The Role of Self-Control on Retirement Preparedness of US Households
By Kyoung Tae Kim (University of Alabama), Jae Min Lee (Minnesota State University) & Eunice O. Hong (Sungshin Women's University) We examine the self-control problems of U.S households and their effects on households’ retirement preparedness based on the Behavioral Life-Cycle Hypothesis. Using the 2010 Survey of Consumer Finances dataset, the level of retirement adequacy was estimated with income replacement ratio (IRR), and only 42% of households were adequately prepared for retirement. Results from logistic regression analysis indicated that households with...