Exploring the Demand for Retirement Planning Advice: The Role of Financial Literacy

Seay, Martin C.; Kim, Kyoung Tae; Heckman, Stuart J.

K-REx Home
> >
Academic Colleges, Departments, and Programs
> >
College of Health and Human Sciences
> >
Family Studies and Human Services
> >
Family Studies and Human Services Faculty Research and Publications
> >
View Item

Exploring the Demand for Retirement Planning Advice: The Role of Financial Literacy

Seay, Martin C.; Kim, Kyoung Tae; Heckman, Stuart J.

This research extends previous literature on the relationship between financial literacy and financial advice seeking in three ways: (1) we examine financial planner use specifically within the context of retirement planning, (2) we incorporate Huston’s (2010) framework of financial literacy, and (3) we use longitudinal data to investigate the initiation, maintenance, and termination of financial planner use. Results from the 2010 and 2012 National Longitudinal Survey of Youth 1979 (NLSY79) show a positive association between the components of financial literacy and financial planner use for retirement planning.

Keywords: Retirement planning; Financial planner use; Financial advice

Journal: Financial Services Review, Volume: 25, Issue: 4, Starting Page: 331, Ending Page: 350

Date: 2016

Article (author version)

Record URL: http://hdl.handle.net/2097/36325

Rights: This Item is protected by copyright and/or related rights. You are free to use this Item in any way that is permitted by the copyright and related rights legislation that applies to your use. For other uses you need to obtain permission from the rights-holder(s).

Show full item record

Files in this item

View/Open

Filename: Exploring the Demand ...

Size: 769.1Kb

This item appears in the following Collection(s)

This Item is protected by copyright and/or related rights. You are free to use this Item in any way that is permitted by the copyright and related rights legislation that applies to your use. For other uses you need to obtain permission from the rights-holder(s).

Except where otherwise noted, the use of this item is bound by the following: This Item is protected by copyright and/or related rights. You are free to use this Item in any way that is permitted by the copyright and related rights legislation that applies to your use. For other uses you need to obtain permission from the rights-holder(s).