Racial/Ethnic Differences and Retirement Involvement: A Latent Profile Analysis

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This study examined attitudes about the relevance of retirement planning and affect associated with it (retirement involvement) of adults (18–65-years-old), taking racial/ethnic status into consideration. Drawing on online survey data, between-group significance testing revealed that racial/ethnic minority (REM; n = 355) and White (n = 543) participants did not differ in mean levels of retirement involvement, but the REM sample perceived retirement involvement as less relevant to their respective racial/ethnic groups. Similar four-profile solutions consisting of Low, Moderate, High, and Mixed-Reactive Retirement Involvement latent subgroups emerged for both samples in Latent Profile Analyses. Findings revealed distinct racial/ethnic variations in demographic and financial capacity predictors of profile subgroup classification. Results signaled a need for more culturally focused financial counseling and planning research and interventions.

Original languageEnglish (US)
Pages (from-to)421-432
Number of pages12
JournalJournal of Financial Counseling and Planning
Issue number3
StatePublished - Nov 1 2022
Externally publishedYes


  • adulthood
  • latent profiles
  • race/ethnicity
  • retirement involvement
  • retirement planning

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics


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