Saving and Dissaving Behaviour in an Aged Society

This study examines saving and dissaving behaviors across different age groups and generational cohorts in Thailand, using nearly three decades of repeated cross-sectional data from the Thai Household Socio-Economic Survey (HSES). The findings reveal a clear hump-shaped life-cycle pattern in saving behavior, with savings peaking between the ages of 56 and 65, slightly beyond traditional working life. Importantly, wealth accumulation remains positive even into later life stages, suggesting the influence of precautionary motives, cultural bequest norms, and limited annuitization options. Generational comparisons show that Baby Boomers and Generation X consistently save more than Generation Y, reflecting differences in economic experiences and structural opportunities across cohorts. The study underscores the impact of economic experiences and life stages on saving behavior. These findings highlight the critical interplay of temporal, demographic, and cohort effects, offering valuable insights for policymakers seeking to promote financial resilience and security in an aging society.