An Application of the Resource-Based Dynamic Process Model in the Context of Retirement Planning

Bibliographic Data

ID13018220
AuthorsJack Noone (0000-0003-4106-3449, UNSW Sydney, corresponding author), Joanne K Earl (0000-0002-0232-053X, Macquarie University), Joanne Earl (Macquarie University), Christine Stephens (0000-0003-1325-3579, Massey University), Julia Carolina Rafalski (Universidade Federal do Espírito Santo), Julia Rafalski (Universidade Federal do Espírito Santo), Joanne Allen (0000-0002-5003-8088, Massey University), Fiona Alpa (0000-0003-3032-0243, Massey University), FIONA ALPASS (Massey University), Giorgio Topa (0000-0002-9181-8603, Universidad Nacional de Educación a Distancia), Gabriela Topa (Universidad Nacional de Educación a Distancia)
EditorsKène Henkens (0000-0002-3416-5191)
Year2021
Volume8
Issue3
Pages225-240
Publication date2021-02-19
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueWork Aging and Retirement (JOURNAL)
Journal identifiersISSN: 2054-4650 • E-ISSN: 2054-4650
PublisherOxford University Press (OUP) (PUBLISHER)
DOI10.1093/workar/waab006
OpenAlexW3182938685
LanguageEN
Citations received10
References cited89

Retirement planning is a widely promoted activity to enhance wellbeing for aging populations. However, there is limited follow-up data to understand the antecedents of multi-dimensional retirement planning activities, the resources such activities produce or the explanatory mechanisms. This research draws on recent theorizing, which suggests that retirement planning may play a mediating role in explaining how pre-retirement antecedents are transformed into retirement resources. Antecedents, planning and retirement resources were examined using 3 waves of follow-up data collected in 2006, 2008, and 2014. Four hundred thirty-five people originally employed in 2008 and retired by 2014 participated in the study. Health, income, and a positive retirement attitude (T1) were the strongest predictors of retirement planning (T2), but job satisfaction and occupation also played smaller predictive roles. Financial planning (T2) predicted health, psychosocial, and financial resources in retirement (T3). However, health, lifestyle, and psychosocial planning played a minimal role in explaining retirement resources, and only financial planning demonstrated noteworthy evidence of mediation. Findings can help to inform policy decisions by identifying those at greatest risk of not planning, and to isolate the factors most likely to explain the longer-term effects of planning. Understanding which resources are predicted by different domains of planning will also help inform the targeting of interventions

Actuarial science · Business · Context (archaeology · Demographic economics · Economics · Environmental resource management · Financial plan · Health and Retirement Study · Mediation · Political science · Process (computing · Psychological intervention · Psychosocial · Resource (disambiguation · Resource planning · Retirement planning · Strategic human resource planning · Strategic planning · Health disparities and outcomes · Medicine · Migration, Aging, and Tourism Studies · Psychology · Retirement, Disability, and Employment · Finance · Gerontology · Marketing

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