Preretirement Preparation Behaviors and Factors Related to Retirement Planning by Dental Hygienists

Abstract

Purpose Little is known about the retirement planning behaviors of dental hygienists. The purpose of this study was to explore the psychological antecedents and other factors related to preretirement planning behaviors of dental hygienists.

Methods An online, cross-sectional survey research study was conducted with a convenience sample of practicing dental hygienists (n=253) recruited via social media and professional networks. Data collection included work characteristics, retirement planning activities, and the validated Future Time Perspective (FTP), and Retirement Planning Goals Clarity (RPGC) instruments, along with two open-ended questions. Data analysis included descriptive measures, correlations, and regression modeling.

Results The completion rate for the survey was 78.7% (n=199). The average anticipated age at retirement was 63.7 years old (SD=5.56). In the sample, fewer than half (45%) reported having an employer-sponsored benefit plan, 34% had a defined employee contribution plan, and 75% had contributed to retirement investments/savings in the past year. On a scale of 1-7, the mean FTP was 5.12 (SD 1.16) and mean RPGC was 5.01 (SD 1.51). In regression models, FTP (β=.54, p<.001) was a predictor of RPGC, however there were no other significant variables. The model was significant (F (6, 134)=12.9, p<.001) and explained 33.4% of the variance in retirement planning.

Conclusion Higher FTP scores were positively associated with higher RPGC scores, however there were no other significant variables associated with preretirement planning. Addressing barriers to retirement planning while developing clear goals for financial stability is critical, particularly as the dental hygiene workforce ages.