- Empirical analyses of individual retirement-specific FPB.- Review of empirical research and identification of suggestions for policy-makers, financial planners and the individual.- Conclusion.