Douglas A. Hershey|Kène Henkens|H.P. van Dalen
Aging and Financial Planning for Retirement: Interdisciplinary Influences Viewed through a Cross-Cultural Lens
Netherlands Institute for Advanced Study in the Humanities and Social Sciences|Netherlands Interdisciplinary Demographic Institute|Netherlands Interdisciplinary Demographic Institute|Tilburg University
current theoretical models support existence interactions individual socioenvironmental forces comes formation enactment life plans friedman amp scholnick 1997 shanahan amp elder 2002 investigation examine social economic psychological forces impact financial planning retirement collective force three broad sets influences examined developmental crosscultural perspectives among respondents two countries different retirement financing systems participants 419 american 556 dutch working adults 2564 years age path analysis models created examine differences planning associated age national origin compared younger individuals older respondents countries involved nearly aspects financial planning process differences across cultures also observed social support mechanisms underlie planning impact economic forces perceptions saving adequacy discussion focuses value developing interdisciplinary theoretical models planning models inform development savingsoriented intervention public policy initiatives