scholarly journals Financial Planning for Retirement: Developing an Integrated Model

2021 ◽  
Vol 5 (Supplement_1) ◽  
pp. 912-912
Author(s):  
Dannii Yeung ◽  
Alvin Ho ◽  
Alfred Lam
Keyword(s):  
Financial Literacy ◽  
Financial Planning ◽  
Older Workers ◽  
Online Survey ◽  
Time Perspective ◽  
Integrated Model ◽  
Future Time Perspective ◽  
Working Adults ◽  
Positive Effects ◽  
Financial Products

Abstract With higher life expectancy of the aging population, retirees nowadays will spend a prolonged period of time after retirement. Yet, past studies have consistently revealed a lack of retirement savings among working adults, implying an inadequacy to maintain the quality of life in late adulthood. This study therefore aims to identify the factors influencing the working adults’ intention to purchase financial products for retirement (such as deferred annuity and voluntary contribution to retirement fund) and develop an integrated model of financial planning for retirement. A total of 598 Hong Kong Chinese working adults from diverse age and income groups completed an online survey on intentions to save and purchase specific financial products for retirement. The results of MANCOVA reveal that compared to older workers, younger workers had lower intentions to save and purchase financial products for their retirement even after controlling for their monthly income [F(16,1797)=2.24, p=.003, partial n2=.015]. An integrated model of financial planning for retirement is proposed by incorporating the concepts of the interdisciplinary psycho-motivation model and Theory of Reasoned Actions (χ2 = 40.42, p<.001, CFI = .99, RMSEA = .07, SRMR = .02). In particular, the positive effects of financial literacy, subjective norms, social support, and future time perspective on intention to save and purchase financial products for retirement have been found to be mediated by retirement goal clarity but not attitudes towards retirement. Future direction on promoting younger and older workers’ retirement planning especially in the financial domain will also be discussed in the presentation.

scholarly journals Perceptions of retirement adequacy in Lesotho: Behavioural and socio-economic influences

2018 ◽  
Vol 11 (1) ◽  
Author(s):  
Tokiso Nthebe ◽  
Michelle Reyers
Keyword(s):  
Financial Literacy ◽  
Financial Risk ◽  
Online Survey ◽  
Time Perspective ◽  
Financial Sector ◽  
Future Time Perspective ◽  
Risk Tolerance ◽  
Bivariate Analysis ◽  
Future Research ◽  
Multivariate Techniques

Orientation: Saving for retirement is complicated for employees because of the complexity of the financial decisions involved. Financial decision-making is believed to be associated with a number of behavioural and socio-economic factors, and these factors may in turn be related to whether employees perceive themselves to be adequately saving for retirement.Research purpose: This study assesses which factors predict whether individuals working in both the financial and non-financial sectors in Lesotho perceive themselves to be adequately preparing for retirement. The main focus is on financial literacy (FL), financial risk tolerance (FRT) and future time perspective (FTP). As a secondary focus, the study looks at the potential differences between two sectors of employees that may be attributed to differing levels of FL.Motivation for the study: This study focuses on Lesotho to provide an African context on retirement saving and hopefully lay the foundation for future research in the field of retirement saving.Research approach/design and method: Data were collected from 200 participants using an online survey at three companies in Lesotho and analysed using bivariate and multivariate techniques, with a linear regression model used in terms of the multivariate analysis.Main findings: This study finds that FL, FRT and FTP are all positively related to perceived retirement adequacy (RA) in the bivariate analysis. In the multivariate analysis, for those working outside the financial sector, objective FL, subjective FL and FTP were positively related to perceived RA, whereas for those in the financial sector, higher levels of FTP, higher household income and being older were all associated with higher levels of perceived RA.Practical/managerial implications: The participants in this study are not representative of the broader Lesotho population; therefore, further research would be required before this conclusion is generalised.Contribution/value-add: These findings provide insights to industry role players about the profile of individuals who are confident about retirement savings and how this contrasts with those who are not confident.

scholarly journals Occupational Future Time Perspective Mediates Age Differences in Conflict Strategies

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 406-406
Author(s):  
Dannii Yeung ◽  
Alvin Ho
Keyword(s):  
Age Differences ◽  
Older Workers ◽  
Online Survey ◽  
Time Perspective ◽  
Future Time Perspective ◽  
Future Time ◽  
Cross Sectional ◽  
Age Related ◽  
Age Variations ◽  
Conflict Strategies

Abstract Building on the theoretical framework of socioemotional selectivity theory (Carstensen, 2006), this presentation reports the findings of two studies conducted in Hong Kong Chinese workers to examine whether occupational future time perspective (OFTP) can account for the age differences in conflict strategies. Study 1 is a cross-sectional study with 416 working adults completed an online survey on conflict management (Mage=39.1 years, SD=12.1), and Study 2 is a laboratory study with 123 workers (Mage=40.1 years, SD=12.1) indicated their behavioural responses after watching hypothetical workplace conflict videos. In both studies, five conflict strategies (integrating, compromising, obliging, avoiding, and dominating) and OFTP (focus on opportunities and focus on limitations) were assessed. Parallel mediation analyses were performed. The results of Study 1 showed that both focus on opportunities and focus on limitations mediated the effects of age on obliging (b = -.006, SE=.002; and b = .006, SE=.002, respectively), avoiding (b = -.005, SE=.002; and b =.008, SE=.002, respectively), and dominating (b = -.014, SE=.003; and b = .009, SE=.002, respectively). Focus on opportunities could only account for the effects of age on integrating and compromising. The results of Study 2 showed that only focus on limitation could account for the age variations in the use of avoiding (b = .196, SE = .058) when facing intergenerational conflicts. The findings of this project reveal that the age-related focus on limitations increases older workers’ likelihood to utilize maladaptive conflict strategies, such as dominating and avoiding, to deal with conflicts occurred in the workplace.

Work-family enrichment and well-being: the role of occupational future time perspective

2018 ◽  
Vol 23 (6/7) ◽  
pp. 542-556 ◽  
Author(s):  
Hélène Henry ◽  
Donatienne Desmette
Keyword(s):  
Emotional Exhaustion ◽  
Work Engagement ◽  
Older Workers ◽  
Time Perspective ◽  
Well Being ◽  
Future Time Perspective ◽  
Content Type ◽  
Work Family ◽  
The Relationship

Purpose In the context of workforce aging, the purpose of this paper is to investigate the mediating role of occupational future time perspective (OFTP) in the relationship between work–family enrichment (WF-E) and two well-being outcomes (i.e. work engagement and emotional exhaustion). In addition, the moderating role of age on the relationship between WF-E and OFTP, and consequently, on the indirect effects of WF-E on work engagement and emotional exhaustion through OFTP, will be examined. Design/methodology/approach Cross-sectional survey research (n=263) was conducted in a public sector company in Belgium. Structural equation modeling and bootstrap analyses were performed to investigate the hypothesized relationships. Findings The dimension “remaining opportunities” of OFTP mediated the positive relationship between WFE and work engagement, and the negative relationship between WFE and emotional exhaustion. Chronological age moderated the positive relationship between WFE and the dimension “remaining time” of OFTP, with stronger effects among older workers. Research limitations/implications This research has confirmed that OFTP is influenced by WFE and that WFE matters, especially for older workers. Future research should continue to study the effects of the work–family interface on older workers. Practical implications Age management practices should take WFE into consideration when managing an aging workforce. In particular, older workers may benefit from WFE to increase their perception of remaining opportunities at work, which, in turn, increase well-being. Originality/value This study contributes evidence for the role of personal resources (i.e. remaining opportunities) in the relationship between WF-E and well-being at work.

Age-inclusive HR practices and the thriving of older workers: the mediating role of occupational future time perspective

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Eduardo Oliveira
Keyword(s):  
Surface Analysis ◽  
Older Workers ◽  
Time Perspective ◽  
Future Time Perspective ◽  
Future Time ◽  
Content Type ◽  
Hr Practices ◽  
The Relationship ◽  
Remaining Time

PurposeDrawing on social exchange theory and socio-emotional selectivity theory, this paper examines the role of occupational future time perspective (OFTP) in the relationship between age-inclusive HR practices (AIHRP) and the thriving of older workers.Design/methodology/approachA two-wave cross-sectional design was adopted with bootstrapped parallel multiple mediation analyses. In addition, polynomial regression with response surface analysis was used to examine the extent to which combinations of focus on opportunities and remaining time relate to thriving at work. Data were collected from 310 older workers working in 13 companies located in Portugal.FindingsAIHRP have direct effects on OFTP dimensions (i.e. focus on opportunities and remaining time), and indirect effects on the two thriving dimensions (i.e. learning and vitality) via focus on opportunities. The positive relationship between AIHRP and learning was mediated by remaining time, while no significant mediating effect on vitality through remaining time was found. Additionally, surface analysis showed that overall thriving and learning increase more sharply when focus on opportunities is higher than remaining time, rather than vice versa.Originality/valueThis paper contributes to the literature by showing the importance of personal resources like OFTP in the relationship between AIHRP and the thriving of older workers. It also provides further support for the distinctiveness of the two OFTP dimensions as remaining time was not linked to vitality, whereas focus on opportunities was linked to both thriving dimensions.

Meeting mirth: The critical role of impression management and humor style in meetings

2019 ◽  
Vol 32 (1) ◽  
pp. 23-48
Author(s):  
John Crowe ◽  
Michael Yoerger ◽  
Mackenzie Harms ◽  
Nale Lehmann-Willenbrock ◽  
Joseph A. Allen
Keyword(s):  
Impression Management ◽  
Online Survey ◽  
Critical Role ◽  
Management Strategies ◽  
Humor Styles ◽  
Working Adults ◽  
Positive Effects ◽  
Aggressive Humor ◽  
Meeting Satisfaction

Abstract Drawing from theory on humor styles, impression management, and workplace meetings, we conducted two survey studies of working adults to examine the role of positive and negative humor on meeting satisfaction. We began by investigating the positive effects of humor on meeting satisfaction as moderated by impression management. In an online survey of working adults, we found that humor use in meetings was positively related to meeting satisfaction. Impression management moderates this relationship, such that the positive relationship between the use of humor in meetings and meeting satisfaction is significantly stronger for individuals who report relatively low impression management. In a second study, we investigated perceptions of impression management use in meeting humor. Using an experimental 2×2 factorial design, we investigated how use of impression management strategies differentially impacts meeting attendees’ perceptions of humor styles. We found that affiliative humor resulted in greater meeting satisfaction than aggressive humor. Furthermore, use of impression management enhanced meeting satisfaction following aggressive humor and diminished meeting satisfaction following affiliative humor.

scholarly journals Female workers' readiness for retirement planning: an evidence from Indonesia

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Linda Evelina Larisa ◽  
Anastasia Njo ◽  
Serli Wijaya
Keyword(s):  
Financial Literacy ◽  
Time Perspective ◽  
Structural Model ◽  
Retirement Planning ◽  
Future Time Perspective ◽  
Risk Tolerance ◽  
Primary Data ◽  
Content Type ◽  
Female Workers ◽  
The Government

PurposeThe purpose of this study is to examine the effects of demographical factors (age, education and income); psychological factors which are future time perspective (FTP) and financial risk tolerance (FRT); along with financial literacy on retirement planning among female workers in Indonesia.Design/methodology/approachThis study applies a quantitative approach, where primary data was acquired through online surveys to 529 workers in various locations in Indonesia. After data cleaning, the final sample size was 304. The PLS-SEM technique was utilised to assess the structural model in the study.FindingsThe results of this study show that income affects an individual's perspective towards the future. Financial literacy is confirmed to have a direct effect on retirement planning activity. Furthermore, financial literacy appears to be a significant mediator between demographical factors and FTP in affecting retirement planning. An individual's acceptance towards risk is also affected by financial literacy.Practical implicationsThe general public, especially female workers group who have no retirement funds, need to be educated on financial literacy. The government might need to encourage other parties and work together to financially educate the public, specifically regarding investments for retirement planning.Originality/valueMost previous studies on retirement planning focused on demographical factors in general, and not specifically on a certain group. Filling the gap of existing studies, this study specifically discusses retirement planning done by female workers in Indonesia. Women's role as a workforce, with their psychological conditions and financial literacy, makes for an interesting topic to be studied further in terms of retirement planning.

Age-inclusive HR practices and the thriving of older workers

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Keyword(s):  
Indirect Effects ◽  
Older Workers ◽  
Time Perspective ◽  
Future Time Perspective ◽  
Content Type ◽  
Hr Practices ◽  
The Relationship ◽  
Remaining Time ◽  
Practical Implications

Purpose The paper examines the role of occupational future time perspective (OFTP) in the relationship between age-inclusive HR practices (AIHRP) and the thriving of older workers. Design/methodology/approach The author collected data in two waves three months apart. He obtained 310 valid surveys from workers aged between 50 and 70 with an average age of 56. There were 120 males and 190 females. Nearly three quarters were in a relationship and 59pc had attended higher education Findings The results showed that AIHRP were positively related to thriving and learning, as well as vitality. The relationship between AIHRP and OFTP dimensions were also positive and statistically significant, and there were significant indirect effects of AIHRP on overall thriving via a focus on opportunities and also via remaining time. Meanwhile, there were positive indirect effects of AIHRP on learning through focus on opportunities and through remaining time. For the link between AIHRP and vitality, focus on opportunities mediates the effect of AIHRP on vitality, but remaining time was not related to vitality. Originality/value The results have both theoretical and practical implications. For researchers the paper demonstrates the importance of personal resources like OFTP and is one of the few studies to distinguish between the motivational role of each OFTP dimension in the relationship between HR practices and thriving older workers. For organizations, the lessons are to design HR practices to demonstrate that the organization cares about older workers being successful.

Motivational intermediaries of self-regulation among university students

2017 ◽  
Vol 9 (3) ◽  
pp. 448-464 ◽  
Author(s):  
Douglas Russell ◽  
Racquel Warner
Keyword(s):  
Higher Education ◽  
United Arab Emirates ◽  
Undergraduate Students ◽  
Self Efficacy ◽  
Online Survey ◽  
Time Perspective ◽  
Middle Eastern ◽  
Self Regulation ◽  
Future Time Perspective ◽  
Content Type

Purpose The concept of self-regulated learning (SRL) has become increasingly important in higher educational institutes seeking to provide students with a holistic education. It is important for students entering, and faculty within higher education, to understand whether future time perspective (FTP) or self-efficacy is more predictive of self-regulation. The paper aims to discuss these issues. Design/methodology/approach Through the use convenience sampling, data were collected via an online survey from 130 undergraduate students attending universities in the United Arab Emirates (UAE). Data were analysed using regression analysis and inferential measures identifying themes in participants study habits in order to examine whether it is FTP or self-efficacy that more strongly predicts SRL behaviours. Findings Results suggest that self-efficacy is a much stronger predictor of SRL in undergraduate students than goal setting, as measured by FTP. Student’s most deficient SRL behaviours related to reading and comprehension of texts prescribed across modules. Research limitations/implications Due to the fact that only an adjusted 33 per cent of self-regulation was predicted by the two variables under consideration, researchers are encouraged to identify further variables that may predict students SRL. Practical implications This paper seeks to support both students and faculty in how to draw on SRL in order to optimize students’ success in higher education. Originality/value The current research supports the identification of learning behaviours specific to branch campuses in a Middle-Eastern context.

scholarly journals It’s All about the Attitudes, not the Age: The Role of Future Time Perspective and Goal Orientation for Older Employees’ Employability

2018 ◽  
Author(s):  
Dominik Emanuel Froehlich
Keyword(s):  
Goal Orientation ◽  
Time Perspective ◽  
Emergency Services ◽  
Critical Issue ◽  
Future Time Perspective ◽  
Future Time ◽  
Positive Effects ◽  
Older Employees ◽  
Business Goals ◽  
The Difference

Adult learning is high on the international policy and research agenda. One major reason is the increasing share of older employees – especially in Western societies. However, older employees are often poorly integrated into the workplace and viewed as inflexible, as unwilling to learn, and as having obsolete knowledge, and therefore as not contributing to business goals. Stereotypes in the workplace often ignore the positive effects of age and amplify the severity of negative attributions and in turn might have adverse effects on older employees’ employability. In this study, we draw from socioemotional selectivity theory and goal orientation theory to investigate how older white-collar employees' attitudes relate to their employability. We hypothesize that attitudes about the future time and goal orientation affect employability while age does not.Data were gathered from 117 employees of a Dutch emergency services organization. While a direct relationship of chronological age on employability is often assumed (e.g. stereotypes that propose increasing inflexibility with age), our results show no such effects. Instead, attitudes about future time and goal orientation are what make the difference. This study addresses a critical issue and extends our knowledge of what role age and attitudes play for staying employable.

Saving Management in Malaysia

2021 ◽  
Vol 39 (10) ◽  
Author(s):  
Logasvathi Murugiah
Keyword(s):  
Regression Analysis ◽  
Multiple Regression Analysis ◽  
Financial Literacy ◽  
Peninsular Malaysia ◽  
Good Position ◽  
Working Adults ◽  
Complex Products ◽  
Financial Products ◽  
The Future ◽  
Saving Rates

Saving management is about empowering and enlightening consumers so that they are well prepared about finance in a way that is relevant to their lives. Koid (2008) denotes that challenges faced by Malaysian in disabling them to protect their finances are low level in mastering financial literacy, poor saving rates, complex products and services, access to a variety of financial products and costs of living. Savings can be lifesavers during an individual’s financial downturn. Today, financially we can be in a good position but nobody knows what will happen in the future. But one thing is for sure, our savings today would certainly save our financial pitfall in the future.  Therefore, it is vital for an individual to empower themselves a good saving habit. Therefore, this paper endeavors to analyze the key determinants of saving management in Peninsular Malaysia. Survey forms were distributed to 2500 working adults in Peninsular Malaysia, ages ranging from 18 to 45 years old. Meanwhile, the method employed in this study is multiple regression analysis. Further, this study highlight that parents’ characteristic, investment skill, financial literacy and expenses management are the important factors in enhancing and increasing the level of saving skills in Malaysia.

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