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Welcome to the 2017 AFS Annual Meeing, being held this year, in conjunction with FPA in Nashville!
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Monday, October 2 • 10:45am - 11:45am
G3b Why do Most Working Households Not List Saving for Retirement as an Important Goal? The Role of Financial Planner

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We use data from the 2010 and 2013 Survey of Consumer Finances to examine the association between financial planner use and setting a retirement saving goal. Results show that households who consulted a financial planner are more likely to give retirement as the motive for saving. We also find that advice from a financial planner has a greater influence on the goal setting than other sources of professional advisory services. Our findings suggest that financial planners indeed help individuals achieving their long-term financial objectives by alerting the importance of retirement planning.

Author(s): Kyoung Tae Kim, Tae-Young Pak

avatar for Kyoung Tae (KT) Kim

Kyoung Tae (KT) Kim

Assistant Professor, University of Alabama

Monday October 2, 2017 10:45am - 11:45am

Attendees (1)