A longitudinal analysis of single, female labor force participants' net worth : balance sheet in the pre-retirement years

Graduation date: 1988Being old and female in America often means being alone and poor. To offset this outcome financial preparation for retirement should begin in the pre-retirement years. The purpose of this exploratory study was to assess the financial preparedness of mature, single women as they approach retirement by examining the relationships of economic, demographic and attitudinal variables to net worth. Data were drawn from the National Longitudinal Surveys: Survey of Work Experience of Mature Women for a sample of white and black women who were single during the 15 year period and who were in the labor force in 1967. Analysis of Variance, t̲-tests, simple linear and segmented, step-wise multiple regression analyses were used to analyze the data. Race was a significant factor throughout the study. For regression analyses, previous income, education, attitude toward women working if it is necessary to make ends meet, and the respondent's job category were all significant variables. The findings indicate that this mature female sample does not accumulate assets at a rate that would suggest economic self-sufficiency in retirement. Recommendations include educational programs that address women's attitudes toward working and saving