Financial Planning for Retirement Village Living: A Qualitative Exploration

This Australian exploratory study investigates the financial considerations retirees experienced before moving into a retirement village. A qualitative content analysis was undertaken on the responses of 52 retirement village residents, who were part of a much larger study on retirees’ accommodation choices in 2007. The respondents were grouped according to income, and the results were compared across the following groups (self-funded retirees, part-pension retirees, and full-pension retirees). Differences between the groups extended beyond affordability. Both pension groups were more anxious about the increasing costs of maintenance fees than self-funded retirees, and the importance of pensions and superannuation was also discussed.     

Determinants of Retirement Timing Expectations in the United States and Australia: A Cross-National Comparison of the Effects of Health and Retirement Benefit Policies on Retirement Timing Decisions

Data from the U.S. Health and Retirement Study (N = 2,589) and the Australian Household Income and Labour Dynamics survey (N = 1,760) were used to compare the macro-level policy frameworks on individual retirement timing expectations for pre–baby boomers (61+ years) and early baby boomers (45 to 60 years). Australian workers reported younger expected age of retirement compared to the U.S. sample. Reporting poor health was more strongly associated with younger expected retirement age in the United States than in Australia. Cohort and gender differences in the United States were found for the effect of private health insurance on younger expected age at retirement. Our results draw attention to how cross-national comparisons can inform us on the effects of policies on retirement expectations among older workers.     

Australian Baby Boomers Face Retirement During the Global Financial Crisis

This paper examines the impact in Australia of the global financial crisis on the baby boom cohort approaching later life. Data from national focus groups of people aged 50 to 64 years (N?=?73), conducted in late 2008, found widespread but variable concern and uncertainty concerning work and retirement plans and experiences. A national survey (N?=?1,009) of those aged 50 to 64 years in mid-2009 reported lower levels of financial satisfaction compared with other life domains; many planned to postpone retirement. Findings are interpreted in the context of policies and markets that differed significantly from those in the United States, notwithstanding the global nature of the financial crisis.     

Unraveling Work Reactions in a Sales Occupation: A Test of Three Models

The American economy has moved into a post-industrial society, where the main focus is now on the provision of services and the creation of knowledge rather than the manufacturing of material goods. In this context, the current project examines the job experiences of sales workers in this new economy. Based on a survey of a large Midwest sales firm, we examine the influence of various individual and work-related characteristics on four negative reactions: work dissatisfaction, lack of organizational commitment, work stress, and life stress. The study also assesses the impact on these outcomes from three theoretical perspectives: the Importation Model, the Work Role-Occupational Socialization Model, and the Work-Family Spillover Model. Using OLS regression, the analyses revealed three major conclusions. First, individual characteristics, including being a woman, had little impact on work reactions, lending little support for the Importation Model. Second, work-role experiences, particularly supervisory support and role overload, shaped job-related reactions consistent with the Work Role-Occupational Socialization Model. And third, when the intersection of work and family was examined, spillover effects were mainly confined to feelings of work and life stress, giving partial support for the Work-Family Spillover Model. This indicates that although they generally do not reduce employees' commitment to or satisfaction with their careers, family-related factors do impact levels of stress that workers endure.     

My Loss Is Your Loss … Sometimes: Loss Aversion and the Effect of Motivational Biases

Findings from previous studies of individual decision-making behavior predict that losses will loom larger than gains. It is less clear, however, if this loss aversion applies to the way in which individuals attribute value to the gains and losses of others, or if it is robust across a broad spectrum of policy and management decision contexts. Consistent with previous work, the results from a series of experiments reported here revealed that subjects exhibited loss aversion when evaluating their own financial gains and losses. The presence of loss aversion was also confirmed for the way in which individuals attribute value to the financial gains and losses of others. However, similar evaluations within social and environmental contexts did not exhibit loss aversion. In addition, research subjects expected that individuals who were unknown to them would significantly undervalue the subjects' own losses across all contexts. The implications of these findings for risk-based policy and management are many. Specifically, they warrant caution when relying upon loss aversion to explain or predict the reaction of affected individuals to risk-based decisions that involve moral or protected values. The findings also suggest that motivational biases may lead decisionmakers to assume that their attitudes and beliefs are common among those affected by a decision, while those affected may expect unfamiliar others to be unable to identify and act in accordance with shared values.     

The Hopes and Fears of Older Australians: for Self,Family, and Society

This study refutes negative ageist stereotypes of how older people view themselves and society by reporting on their freely expressed main hope and main fear for the future. Data were collected through a population based cross‐sectional telephone interview survey conducted in NSW in 1999/2000. Participants (n=8,881) were randomly selected community dwelling older Australians (65+). Analyses revealed that participants were more likely to express a hope than a fear, and that a sizeable proportion of their hopes and fears were focused outwardly to family, or more broadly to social and environmental issues both locally and globally. These latter hopes and fears indicate awareness, interest and concern on a wide range of issues outside self and family. Some differences by gender and age were identified but views varied considerably among individuals. These findings provide evidence to dispel the negative image of older people as a self interested undifferentiated group whose members become progressively fearful as they age, by revealing an altruistic and outwardly focused dimension.     

So Many Civilizations,So Few Pages: A Review Essay*

Books reviewed in this article: Christian Joppke Selecting by Origin: Ethnic Migration in the Liberal State Douglas S. Massey and J. Edward Taylor (EDS.) International Migration: Prospects and Policies in a Global Market United Nations Research Institute For Social Development Gender Equality: Striving for Justice in an Unequal World International Organization For Migration Arab Migration in a Globalized World