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Decision Making Clusters in Retirement Savings: Preliminary Findings

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Author Info

  • Marilyn Clark-Murphy

    ()
    (Edith Cowan University)

  • Craig P. Speelman

    (Edith Cowan University)

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    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.

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    Bibliographic Info

    Article provided by Bankwest Curtin Economics Centre (BCEC), Curtin Business School in its journal Australian Journal of Labour Economics.

    Volume (Year): 10 (2007)
    Issue (Month): 2 (June)
    Pages: 115-127

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    Handle: RePEc:ozl:journl:v:10:y:2007:i:2:p:115-127

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    Postal: GPO Box U1987, Perth WA 6845
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    Web page: http://business.curtin.edu.au/research/publications/journals/ajle/
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    Related research

    Keywords: Retirement; Retirement Policies Investment Decisions Personal finance;

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    Cited by:
    1. Craig Speelman & Marilyn Clark-Murphy & Paul Gerrans, 2013. "Decision Making Clusters in Retirement Savings: Gender Differences Dominate," Journal of Family and Economic Issues, Springer, vol. 34(3), pages 329-339, September.

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