Improving Current and Future Financial Health Outcomes for Pre-Retirees

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?
  • 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,

    • 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
  • 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
  • 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