Individual Financial Planning for Retirement [electronic resource] :Empirical Insights from the Affluent Segment in Germany / by Nicole Brunhart.
by Brunhart, Nicole [author.]; SpringerLink (Online service).
Material type:
BookSeries: Contributions to Economics: Publisher: Heidelberg : Physica-Verlag HD, 2008.Description: online resource.ISBN: 9783790819984.Subject(s): Economics | Population | Finance | Aging -- Research | Economics/Management Science | Financial Economics | Population Economics | AgingDDC classification: 332 Online resources: Click here to access online | Item type | Current location | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|
| MAIN LIBRARY | HG1-9999 (Browse shelf) | Available |
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| HF4999.2-6182 The Paradoxical Foundation of Strategic Management | HD28-70 Management of Convergence in Innovation | HB139-141 High Frequency Financial Econometrics | HG1-9999 Individual Financial Planning for Retirement | HD4801-8943 Gender, Ethnicity and Employment | HD72-88 Chinese Railways | HD72-88 Foundations for Local Governance |
Frame of reference and conceptual approach for the analysis of individual retirement-specific financial planning behavior -- Fundamentals of the retirement system in Germany -- Retirement-specific behavioral finance and derivation of benchmark behavior for FP actions -- Investor retirement survey and outlook on empirical analyses about individual retirement-specific FPB -- Empirical analyses of individual retirement-specific FPB -- Review of empirical research and identification of suggestions for policy-makers, financial planners and the individual -- Conclusion.
Over time, the responsibility for providing for a financially secure retirement has shifted more towards the individual. A number of implicit assumptions about perspectives, behavior, and individual choices underlie this shift. These assumptions presume that individuals are well-informed and reason unemotionally; that they process information correctly; and that they take rational decisions and act to maximize their own welfare. Empirical evidence, however, shows that such maxims do not often guide individuals’ actual behavior. Building on a new structure applied to insights drawn from behavioral finance, this book analyzes the perspectives of individuals with regard to their financial situation in retirement and compares the actions they take with ideal behavior. The work provides new insights into the broadly defined topic of individual retirement-specific financial planning behavior. The research builds on over 500 interviews with affluent individuals in Germany and contributes to defining ways in which policy-makers, financial planners, and individuals themselves can improve financial provisioning for retirement.
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