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Which Workers Expect to Retire Late or Never? An Analysis of Couple and Non-Couple Households

Zhang, Lishu
http://rave.ohiolink.edu/etdc/view?acc_num=osu1376932034

Abstract Details

2013, Doctor of Philosophy, Ohio State University, Human Ecology: Family Resource Management.
Retirement expectation is a meaningful topic for both financial planners and public policymakers. Previous studies on retirement expectation have usually focused on retirement expectations with a specified retirement age. Never retire as a retirement expectation has been understudied. Using the combination of 1995, 1998, 2001, 2004, 2007 Survey of Consumer Finances, I present descriptive analyses, a logistic regression on the head’s plan to never retire, and a multinomial logistic regression comparing the head’s expectation to never retire to each of three categories of expected retirement ages for non-couple household heads. Using the 1995 to 2007 SCF datasets, 14% to 16% of non-couple household heads stated that they expect to never retire. Based on the logistic regression results for never retire versus any specific expected retirement age, the likelihood of planning to never retire decreases with financial variables (net worth, perceived adequacy of retirement income and health insurance overage) and saving ability variables (setting retirement as a major saving goal and being an actual saver); but increased with work hours per week and being self-employed. The multinomial logistic regression results are similar, but more complex because of multiple comparisons, but the main differences between the never retire and specific retirement age workers are in financial resources and saving ability. Generally speaking, non-couple household heads who expect to never retire are those with less financial resources and insufficient saving ability; they usually have lower leisure preference and lower earning ability (earning ability is measured by education level, occupation, and job security). These results have implications for retirement planning and for assessment of retirement adequacy, as the usual assumption is that expected retirement age is exogenous. For each spouse/partner in a couple household, the male delay retirement expectation or never retire expectation are usually related to the household’s financial variables, his own leisure preference, and his and his spouse/partner’s earning ability. Few variables are found to be significant on the female side. However, each spouse/partner’s retirement expectation is highly related to the other spouse/partner’s retirement expectation.
Sherman Hanna (Advisor)
Catherine Montalto (Committee Member)
Tansel Yilmazer (Committee Member)
179 p.
Home Economics
Retirement planning; Expected retirement age; delay retirement

Recommended Citations

Citations

  • Zhang, L. (2013). Which Workers Expect to Retire Late or Never? An Analysis of Couple and Non-Couple Households [Doctoral dissertation, Ohio State University]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=osu1376932034

    APA Style (7th edition)

  • Zhang, Lishu. Which Workers Expect to Retire Late or Never? An Analysis of Couple and Non-Couple Households . 2013. Ohio State University, Doctoral dissertation. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=osu1376932034.

    MLA Style (8th edition)

  • Zhang, Lishu. "Which Workers Expect to Retire Late or Never? An Analysis of Couple and Non-Couple Households ." Doctoral dissertation, Ohio State University, 2013. http://rave.ohiolink.edu/etdc/view?acc_num=osu1376932034

    Chicago Manual of Style (17th edition)

osu1376932034
693
© 2013, some rights reserved.Creative Commons License Which Workers Expect to Retire Late or Never? An Analysis of Couple and Non-Couple Households by Lishu Zhang is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License. Based on a work at etd.ohiolink.edu.
This open access ETD is published by The Ohio State University and OhioLINK.