This article is reprinted with the publisher"s permission from the Journal of Retirement Planning, a bi-monthly journal on retirement planning strategies published by CCH INCORPORATED. Copying or distribution without the publisher"s permission is prohibited. To subscribe to the Journal of Retirement Planning or other CCH Journals please call 800-449-8114 or visit www.tax.cchgroup.com.
This article discusses recent research indicating a strong correlation between financial planning and financial security in retirement. Financial planners who help clients achieve a comfortable retirement likely have little doubt that planning is beneficial. They know this even if they"ve never seen a single academic study about the value of planning. This article reviews several recent papers published by the TIAA-CREF Institute that support their belief. In addition, results of new studies about gender differences in risk tolerance and the behavioral effects of financial seminars are discussed. Finally, certain policy implications for helping people prepare for retirement will be offered.
