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Retirees, Financial Planning Horizon, and Retirement Satisfaction

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  • Pearson Blain M.

    (Assistant Professor of Finance, Department of Finance and Economics, Coastal Carolina University, 119 E Chanticleer Dr, Conway, SC 29526, Phone (828) 455-2617, Conway, United States)

  • Lacombe Donald

    (Associate Professor, School of Financial Planning, Texas Tech University, Box 41210, Lubbock, TX 79409-1210, Lubbock, United States)

Abstract

This study examines the association between retiree financial planning horizon and retirement satisfaction using longitudinal data collected from the Health and Retirement Study. The results indicate that retirees with long-term financial planning horizons, compared to retirees with short-term financial planning horizons, are more likely to be satisfied with their retirement. The findings and ensuing discussion highlight the need for long-term financial planning during retirement and the need for financial planners to regularly engage in financial planning throughout their clients’ retirement.

Suggested Citation

  • Pearson Blain M. & Lacombe Donald, 2022. "Retirees, Financial Planning Horizon, and Retirement Satisfaction," Financial Planning Research Journal, Sciendo, vol. 8(1), pages 26-39.
    • Handle: RePEc:vrs:finprj:v:8:y:2022:i:1:p:26-39:n:1002
    DOI: 10.2478/fprj-2022-0002
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    References listed on IDEAS

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    3. Annamaria Lusardi & Olivia Mitchell, 2006. "Financial Literacy and Retirement Preparedness: Evidence and Implications for Financial Education Programs," Working Papers wp144, University of Michigan, Michigan Retirement Research Center.
    4. Elder, Harold W. & Rudolph, Patricia M., 1999. "Does retirement planning affect the level of retirement satisfaction?," Financial Services Review, Elsevier, vol. 8(2), pages 117-127.
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