Using a grant from the Institute of Consumer Money Management, the Financial Health Network has proposed designing a research engagement that will allow us to answer the following
research questions:
- With which aspects of their financial lives do pre-retirees struggle the most?
- Do low-and-moderate-income (LMI) pre-retirees struggle in similar or different
ways from non-LMI pre-retirees? - Can we identify key segments/clusters of pre-retirees by financial health status
and/or financial behavior?
- Do low-and-moderate-income (LMI) pre-retirees struggle in similar or different
- How, and how well, are pre-retirees making decisions about their retirement? (e.g. when
to retire, when to draw Social Security, whether to purchase long-term care insurance,
etc.)- Where are they getting information or advice to inform these decisions?
- How do they feel about their current sources of advice, and would they prefer
something else? What do LMI pre-retirees say they want or need in terms of
advice?
- What can we learn about the way that pre-retirees’ day-to-day financial health challenges
impact their ability to make decisions and/or take action that results in future positive
financial health outcomes?
Project Timeline
- Phase 1: Quantitative Research
- Project kick-off and scoping: Late May 2018
- Draft and iterate on survey instrument: May – June
Field survey to UAS panelists
June – July - Analyze data / segmentation analysis
August
- Phase 2: Qualitative Research
- Draft focus group discussion guide: August – September
- Recruit focus group participants: September
- Conduct focus groups: September
- Analyze focus groups: October
- Phase 3: Public Report
- Draft final deliverables: October – December
- Finalize final deliverables: January 2019
- Promote and disseminate deliverables: February