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Intrinsic Rewards of Work, Future Time Perspective, the Economy in the Future and Retirement Planning
Author(s) -
YANG TINGYING,
DEVANEY SHARON A.
Publication year - 2011
Publication title -
journal of consumer affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.582
H-Index - 62
eISSN - 1745-6606
pISSN - 0022-0078
DOI - 10.1111/j.1745-6606.2011.01211.x
Subject(s) - perspective (graphical) , work (physics) , structural equation modeling , set (abstract data type) , confirmatory factor analysis , plan (archaeology) , mechanism (biology) , psychology , economics , business , actuarial science , computer science , mechanical engineering , archaeology , machine learning , artificial intelligence , engineering , history , programming language , philosophy , epistemology
This study incorporated intrinsic rewards of work, future time perspective and perspective on the economy in the future to create a model for the psychological mechanism of planning for retirement. The data set included those who were not retired (N = 2,266) in the 1992 Health and Retirement Study. Confirmatory factor analyses and structural equation modeling were used. The analyses were conducted separately on the different types of retirement plans. The results suggest that human resource professionals should (1) encourage employees who perceive high intrinsic rewards of work to plan for their retirement, and (2) remind employees that retirement might be closer than they anticipate.