Economics at your fingertips  

And tomorrow, how will it be? Developing a Financial Preparation for Retirement Scale (FPRS)

Kelmara Mendes Vieira, Tamara Otilia Amaral Rosenblum and Taiane Keila Matheis

Journal of Behavioral and Experimental Finance, 2022, vol. 35, issue C

Abstract: The objective of the study was to develop and validate a financial preparation scale for retirement. A scale with 19 items on a five-point Likert scale was developed. Validation involved two phases and four steps. In the qualitative phase, validation by specialists and the pre-test were carried out. In the quantitative phase, a sample of 650 respondents was used in the exploratory step and another sample of 1,624 individuals in the confirmatory validation. The result of the study is the construction and validation of the Financial Preparation for Retirement Scale (FPRS) with 13 items distributed in three dimensions (future expectation, financial planning and saving behavior) that identifies how respondents perceive their financial preparation for retirement. A methodology for applying the FPRS is presented, what constitutes a practical contribution to researchers, managers and public policy makers once they may use it as an indicator to assess financial preparation for retirement of citizens.

Keywords: Retirement; Financial planning; Scale; Psychometric tests; Future expectations; Saving behavior; Behavioral finance; Personal finance (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)

Related works:
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:

DOI: 10.1016/j.jbef.2022.100709

Access Statistics for this article

Journal of Behavioral and Experimental Finance is currently edited by Michael Dowling and Jürgen Huber

More articles in Journal of Behavioral and Experimental Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

Page updated 2022-11-12
Handle: RePEc:eee:beexfi:v:35:y:2022:i:c:s221463502200048x