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Abstract
This Australian exploratory study investigates the financial considerations retirees experienced before moving into a retirement village. A qualitative content analysis was undertaken on the responses of 52 retirement village residents, who were part of a much larger study on retirees’ accommodation choices in 2007. The respondents were grouped according to income, and the results were compared across the following groups (self-funded retirees, part-pension retirees, and full-pension retirees). Differences between the groups extended beyond affordability. Both pension groups were more anxious about the increasing costs of maintenance fees than self-funded retirees, and the importance of pensions and superannuation was also discussed.
Notes
1. Changes in consumer protection laws, specific to each state and territory, may also mandate changes in the structure or calculation of DMF payments.
2. In practice, this requires a separate interview room for each dyad (interviewer and interviewee) in close proximity to one another to facilitate immediate post-interview analysis and interpretation by the two interviewers. It also requires a schedule of interviewees running on parallel tracks to capitalize on the iterative nature of convergent interviewing (i.e., first pair of interviews, followed by analysis, interpretation, and refinement of interview questions, followed by the second pair of interviews, and so on).
3. The qualitative analytical process known as clustering is not to be confused with the quantitative analytical process known as cluster analysis.
4. The Superannuation Guarantee was introduced by the Keating Labor Government in 1992. Employers are required legally to pay a percentage (presently 9%) of an employee's wages into a superannuation fund.
5. However, personal interviews may bear more fruitful insights given the personal and potentially reactive nature of questions related to one's finances and net worth.