Jackie is saving more while she is young so she will have plenty of money to pay the membership fees when she joins a golf club during her retirement.This is an example of the ________ motive for saving.

Question

Quizplus · Accepted Answer

The life-cycle motive for saving is based on the idea that individuals save money during their income-earning years in order to fund expenses during retirement or other periods of reduced income. Jackie's decision to save money specifically for the purpose of joining a golf club during retirement falls under this category. The other motives for saving (public, private, precautionary, and bequest) do not apply to her situation.

Jackie Is Saving More While She Is Young So She