Decision Making Clusters in Retirement Savings: Preliminary Findings

Marilyn Clark-Murphy () and Craig P. Speelman
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Marilyn Clark-Murphy: Edith Cowan University
Craig P. Speelman: Edith Cowan University

Australian Journal of Labour Economics (AJLE), 2007, vol. 10, issue 2, 115-127

Abstract: The aim of the present study was to explore whether identifiable member clusters exist in retirement savings decisions by considering the investment choice history of the members of four large Australian retirement savings funds. We used a two-step cluster analysis to examine whether well-defined sub-groups exist as identified by their investment choices and member demographics. Funds were tested individually and collectively using a range of variables. Distinct groups were found, varying along gender and age lines. There were also clear distinctions between the groups in terms of the risk of the investments they chose. Future work is discussed, including the refinement of variables selected.

Keywords: Retirement; Retirement Policies; Investment Decisions; Personal finance (search for similar items in EconPapers)
JEL-codes: D14 G11 J26 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (1)

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