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The Relevance of Financial Education for Retirement Savings Behaviour

Ntalianis, Michael and Wise, Victoria (2010) The Relevance of Financial Education for Retirement Savings Behaviour. International Review of Business Research Papers, 6 (1). pp. 631-645. ISSN 1837-5685 (print) 1832-9543 (online)

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Abstract

This paper was motivated by the growing literature that suggests that individuals fail to conform to rational economic behaviour when it comes to saving for retirement. A review of the relevant literature confirmed that many individuals fail to save for retirement in a rational way as prescribed by the Modigliani and Brumberg (1954) economic life-cycle model. Numerous studies show that many individuals exhibit irrational behaviour when it comes to planning and saving for retirement. The literature review identified that exposure to financial education programs can positively influence the planning and savings behaviour of retirement fund members.

Item Type: Article
Uncontrolled Keywords: ResPubID20559, financial education programs, retirement planning, retirement savings
Subjects: Faculty/School/Research Centre/Department > School of Accounting
FOR Classification > 1502 Banking, Finance and Investment
SEO Classification > 9001 Financial Services
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Depositing User: VUIR
Date Deposited: 07 Jun 2012 00:42
Last Modified: 14 Aug 2012 06:35
URI: http://vuir.vu.edu.au/id/eprint/7309
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