Personality Traits and Low Wealth at Retirement

Meryl Motika ()
Additional contact information
Meryl Motika: University of California

Eastern Economic Journal, 2019, vol. 45, issue 3, No 7, 464-476

Abstract: Abstract This paper builds on research linking personality traits to saving and wealth by focusing on determinants of very low wealth among American men aged 60–66. There is a strong and robust relationship between personality traits, particularly conscientiousness, and low relative wealth. The size of the effect is similar to those of risk aversion and time preference and is not explained by these factors or by income, age, or family size. The relationship between personality and wealth is found to be specific to people with low relative wealth and is independent of education and financial literacy.

Keywords: Saving; Wealth; Personality; Retirement (search for similar items in EconPapers)
JEL-codes: D14 (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)

Downloads: (external link)
http://link.springer.com/10.1057/s41302-018-0112-y Abstract (text/html)
Access to full text is restricted to subscribers.

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: https://EconPapers.repec.org/RePEc:pal:easeco:v:45:y:2019:i:3:d:10.1057_s41302-018-0112-y

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/41302

DOI: 10.1057/s41302-018-0112-y

Access Statistics for this article

Eastern Economic Journal is currently edited by Allan Zebedee and Cynthia Bansak

More articles in Eastern Economic Journal from Palgrave Macmillan, Eastern Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().