Personality Traits and Economic Preparation for Retirement
dc.contributor.author | Hurd, Michael D. | |
dc.contributor.author | Duckworth, Angela Lee | |
dc.contributor.author | Rohwedder, Susann | |
dc.contributor.author | Weir, David R. | |
dc.date.accessioned | 2013-03-26T16:16:17Z | |
dc.date.available | 2013-03-26T16:16:17Z | |
dc.date.issued | 2012-09 | |
dc.identifier.uri | https://hdl.handle.net/2027.42/97019 | |
dc.description | Working paper: WP2012-279 | en_US |
dc.description.abstract | This paper assesses the effects of personality traits on economic preparation for retirement, wealth accumulation, and consumption, among persons 66 to 69 years of age. Among the five chief personality traits of neuroticism, extroversion, agreeableness, conscientiousness, and openness, we focus most on conscientiousness. We find levels of adequate economic preparation for retirement ranging from 29 percent to 90 percent and that conscientiousness positively affects the proportion of persons adequately prepared for retirement, while neuroticism negatively affects it. Both consumption and wealth increase with conscientiousness but wealth increases faster, indicating that more conscientious persons save more out of retirement resources. | en_US |
dc.description.sponsorship | Social Security Administration | en_US |
dc.language.iso | en_US | en_US |
dc.publisher | Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104 | en_US |
dc.relation.ispartofseries | WP2012-279 | en_US |
dc.subject | Personality Traits, Conscientiousness, Retirement Preparedness, Savings, Consumption, Earnings | en_US |
dc.title | Personality Traits and Economic Preparation for Retirement | en_US |
dc.type | Working Paper | en_US |
dc.subject.hlbsecondlevel | Population and Demography | |
dc.subject.hlbtoplevel | Social Sciences | |
dc.contributor.affiliationother | RAND | en_US |
dc.contributor.affiliationother | University of Pennsylvania | en_US |
dc.contributor.affiliationother | RAND | en_US |
dc.contributor.affiliationumcampus | Ann Arbor | en_US |
dc.contributor.affiliationumcampus | Survey Research Center | |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/97019/1/wp279.pdf | |
dc.owningcollname | Retirement and Disability Research Center, Michigan (MRDRC) |
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