TY - JOUR
T1 - Timing of retirement
T2 - Including a delay discounting perspective in retirement models
AU - Bidewell, John
AU - Griffin, Barbara
AU - Hesketh, Beryl
PY - 2006/4
Y1 - 2006/4
N2 - This research examined the influence of delay and anticipated health and enjoyment on the amount of retirement savings sacrificed for early retirement. In addition to testing and supporting predictions that willingness to sacrifice retirement savings would be less with shorter delays to retirement, greater anticipated health, and greater anticipated enjoyment, an individual difference delay discounting measure derived from experimental studies was used to extend the Beehr, Glazer, Nielson, and Farmer's (2000) model of retirement age. We predicted and found that oldest preferred retirement age related to personal characteristics, current work factors, future retirement factors, and individual differences in delay discounting, with greater delay discounting being associated with a younger preferred retirement age. Findings suggest that delay discounting is an important consideration in retirement planning and also highlight the significance that retirement expectations and being tired of work have in affecting one's preferred retirement age.
AB - This research examined the influence of delay and anticipated health and enjoyment on the amount of retirement savings sacrificed for early retirement. In addition to testing and supporting predictions that willingness to sacrifice retirement savings would be less with shorter delays to retirement, greater anticipated health, and greater anticipated enjoyment, an individual difference delay discounting measure derived from experimental studies was used to extend the Beehr, Glazer, Nielson, and Farmer's (2000) model of retirement age. We predicted and found that oldest preferred retirement age related to personal characteristics, current work factors, future retirement factors, and individual differences in delay discounting, with greater delay discounting being associated with a younger preferred retirement age. Findings suggest that delay discounting is an important consideration in retirement planning and also highlight the significance that retirement expectations and being tired of work have in affecting one's preferred retirement age.
KW - Delay discounting
KW - Enjoyment
KW - Health
KW - Retirement
UR - http://www.scopus.com/inward/record.url?scp=33645024632&partnerID=8YFLogxK
U2 - 10.1016/j.jvb.2005.06.002
DO - 10.1016/j.jvb.2005.06.002
M3 - Article
AN - SCOPUS:33645024632
SN - 0001-8791
VL - 68
SP - 368
EP - 387
JO - Journal of Vocational Behavior
JF - Journal of Vocational Behavior
IS - 2
ER -