Previous research has studied the characteristics associated with the presence and amount of charitable giving. However, few of these studies have explored the relationship between financial planning horizon and philanthropic donations, especially large donations. Using cross-sectional and...

Recent studies have demonstrated that individuals' financial planning horizons significantly impact their economic decisions, such as saving propensities, credit card usage behaviors, investment choices, retirement decisions, as well as estate planning engagements. Motivated by the profound...

Professionally managed portfolios and ongoing advice can potentially help defined contribution (DC) participants achieve better retirement outcomes through personalized investing and saving guidance. This paper explores the relationship between trading activity and advice seeking among five...

Investment strategies focused on Environmental, Social, and Governance (ESG) issues have been receiving increased interest among defined contribution (DC) plan sponsors, consultants, and regulators. This research explores the allocation decisions of 9,324 newly enrolled DC participants who are...

This study evaluates the interaction between employer match and default rates on savings outcomes among new employees. Selecting a higher default rate has the largest impact on employee savings rates. Plans with low default rates that match a high percentage of employee earnings induce...

Using two data sets (Prudential Financial Wellness Survey, and Health and Retirement Study), this study demonstrates that although there is generally a natural upward trend for older (age 50+) Americans to progressively delay their expected retirement, this trend has no statistically significant...

This paper presents findings from neuroscience, neuro-finance, neuro-economics, behavioral finance, and behavioral economics in the context of a two-system model of human decision-making, labeled as the “rider” and the “elephant”. The rational “rider” system is characterized by...

How do renters approaching retirement respond to their absence of housing equity? Traditional life cycle accumulation theory suggests compensation by increased investment in other asset classes. Behavioral “mental accounting” suggests that there may be no affect on investment in other asset...

This paper compares pre-death charitable testamentary expectations with post-death distributions for deceased panel members in the 1995-2006 Health and Retirement Study. Most respondents who reported having a charitable estate plan in the survey wave immediately prior to their death ultimately...

Changing financial advisors during an advisor-intermediated stock-market game was more likely during periods of relative underperformance. Immediately prior to changing advisors, brain activation was greater in areas associated with error detection (dorsal anterior cingulate cortex) and number...