Retirement: why delay? Insights into the consumer decision-making process

C. M. Rickwood, L. White, K. Hughes

Research output: Chapter in Book/Report/Conference proceedingConference proceeding contributionpeer-review


This study brings together both consumer behaviour and economic psychology literature to gain insights and understanding of the consumer decision-making process in the context of saving for retirement. Three research questions concerning the reasons that consumers delay saving for retirement; use a financial planner; and save but do not use a financial planner, directed the research. A factor analysis of 194 usable questionnaires led to a typology of 10 components divided between three groups correlating directly with the research questions. A key component that emerged in the factor analysis is the role of risk in delaying decision-making when financially planning for retirement. This exploratory research suggests that there are at least 11 factors associated with pre-purchase decision-making that cause consumers to delay decision-making or to take action with regard to saving for retirement.
Original languageEnglish
Title of host publicationANZMAC 2007
Subtitle of host publicationproceedings : 3Rs - reputation, responsibility and relevance
EditorsMaree Thyne, Kenneth R. Deans, Juergen Gnoth
Place of PublicationDunedin, N.Z.
PublisherUniversity of Otago
Number of pages7
ISBN (Print)9781877156299
Publication statusPublished - 2007
EventAustralian and New Zealand Marketing Academy Conference (2007) - Dunedin, New Zealand
Duration: 3 Dec 20075 Dec 2007


ConferenceAustralian and New Zealand Marketing Academy Conference (2007)
CityDunedin, New Zealand


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