© 2019 DOUGLAS HERSHEY, PHD | All Rights Reserved

Contact

RPRL

Scale name: Retirement Savings Contributions 

Description: This 2-item measure is designed to be a general indicator of retirement savings involvement. It includes both an objective question (percentage of income saved), and a subjective item that taps voluntary retirement savings contributions. Both items focus on savings that have occurred over the preceding twelve months.

Source: Stawski, R. S., Hershey, D. A., & Jacobs-Lawson, J. M. (2007). Goal clarity and financial planning activities as determinants of retirement savings contributions. International Journal of Aging and Human Development, 64, 13-32. doi: 10.2190/13GK-5H72-H324-16P2

Cronbach's alpha: 0.89

Response format: Likert-type response format for question #1 (1 = strongly disagree; 7 = strongly agree), and multiple choice format for question #2. 

Question #1:

Using the 7-point scale below, please indicate the extent to which you agree or disagree with the following statement: 

“I made voluntary contributions to a retirement savings plan during the past 12 months."

__ Strongly disagree 

__ Disagree

__ Somewhat disagree 

__ Neutral 

__ Somewhat agree

__ Agree

__ Strongly agree

Question #2:

Please indicate the net (i.e., after tax) household income you contributed to a retirement savings plan or account during the preceding 12 months. 

__ No contributions 

__ 1-4%

__ 5-9%

__ 10-14% 

__ 15% or more

Scoring Instructions: To arrive at a total retirement savings score, each of the above items are first converted into z-score units, and then the two z-score units are averaged together.