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Decision Making Clusters in Retirement Savings: Gender Differences Dominate

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  • Craig Speelman
  • Marilyn Clark-Murphy
  • Paul Gerrans

Abstract

This study explored the impact of demographic factors on individuals’ investment choice decisions in retirement savings funds. Analysis found identifiable member clusters across a large and diverse sample of almost 150,000 transactions. Results suggested that gender and risk are the most dominant factors with women showing a strong tendency to make lower risk investment choices. If this behavioural tendency is not addressed through education it will accentuate the hurdles women already face in accumulating adequate saving for retirement. Copyright Springer Science+Business Media, LLC 2013

Suggested Citation

  • Craig Speelman & Marilyn Clark-Murphy & Paul Gerrans, 2013. "Decision Making Clusters in Retirement Savings: Gender Differences Dominate," Journal of Family and Economic Issues, Springer, vol. 34(3), pages 329-339, September.
    • Handle: RePEc:kap:jfamec:v:34:y:2013:i:3:p:329-339
    DOI: 10.1007/s10834-012-9334-z
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    4. Filipe Sardo & Elisabete S. Vieira & Zélia Serrasqueiro, 2022. "The role of gender and succession on the debt adjustments of family firm capital structure," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 12(2), pages 349-372, June.
    5. Marc Cowling & Susan Marlow & Weixi Liu, 0. "Gender and bank lending after the global financial crisis: are women entrepreneurs safer bets?," Small Business Economics, Springer, vol. 0, pages 1-28.
    6. Marc Cowling & Susan Marlow & Weixi Liu, 2020. "Gender and bank lending after the global financial crisis: are women entrepreneurs safer bets?," Small Business Economics, Springer, vol. 55(4), pages 853-880, December.
    7. Sonsino, Doron & Shifrin, Max & Lahav, Eyal, 2016. "Disentangling trust from risk-taking: Triadic approach," MPRA Paper 80095, University Library of Munich, Germany.
    8. Andy Sharma, 2015. "Divorce/Separation in Later-Life: A Fixed Effects Analysis of Economic Well-Being by Gender," Journal of Family and Economic Issues, Springer, vol. 36(2), pages 299-306, June.
    9. Antonia Settle, 2021. "'Don't play if you can't win': exploring household disengagement with the pension system through financial diaries data," Melbourne Institute Working Paper Series wp2021n29, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.

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