2015 Conference
October 15–16, 2015
Orlando, FL
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The Impact of a Financial Information Source on Subjective and Objective Retirement Saving Adequacy
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Subjective and Objective Retirement Adequacy
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This paper investigates the impact of a source of acquiring financial information on U.S. households’ subjective and objective retirement adequacy. We will analyze the 1998-2013 Survey of Consumer Finances (SCF) to reveal the impacts of an information source on individuals’ subjective and objective retirement adequacy. For subjective retirement preparedness, we use the question in the SCF asking the respondents what is their satisfaction on their expected retirement adequacy. A respondent’s objective income adequacy is calculated by using the retirement income stage method. Logistic regression will be used to estimate the impact of an information source on both types of retirement adequacy.