TITLE

Can I Retire? Benchmarks to Consider in Making the Retirement Decision

AUTHOR(S)
Lahey, Karen Eilers; Doseong Kim; Newman, Melinda L.
PUB. DATE
December 2004
SOURCE
Journal of Financial Planning;Dec2004, Vol. 17 Issue 12, p62
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The decision to retire is a significant life-cycle event for a financial planner's client(s). To aid financial planners and their clients in this process, we analyze a longitudinal database of individuals who have retired or are near retirement. We summarize the findings and provide both financial and nonfinancial benchmarks that clients can use in arriving at their own retirement decision. Among the variables examined, we find that age, health, a spouse's retirement status, and mortgage debt are the factors that most significantly influence the decision to retire. We also illustrate differences found between those who decide to retire and those who do not by providing eight benchmark scenarios. The first four scenarios compare retired and nonretired married couples based on their reported health status, while the second set of comparisons is based on the ownership of business assets.
ACCESSION #
15309316

 

Related Articles

  • Securian Issues Free Fee Report. Manganaro, John // Plan Advisor News;2013, p112 

    The article reports on the move of Securian Retirement, a financial services firm, to introduce a no-cost fee benchmarking service. It says that the service was created to help advisers guide clients by judging fees against industry averages. Company national sales vice president Vince Giordano...

  • Why Advisors Aren't Closing More Cases. VESSENES, KATHERINE // Research;Jan2014, Vol. 37 Issue 1, p55 

    In this article, the author discusses stories to help the financial advisors to improve their relationship with clients resulting in the increased advisors' income. Topics discussed include determining the need and issues of target prospect, issues related to the clients' financial conditions...

  • Guiding Choices to Secure A Client's Future. FEDERER, DENISE P. // On Wall Street;Aug2011, Vol. 21 Issue 8, p35 

    The article discusses the financial advisor's role in guiding their clients in making decisions about their future. It notes that advisors need to identify the factors influencing the behavior of their clients and formulating a strategy for communicating with them. The author suggests examining...

  • The Retirement Brain Game. Salsbury, Greg // Financial Planning;Aug2010, Vol. 40 Issue 8, pA3 

    The author describes irrational behaviors that influence the financial decisions of clients. He says that financial advisors should understand behavioral finance to help clients modify these behaviors. He cites that retirement is seen by several investors as a zone that can be put off. He...

  • Graham Bentley: Chickens or pigs? Clients' involvement in the advice process. Bentley, Graham // Fundweb;3/21/2014, p8 

    In this article the author focuses on involvement of clients in financial advice process in Great Britain. He states that advisers telling clients about factors affecting decision making like economic outlook is giving guidance and not advice. He mentions that financial advice needs...

  • Approaching Retirement Often Spurs Need for Financial-Planning Advice.  // Best's Review / Life-Health Insurance Edition;Oct99, Vol. 100 Issue 6, p102 

    Reveals a survey by the Certified Financial Planner Board of Standards. Significance of retirement in financial planner advisory; Technique in survey questionnaires.

  • Lack of guidance backstop 'massive threat' to Budget pension reforms. Norman, Tessa; Brodbeck, Sam // Money Marketing (Online Edition);10/24/2014, p7 

    The article reports on the criticisms raised against the British Financial Conduct Authority (FCA) after it announced its decision to not offer a backstop to consumers who made poor retirement decisions. Topics covered include the impact of the decision on rules related to treating customers...

  • Weighing a Pension Payout. Yacik, George // Financial Planning;Feb2013, Vol. 43 Issue 2, p33 

    The article focuses on the importance of financial advisors to employees being offered early retirement benefits in the U.S. in 2013. Lump-sum payments form part of the option of early retirement benefits, wherein Americans would need to hone their financial and investing decision-making skills....

  • Understanding and Guiding Client Behavior. FEDERER, DENISE // On Wall Street;Jun2009, Vol. 19 Issue 6, p69 

    The article gives advice to financial professionals in handling behaviors of their clients. First, the author states that advisors should possess effective strategies to manage clients' anxieties. Second is to minimize the impact of clients' emotions on financial actions which in turn will...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics