An Ounce of Financial Preparation

During the 1990s, the British population has been urged by government and financial institutions to make more personal preparation for retirement and to begin doing so while they are still relatively young. This paper, set within a wider analysis of people's long-term planning behaviour, investigates the extent to which a sample of the general population of Kirkcaldy in Scotland, mostly aged between 30 and 49, has given thought to the question of retirement, feels they have made financial preparation for it, and also how comfortable they expect retirement to be. While it seems likely that early planning for retirement is more common today than 20 years ago, there remain substantial sections of the population, including – but going well beyond – many in lower income groups, who appear not to be preparing, for varying combinations of reasons (including family responsibilities, personal history, cultural and general orientation to life). The study concludes that planning for retirement must be seen as part of planning as a whole, and that the propensity to plan is the outcome of a complex web of material, social, cultural and psychological factors. This suggests that even very high profile urging from politicians and financial institutions is unlikely to deliver adequate pensions for significant sections of the UK population.

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The Impact of Financial Preparation and Disaster Experience on Households’ Disaster Risk Perception: Empirical Evidence from Quang Binh Province, Vietnam

International Journal of Research and Review ◽

10.52403/ijrr.20210544 ◽

2021 ◽

Vol 8 (5) ◽

pp. 344-356

Author(s):

Tam T. Le ◽

Trang T.H. Thai ◽

Thao P. Do

Keyword(s):

Risk Perception ◽

Natural Disasters ◽

Natural Disaster ◽

Negative Impact ◽

Positive Impact ◽

Disaster Risk ◽

Disaster Experience ◽

Financial Preparation ◽

Natural Disaster Risk ◽

The Impact

This paper is aimed at analysing the impacts of financial preparation and disaster experience on households’ disaster risk perception, including perceptions of likelihood and severity in Quang Binh Province of Vietnam, one of the areas strongly affected by natural disasters and climate change. With the data from direct surveying 308 households in Quang Binh province, the research methodology includes Cronbach’s Alpha, EFA and OLS regression models. The key findings are: First, disaster experience has positive impact on natural disaster risk perception. Second, financial preparation has negative impact on natural disaster risk perception. Third, the risk of natural disasters in Quang Binh Province are increasing and unpredictable due to rapid economic growth and urbanization. This fact requires the Government, provincial commitees, and stakeholders to go beyond traditional coping methods, implement more customized policies and specific actions to try to reduce the risks of natural disasters. Keywords: disaster risk, disaster risk perception, financial preparation, disaster experience.

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Study on Financial Preparation for Aging and Life Satisfaction of Single Household : Comparing Single to Married Household

The Journal of the Korea Contents Association ◽

10.5392/jkca.2017.17.01.718 ◽

2017 ◽

Vol 17 (1) ◽

pp. 718-727 ◽

Cited By ~ 1

Author(s):

Myoung-Hee Seo ◽

Yeoung-Hee Kim ◽

Hyun-Ok Lee

Keyword(s):

Life Satisfaction ◽

Financial Preparation

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Can We Talk About Money? Financial Socialization Through Parent–Child Financial Discussion

Emerging Adulthood ◽

10.1177/2167696820902673 ◽

2020 ◽

Vol 8 (6) ◽

pp. 453-463 ◽

Cited By ~ 3

Author(s):

Ashley B. LeBaron ◽

Loren D. Marks ◽

Christina M. Rosa ◽

E. Jeffrey Hill

Keyword(s):

Qualitative Research ◽

Emerging Adults ◽

Research Study ◽

Financial Instability ◽

Financial Socialization ◽

Top Down ◽

Qualitative Research Study ◽

Financial Preparation ◽

Age Appropriate ◽

Qualitative Analyses

This multigenerational, qualitative research study explores family financial discussion processes that may lead to better financial preparation for emerging adults. Interviews were conducted with 90 emerging adults from three universities as well as 17 of their parents and 8 of their grandparents. Qualitative analyses revealed two major themes associated with family financial discussion processes. In parent-initiated discussions, principles were taught primarily through vertically structured (top-down) delivery. Three concepts reported across all three generations of respondents included (a) sharing financial experiences, (b) involving children in decisions, and (c) engaging in age-appropriate conversations. In child-initiated discussions, analyses revealed that financial principles were often taught in interactive, conversational, horizontal, and organic ways. Analyses identified two recurring concepts or contexts: (a) children asking financial questions and (b) child-initiated, age-appropriate conversations. These results highlight healthy processes for family financial discussion that may better prepare emerging adults for financial adulthood and reduce financial instability.

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