ScholarWorks@숙명여자대학교

초록

One of the most important factors that affects retirement preparation is the financial preparation. This study examines the relationship between cognitive age and financial preparation for retirement. We hypothesize the positive impact of cognitive age on financial preparation for retirement(H1), the mediating effect of financial risk tolerance (H2), the moderating effect of subjective financial knowledge(H3, H4). To test hypotheses, we conducted a survey with 591 individuals from 20s to 60s. Results showed that cognitive age positively affected financial preparation for retirement (H1;S). Financial risk tolerance didn’t play a mediating role in the relationship between cognitive age and financial preparation for retirement positively(H2;NS). For individuals with low subjective financial knowledge, cognitive age worked, but for individuals with high subjective financial knowledge, it didn’t(H3;S). Only for individuals with low subjective financial knowledge, financial risk tolerance mediated the relationship between cognitive age and financial preparation for retirement(H4;S). Finally, academic contribution and practical implication are described.

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