Planning for Retirement? The Importance of Time Preferences

Robert L. Clark, Robert G. Hammond, Christelle Khalaf and Melinda Morrill

No 23501, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Ensuring retirement income security is a priority for individuals, employers, and policymakers. Using merged administrative and survey data for public sector workers in North Carolina, we explore how workers’ characteristics and preferences are associated with planning and saving for retirement. We then assess the “quality” of a retirement plan and whether retirement behavior is consistent with these plans. The findings indicate that the way that individuals discount future consumption is associated with the extent of their retirement planning and preparedness. We find that individuals who engage in retirement planning are better prepared to meet their retirement goals upon leaving their career jobs.

JEL-codes: J32 (search for similar items in EconPapers)
Date: 2017-06
New Economics Papers: this item is included in nep-age and nep-lma
Note: AG
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Published as Robert L. Clark & Robert G. Hammond & Christelle Khalaf, 2019. "Planning for Retirement? The Importance of Time Preferences," Journal of Labor Research, vol 40(2), pages 127-150.

Downloads: (external link)
http://www.nber.org/papers/w23501.pdf (application/pdf)

Related works:
Journal Article: Planning for Retirement? The Importance of Time Preferences (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:23501

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w23501

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().