Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Psychology
When Are Impending Retirees Inspired To Save: The Role Of Agreeableness And Future Clarity, Simon A. Moss, Era Ghafoori
When Are Impending Retirees Inspired To Save: The Role Of Agreeableness And Future Clarity, Simon A. Moss, Era Ghafoori
Journal of Financial Therapy
In the decade or so before they retire, many individuals do not save enough money to maintain their lifestyle after retirement. According to the self-continuity hypothesis, as individuals approach a transition in their life, such as retirement, they are not as willing to sacrifice pleasure now to benefit their future, impeding their tendency to save money judiciously and to manage their finances prudently. This longitudinal study, however, tested the hypothesis that impending retirees who are agreeable or perceive their future as vivid and certain, called future clarity, are more likely to manage their finances prudently, despite this looming transition. In …
How To Prevent Unhelpful Personality Traits From Evolving Into Unhelpful Financial Behaviors: The Benefits Of Future Clarity, Simon Andrew Moss, Eraj Ghafoori, Liam Smith
How To Prevent Unhelpful Personality Traits From Evolving Into Unhelpful Financial Behaviors: The Benefits Of Future Clarity, Simon Andrew Moss, Eraj Ghafoori, Liam Smith
Journal of Financial Therapy
Many organizations have implemented programs to improve the financial behavior of impending retirees and other vulnerable demographics. These programs are predicated on the assumption that financial behavior is indeed modifiable. Yet, many enduring traits, such as emotional instability, could promote financial anxiety and provoke imprudent financial behaviors, limiting the utility of these programs. This study, however, tests the possibility that future clarity—the degree to which individuals perceive their future as vivid and certain—could diminish the extent to which emotional instability coincides with financial anxiety and imprudent financial behavior. Specifically, 1516 participants over 50 completed a questionnaire that gauges emotional instability, …