Based on 1998 to 2007 Survey of Consumer Finances datasets the proportion of households reporting use of a financial planner increased from 21% in 1998 to 25% in 2007, with an estimated increase of almost five million households between 2004 and 2007. Multivariate analysis shows that the...

This study explored saving behavior among low-income households through the institutional theory of saving behavior by (1) determining asset differences between saving and non-saving households, (2) exploring factors related to saving behavior, and (3) identifying differences between two saving...

Normative analyses of household financial decisions typically assume parameters of the household utility function. Some general issues on parameter assumptions for normative analysis are discussed in this study. We review selected normative household analyses appearing in finance and economics...

Many researchers have examined the influence of the Survey of Consumer Finances (SCF) planning horizon variable on household financial behavior such as saving, assuming that it reflected the pure time preference of respondents. However, it is also possible that the variable reflects respondent...

We investigate financial vulnerability of households with small business owner managers, using 1992 to 2007 Survey of Consumer Finances datasets. Based on regression analyses of two ratios, business assets to total household assets and business income to total household income, we find that...

Life cycle theory is applied to determine which households are more likely to have negative net worth. Negative net worth household characteristics are examined using data from the 1992, 1995, 1998, 2001, 2004, and 2007 Survey of Consumer Finances. Logit Analysis showed households in survey...

The relationship between meeting the Capital Accumulation Ratio Guideline and retirement adequacy was investigated. About 63% of the households had a consistent relationship between meeting the 25% ratio guideline and being adequately prepared for retirement, with 46% of households both meeting...

This study investigates financial risk aversion using an improved measure based on income gambles and rigorously related to optimal portfolio choices. The new measure modifies a previous measure by adding graphical presentations to clarify the impact of different income choices. We compared the...

Data from the 1992-2004 Survey of Consumer Finances were used to examine the risk tolerance and stock ownership of three types of households: those that do not own a business, those that own and manage a business, and those that own but do not manage a business. Non-manager business owners were...