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Australian baby boomers talk about the global financial crisis

Humpel, Nancy; O'Loughlin, Kate; Snoke, Martin; Kendig, Hal

Description

Aim: The aim of this qualitative study was to explore baby boomers' views and plans in the early days of the global financial crisis (GFC) in 2008. Methods: Informants from National Seniors Australia were interviewed in 15 focus groups conducted nationally. Transcripts were analysed by themes from semi-structured questions. Results: The GFC was found to shake the confidence and plans of boomers. Many workers decided to delay retirement and save longer following losses in superannuation. Those...[Show more]

dc.contributor.authorHumpel, Nancy
dc.contributor.authorO'Loughlin, Kate
dc.contributor.authorSnoke, Martin
dc.contributor.authorKendig, Hal
dc.date.accessioned2015-12-07T22:21:23Z
dc.identifier.issn1440-6381
dc.identifier.urihttp://hdl.handle.net/1885/20018
dc.description.abstractAim: The aim of this qualitative study was to explore baby boomers' views and plans in the early days of the global financial crisis (GFC) in 2008. Methods: Informants from National Seniors Australia were interviewed in 15 focus groups conducted nationally. Transcripts were analysed by themes from semi-structured questions. Results: The GFC was found to shake the confidence and plans of boomers. Many workers decided to delay retirement and save longer following losses in superannuation. Those retired on market-linked superannuation felt forced to reduce expenses and restrain lifestyles. Those on full pensions were relatively unaffected. Conclusion: The GFC called into question boomers' expectations for retirement. While financial markets are showing signs of recovery, the GFC had precipitated a decision to work longer and to draw conservatively on retirement savings that may take many years to recover. The volatility of financial and employment markets underscores the value of the Age pension.
dc.publisherBlackwell Publishing Ltd
dc.sourceAustralasian Journal on Ageing
dc.subjectKeywords: article; Australia; budget; cost control; economics; employment; female; financial management; human; interview; lifestyle; male; middle aged; pension; population growth; qualitative research; retirement; time; Australia; Budgets; Cost Savings; Employment Baby boomer; Global financial crisis; Retirement income; Retirement plan
dc.titleAustralian baby boomers talk about the global financial crisis
dc.typeJournal article
local.description.notesImported from ARIES
local.identifier.citationvolume29
dc.date.issued2010
local.identifier.absfor111799 - Public Health and Health Services not elsewhere classified
local.identifier.ariespublicationu5637259xPUB10
local.type.statusPublished Version
local.contributor.affiliationHumpel, Nancy, University of Sydney
local.contributor.affiliationO'Loughlin, Kate, University of Sydney
local.contributor.affiliationSnoke, Martin, University of Sydney
local.contributor.affiliationKendig, Hal, College of Medicine, Biology and Environment, ANU
local.description.embargo2037-12-31
local.bibliographicCitation.issue3
local.bibliographicCitation.startpage130
local.bibliographicCitation.lastpage133
local.identifier.doi10.1111/j.1741-6612.2010.00474.x
local.identifier.absseo940103 - Ageing and Older People
dc.date.updated2016-02-24T11:36:58Z
local.identifier.scopusID2-s2.0-77956859087
CollectionsANU Research Publications

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