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- Title
Describing Life After Career: Demographic Differences in the Language and Imagery of Retirement.
- Authors
Chaiwoo Lee; Coughlin, Joseph F.
- Abstract
• This empirical study was conducted to understand people's perspectives toward retirement and to describe how views differ between people of various characteristics. • Verbal and visual representations regarding life after completion of a career were collected online from 990 adults in the U.S. to uncover underlying ideas and map key concepts. • A small number of words and features were reported in descriptions of retirement, indicating both an ambiguity and limitation in relating their current selves to possible future states. • Perceptions of retirement were generally positive, and a sense of optimism was evident across different segments. • Some demographic differences were found in thoughts on life after career. For example, people making less than $25,000 a year used fewer positive words and more negative words; younger adults' images were more likely to address financial well-being; and older adults and those with higher incomes provided more images related to travel. • Using the results of this analysis, financial planners can better address clients' emotional needs, rather than solely focusing on rational financial planning.
- Subjects
RETIREMENT planning; DEMOGRAPHIC characteristics; RETIREES; RETIREMENT investments; ESTATE planning; PERSONAL finance
- Publication
Journal of Financial Planning, 2018, Vol 31, Issue 8, p36
- ISSN
1040-3981
- Publication type
Article