Relationship Between Risk Tolerance, Retirement Personality Type, and Women's Financial Planning Behavior: What Factors Motivate Women to Plan for Retirement?

As baby boomers and older Americans approach retirement, there is widespread concern over the adequacy of their financial preparation. Women are particularly at risk of having insufficient resources for retirement. The goal of this study is to identify effective promotional messages that will motivate baby boom age women to begin or accelerate planning for lifelong financial security. This study will also determine what psychological factors play important roles in women's planning behavior.

The results of this study will aid financial education and planning professionals in developing more effective programs to motivate women to plan and saving for retirement.