Does Death Anxiety Moderate the Adequacy of Retirement Savings? Empirical Evidence from 40-Plus Clients of Spanish Financial Advisory Firms

Pablo Garmendia, Gabriela Topa, Teresa Herrador and Montserrat Hernández
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Pablo Garmendia: Universidad Nacional de Educación a Distancia UNED, Ph.D. Programme in Psychology and Health, International School of Doctorate, 28040 Madrid, Spain
Gabriela Topa: Department of Social and Organizational Psychology, Universidad Nacional de Educación a Distancia UNED, 28040 Madrid, Spain
Teresa Herrador: Department of Business Economics and Accounting, Universidad Nacional de Educación a Distancia UNED, 28040 Madrid, Spain
Montserrat Hernández: Department of Business Economics and Accounting, Universidad Nacional de Educación a Distancia UNED, 28040 Madrid, Spain

IJFS, 2019, vol. 7, issue 3, 1-13

Abstract: This three-wave study analyses the mediating role of financial behavior in the relationship between financial goals and retirement saving adequacy, and the moderating role of Death anxiety. The participants in the study (N = 276) were 40-plus Spanish clients of financial advisory firms. The results show that the relationship between financial goals and retirement saving adequacy is, in fact, mediated by financial behavior. We also found that death anxiety moderates the financial behavior-retirement saving adequacy relationship. The theoretical and practical implications of the study for design are discussed at the end of the paper.

Keywords: death anxiety; financial goals; retirement; financial behavior (search for similar items in EconPapers)
JEL-codes: F2 F3 F41 F42 G1 G2 G3 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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