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Uses multivariate prediction modeling to identify population segments (key demographics)
Provides multivariate analyses of factors in pre-retirees’ decisions to delay retirement and their usage of professional financial advisors.
Provides analytical tools that help researchers who need to target multidimensional population segments in contexts where cross-tabulations are unusable
Contains analysis of factors that help to explain three steps toward use of professional financial advisors
Presents unique charts about the age pattern of the one-year probability of going into retirement within an ageing cohort and about older-worker flows into and out of labour market statuses
Key Demographics in Retirement Risk Management argues that the weakening of public and employer-sponsored social safety nets in several countries will permanently increase pre-retirees’ risk-anxiety and create pressure towards readjustment of their expectations about the quality of their lives in retirement. The result will be to raise the priority of achieving effective comprehensive retirement related risk management. This achievement requires an emphasis upon the cascading of linked risks, and careful attention to the optimization of scarce resources used to manage those linked risks. Professional financial and retirement planning advisors comprise a key source of help. This book develops new knowledge concerning the factors that help to explain three important aspects of access to these professional advisors. The results of this analysis are used to illustrate the process of identifying distinctive population segments, key demographics, on the basis of multiple population attributes treated simultaneously. The illustration is further extended with an identification of distinctive population segments relative to performance on a composite indicator of the conduct of multiple retirement risk management activities. The book also discusses implications of the pattern of gender differences in preparedness to address retirement’s challenges, highlighting subgroups of women in which inadequate preparedness is pronounced.
Content Level »Research
Keywords »2007-2009 financial crisis - Delay retirement - Distinctive population segment - Economic risk - Financial advisors - Gender differences - Key Demographics - Multi-Mode risk management - Multimodal risk management - Parameters of multivariate prediction models - Pension scheme - Personal risk management - Population Aging - Population Composition - Pre-retirees - Prediction Modelling - Retirement related risk management
Preface: Leroy O. Stone.- Acknowledgment.- About the Authors.- 1: Introduction: A New Priority for Personal Retirement Related Risk Management: Leroy O. Stone and Jacques Légaré.- 2: Emerging Policy Directions Affecting Economic Risk: Terrance Hunsley.- 3: Overview of the Dimensions of Preparedness for Retirement: Carien Jutting and Av Lieberman.- 4: The Fall in Confidence Among the Pre-Retired: Leroy O. Stone and Gerard Rainville.-5: Key Demographics in the Use of Professional Financial Advisors; Leroy O. Stone and Gerard Rainville.- 6: Distinctive Population Segments in Multi-Mode Risk Management: Leroy O. Stone.-7: Gender Differences in Preparedness to Meet Retirement’s Challenges: Leroy O. Stone and Brigitte Neumann.- 8: Epilogue: Lessons and Proposals: Leroy O. Stone, Gerard Rainville, Brigitte Neumann, Carien Jutting, and Terrance Hunsley.