Sheraton Uptown, Albuquerque, NM, USA
Sunday, April 23 • 8:00am - 9:30am
C2A-From Personality to Saving Behavior: Bridging the Gap (AARP's Public Policy Institute Financial Services and the Older Consumer Award 2017)

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This study utilized the 3M Model of Motivation and Personality and employed a structural equation model to investigate an innovative psychological approach to the saving behavior of older consumers. Using a sample of 1,370 pre-retired and partially retired American adults aged 50 to 70, results revealed that financial self-efficacy beliefs facilitated the connection between elemental traits (i.e., openness, conscientiousness, extroversion, agreeableness, and neuroticism), compound traits (i.e., positive affect, negative affect, mastery, and task orientation), and saving behavior. By adapting and integrating psychological theory into retirement saving strategies, older consumers and financial professionals can more fully understand the psychological origins of financial behavior; thereby providing opportunity to tailor retirement saving strategies to individual needs and circumstances.

Speakers & Presenters
avatar for Kristy Archuleta

Kristy Archuleta

Associate Professor, Kansas State University
The Personal Financial Planning unit at Kansas State University strives to be world known for its research, education, service, and outreach in financial planning offering emphases in financial counseling and financial therapy.

Sarah Asebedo, Ph.D., CFP®

Assistant Professor, Texas Tech University

Martin Seay

Assistant Professor, Kansas State University

Melissa Wilmarth

Assistant Professor, University of Alabama

Sunday April 23, 2017 8:00am - 9:30am

Attendees (4)