Social and Behavioral Sciences Commons^™

The Role And Relevance Of Domain Knowledge, Perceptions Of Planning Importance, And Risk Tolerance In Predicting Savings Intentions, Peter Croy, Paul Gerrans, Craig Speelman

Research outputs pre 2011

The need for individuals to increase retirement savings has been widely promoted, yet our understanding of the motivations of individuals to save at a higher rate remains sparse. This paper reports the findings of a survey of 2300 retirement savings fund members and their motivations to contribute more to savings and to actively manage their investment strategy. Utilising the theory of planned behavior, the study reveals respondent’s self-reported attitudes, subjective norms and perceptions of behavioral control account for a high proportion of the variance in behavioral intention. Contrary to expectations, the study finds that respondent’s risk tolerance adds little to …