White households are more likely to hold stock investments than minority households. Stock ownership rates of minorities generally increased between 1992 and 2001, but between 2001 and 2004 the rate decreased significantly for each minority group studied but did not significantly change for...

Twenty-nine scholars from public and private universities, non-profit organizations, and the federal government participated in a National Research Symposium on Financial Literacy and Education in October 2008 in Washington, DC. The purpose was to identify critical research questions that could...

Now in its third decade, the Journal of Financial Counseling and Planning evolved to serve the needs of an international research community. The content analysis presented here focuses on the patterns in the second decade of publication (2000-2009), highlighting research and publication trends,...

The racial/ethnic disparities of risky asset ownership were investigated. In the 2004 and 2007 Survey of Con- sumer Finances datasets, 30% of Hispanic, 36% of Black, and 65% of White households had high return invest- ments such as stocks, investment real estate, or private business assets....

To estimate the monetary value of ideal financial planning advice, we address three types of benefits that planners provide: increasing wealth, preventing loss, and smoothing consumption. We discuss, then reject the possibility of using survey data to obtain valid estimates of the benefit of...

In an analysis of a combination of the 1998 to 2007 Survey of Consumer Finances datasets, the use of the Internet for savings and investment decisions grew much more rapidly than the use of financial planners for those decisions. A multivariate analysis of the use of financial planners showed...

Why do we save? Do saving decisions reflect personal needs to achieve goals in one's life? This study examined the influence of six saving goals constructed both from Life-cycle hypothesis, and Maslow's hierarchical theory of human needs. Even though traditional goals, such as retirement savings...

The Survey of Consumer Finances (SCF) has included a 4-level risk tolerance measure since 1983. In 2016, the SCF also included an 11-level risk tolerance measure. We compare the two measures, and develop suggestions for using the new measure. While the new measure is seemingly simpler than the...

This article describes the current status and trends in the past three decades (1990-2019) of the Journal of Financial Counseling and Planning (JFCP). Since its first issue published in 1990, JFCP has become a major research outlet in consumer finance. It publishes cutting-edge, peer reviewed,...