Using data from 584 individuals identifying themselves as married, the purpose of this study was to examine how personal and relational characteristics were linked to financial attitudes, knowledge, and capabilities and financial well-being using the family financial socialization framework (Gudmunson & Danes, 2011). Supporting the first two hypotheses, marital quality, materialism, age, and household income were found to directly predict financial prudence as a measure of financial attitudes, knowledge, and capabilities and to indirectly predict retirement savings rate as a measure of financial well-being. Financial prudence supported the first hypotheses as well by directly predicting retirement savings rate. Education also supported the first hypothesis, in that it directly predicted an individual's measure of financial prudence. In support of the third hypothesis, education was associated with retirement savings rate. Results suggest the importance of considering both financial and non-financial predictors of saving for retirement.
College and Department
Family, Home, and Social Sciences; Family Life; Marriage, Family, and Human Development
BYU ScholarsArchive Citation
Payne, Scott H., "More Than Money: Understanding Marital Influences on Retirement Savings Rates" (2014). Theses and Dissertations. 3906.
retirement, retirement saving, marital quality, materialism, financial prudence