摘要：This paper analyzes private retirement savings, the amount for German individuals and how these savingsare influenced by personality traits. With the 2002 to 2009 cross section of the Socio-Economic Panelfor Germany (SOEP), it is investigated how the Big-Five and the Locus of Control influence the decisionto have private retirement savings, and the estimated amount of these savings. Results indicate a positiveeffect for Extraversion and a negative effect for Agreeableness on the probability to have such savings.Extraversion also positively effects the size of retirement related savings as does having an more internalLocus of Control. Similar to the probability to have retirement savings Agreeableness also reduces theexpected amount of such savings. Personality traits only seem to influence the retirement savings if theindividual has scores further away from the average of the specific trait. Additionally regressions areimplemented that include the personality measures as dummies to allow for non-linear effects. Furthermore,other types of wealth accumulation such as house related savings are investigated to study how theeffects might differ for different types of wealth accumulation
关键词：Non-cognitive skills; Big-Five; Locus of Control; retirement
