Thursday, March 30, 2017

Dataset for Savings Planning Time

A student here is looking for a dataset which, ideally, would look at savings planning time horizons for immigrants and non-immigrants (to whichever country/ies the study might happen to pertain).

Failing that, she could use a dataset which contains savings information and perceptions of time (e.g., long-term planner, short-term planner, in the moment, etc.): we have found a potentially promising dataset at ICPSR (Center for Research on Social Reality [Spain] Survey, March 1996: Savings, Family, and Aging (ICPSR 6973)). Similar datasets would be wonderful.

In the absence of anything else, even datasets that focused on or explored people’s planning horizons generally would be welcomed.

I’m not sure if StatCan has anything appropriate: I’ve suggested that she look at the various assets/debts files to see if they might be used as proxy for attitudes.

Anyone else with suggestions (for Canada or other countries)?

I did come across the following statcan survey:

The Canadian Financial Capability Survey (CFCS) will shed light on Canadians' knowledge, abilities and behaviour concerning financial decision-making. In other words, how Canadians understand their financial situation, the financial services available to them and their plans for the future. The survey is designed to collect information surrounding respondents' approaches to day-to-day money management and budgeting, longer term money management and general financial planning.

The data even seems to have immigration status:

From a Daily entry:

Recent immigrants (those who arrived in Canada during the period 10 years prior to the survey) were less likely to be preparing for retirement (65%) compared with established immigrants (75%) and the Canadian-born (79%). They were also less likely to know how much to save. Other groups that were more likely to be preparing for retirement included couples with dependent children (82%) and couples without dependent children (81%) compared with unattached individuals (74%), lone parents (69%) and individuals belonging to “other” family types (57%); paid employees (81%) compared with the self-employed (72%) and the unemployed (63%); and homeowners without a mortgage (86%) compared with owners with a mortgage (81%) and renters (67%). Residents of the Prairies were also more likely than other Canadians to be preparing for retirement.

PUMF in nesstar:
Canadian Financial Capability Survey - PUMF
Information for analysts and researchers
81-004-X201100111432 Competing Priorities - Education and Retirement Saving Behaviours of Canadian Families
11-008-X201100111430 Debt and family type in Canada
75-006-X201600114360 Financial literacy and retirement planning
75-006-X201600114464 Gender differences in the financial knowledge of Canadians
75-001-X201200211636 Household debt in Canada
11-624-M2010026 Retirement-Related Highlights from the 2009 Canadian Financial Capability Survey
75-001-X201100211428 Retiring with debt
11-008-X201100111413 The financial knowledge of Canadians
75-001-X201100411535 The financial well-being of the self-employed
75-001-X201100311529 The wealth and finances of employed low-income families