Abstract
Continuation ratio analysis of data from the 2004 Economic and Financial Aspects of Aging in Malaysia was conducted to assess
likelihood of Malay Muslims aged 55–75 moving up in a hierarchical model of savings motives. Results indicate that more than
half of older Malay Muslim has no savings. Many are barely surviving economically. Family size, educational level, health
perception, income quintiles and income adequacy were important predictors of advancing from a lower level to a higher level
in the savings motive hierarchy. Saving for Hajj was an important self-actualization savings motive.
likelihood of Malay Muslims aged 55–75 moving up in a hierarchical model of savings motives. Results indicate that more than
half of older Malay Muslim has no savings. Many are barely surviving economically. Family size, educational level, health
perception, income quintiles and income adequacy were important predictors of advancing from a lower level to a higher level
in the savings motive hierarchy. Saving for Hajj was an important self-actualization savings motive.
- Content Type Journal Article
- Category Original Paper
- Pages 1-15
- DOI 10.1007/s10834-012-9333-0
- Authors
- Sharifah A. Haron, Department of Resource Management and Consumer Studies, Faculty of Human Ecology, Universiti Putra Malaysia, 43400 Serdang, Selangor, Malaysia
- Deanna L. Sharpe, Personal Financial Planning, University of Missouri-Columbia, 239 Stanley Hall, Columbia, MO 65211, USA
- Mohamed Abdel-Ghany, Consumer Sciences Department, University of Alabama, Tuscaloosa, AL 35487-0158, USA
- Jariah Masud, Institute of Gerontology, Universiti Putra Malaysia, 43400 Serdang, Selangor, Malaysia
- Journal Journal of Family and Economic Issues
- Online ISSN 1573-3475
- Print ISSN 1058-0476