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2019 Conference

du 21 au 23 May 2019

Westin Arlington Gateway, Arlington, VA, USA

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G3c Racial and Ethnic Differences in Holding a Retirement Saving Motive: A Decomposition Analysis

jeudi 23 mai 2019 à 13:00–14:30 EDT
F. Scott Fitzgerald D
Key Words

race, ethnicity, saving goal, retirement, decomposition

Short Description

Given the persistent racial/ethnic gap in many aspects of financial outcomes, there is a need to understand the causes of the differences. Examining the motives for retirement held by various racial groups could help further understand the retirement preparedness by racial groups.  The purpose of this study is to investigate racial/ethnic differences in holding a retirement saving motive using the 2016 Survey of Consumer Finances (SCF). Specifically, this study uses the decomposition analysis introduced by Blinder-Oaxaca (Blinder, 1973; Oaxaca, 1973) to clarify if differences in holding a retirement saving motive are due to various household characteristics or due to unobserved factors. The results contribute to the retirement savings literature by (1) analyzing racial/ethnic differences in holding a retirement savings motive, (2) using the decomposition method to demonstrate the extent of race/ethnicity differences, and (3) utilizing the new variables of risk tolerance and financial knowledge from the 2016 SCF.

First & Corresponding Author

Soo Hyun Cho, California State University
Authors in the order to be printed

Soo Hyun Cho, Kyoung Tae Kim, Sharon DeVaney

Additional Authors

Kyoung Tae Kim, University of Alabama
Sharon DeVaney, Purdue University
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