| Summary: | 碩士 === 實踐大學 === 企業管理研究所 === 95 === Abstract
This study divides individual financial management into three phases. First phase is regular saving (before the age of 40), second phase is wealth growing (from 40 to 50years old), third phase is wealth consolidating (after the age of 51). Risk preference of individual investors are categorical into three types, There are conservative (risk averse), stable (risk neutral) and aggressive (risk seeking). The purpose of this study is to investigate what combination of investment strategies (based on risk preference) in each of the financial phase obtains best result.
According to the data collected from 303 samples, including those are retired during the past five years and those will be retired in next five years. The empirical evidence shows that people adopted regressive strategy in savings phase, stable strategy in growing phase and conservative strategy in consolidating phase are most satisfied with their retirement reserve.
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