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Tuesday, October 2 • 4:30pm - 6:00pm
P108 - The Impact of Mortality Salience on Asset Decumulation Decision

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Recent research has identified that mortality salience has significant impacts on annuity purchase decisions, including the decision to avoid purchasing annuities and the decision to purchase annuities with a bequest provision.  This study investigates whether mortality salience will also influence the broader issue of an individual’s asset decumulation decision in retirement.  Theoretical models from psychology and economics suggest that it will. Using a randomly assigned experimental test, we find that increasing mortality salience increases the desire to retain assets in retirement, reducing the preferred spending rates in retirement.  Understanding the role of mortality salience on decisions about asset decumulation in retirement can be beneficial to academic researchers and financial planners.

Author(s): Yi Liu, Russell N. James, III

avatar for Yi (Bessie) Liu

Yi (Bessie) Liu

Ph.D. Candidate, Texas Tech University
Yi (Bessie) Liu is a Ph.D. student in the Department of Personal Financial Planning at Texas Tech University. She aims to serve diversified groups especially for first and second generation immigrants as well as Asian-Americans to assist them in achieving a better financial futur... Read More →

Tuesday October 2, 2018 4:30pm - 6:00pm CDT
Michigan 2