Variables describing the decision to retire before the age of sixty-five



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Texas Tech University


The purpose of this study is to identify variables describing the decision to retire before the age of 65. Early retirement is important because of the large and increasing number of individuals who are retiring eariy in the United States. In addition, it is a significant factor in regard to retirement behavior and retirement decisions. Information regarding variables describing the decision to retire early will be useful to educators, policymakers, and financial planners: educational materials can be tailored to meet specific needs, policies can be set to meet unmet needs, and fmancial planners will be able to target clients in this niche of the plarming market.

The 1999 Retirement Confidence Survey (RCS) was used in this research. Logistic regression was used to measure the statistical relationship between the dependent variable and the independent variables. Two independent variables, retirement savers and level of education, were found to be significant at the .05 level, and confidence in Social Security was found to be significant at the .10 level.

Recommendations for future research include the following: replicating the study employing later versions of the RCS, employing sampling techniques that allow randomizations that should yield respondents that match more closely with the demographics of the U.S. population, replicating the study and including additional variables, research using more inclusive questions addressing the respondent's circumstances at the time of retirement, and research conducted to assess the validity of the retirement readiness questions and the financial attitudes and behavior score.



Retirement, Retirement age