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Decision Making Clusters in Retirement Savings: Preliminary Findings

Australian Journal of Labour Economics
Volume 10 Issue 2 (June 2007)

Abstract: The aim of the present study was to explore whether identifiable member clusters exist in retirement savings decisions by considering the investment choice history of the members of four large Australian retirement savings funds. We used a two-step cluster analysis to examine whether well-defined subgroups exist as identified by their investment choices and member demographics. Funds were tested individually and collectively using a range of variables. Distinct groups were found, varying along gender and age lines. There were also clear distinctions between the groups in terms of the risk of the investments they chose. Future work is discussed, including the refinement of variables selected.

To cite this article: Speelman, Craig P; Clark-Murphy, Marilyn and Gerrans, Paul. Decision Making Clusters in Retirement Savings: Preliminary Findings [online]. Australian Journal of Labour Economics, Vol. 10, No. 2, June 2007: 115-127. Availability: <http://search.informit.com.au/documentSummary;dn=052948625338835;res=IELBUS> ISSN: 1328-1143. [cited 07 Dec 16].

Personal Author: Speelman, Craig P; Clark-Murphy, Marilyn; Gerrans, Paul; Source: Australian Journal of Labour Economics, Vol. 10, No. 2, June 2007: 115-127 Document Type: Journal Article ISSN: 1328-1143 Subject: Saving and investment; Finance, Personal; Retirement income--Government policy; Peer Reviewed: Yes Affiliation: (1) Edith Cowan University
(2) School of Accounting, Finance and Economics, Edith Cowan University, Joondalup WA 6027, email: m.clarkmurphy@ecu.edu.au, tel: 61 8 6304 5565
(3) Edith Cowan University

Database: Business Collection