Happiness and well-being are among the two most important goals for individuals approaching retirement and often form the basis of total income requirement during retirement. These goals are almost met when the household expenses are paid for, individual health is taken care of, and there is...

Conventional advice is to reduce risky investments as one ages. Such a generalized focus on risk avoidance may be inappropriate for elderly with longer life spans and those with financial goals that extend beyond their lifetime. To better understand risky asset holdings among the elderly, we...

This study intends to investigate the extent and dynamics of financial advisory services, and their relationship to changes in the different financial assets held by households' in the United States, before and after the Great Recession, using the 2007-2009 panel of Survey of Consumer Finances...

This study examines retirement plan participation and savings behavior for American public and private sector employees using the Panel Study of Income Dynamics (PSID) data set. This paper also examines the determinants of preference for a diversified portfolio within the retirement plans. The...

This study used the 2012 and 2014 panels of the Health and Retirement Study, a nationally representative dataset, to examine the associations between personality traits, generational cohorts, and bequest expectations among elderly households in the United States. The results indicated that...

This study examines the retirement plan participation and savings for United States government employees using the Panel Study of Income Dynamics data set. The findings of this study indicate that plan participation increases with age, income and educational attainment. Those government...

The associations between and among general human capital, financial management behavior, and social capital with an individual's financial position following bankruptcy are examined in this study. Using data from the National Longitudinal Survey of Youth 1979, the significance of each type of...

This study uses data from the Panel Study of Income Dynamics to examine whether self-regulation, proxied by regularly dining together with family, is associated with better financial preparedness and greater wealth accumulation across time among households. Findings reveal that individuals who...

Many individuals assert that in order for the field of financial planning to continue to expand its reach, influence, and recognition as a profession, pro bono efforts should be reinforced, expanded, and promoted. Current students in financial planning programs will be called upon to continue...

This study uses the most recent wave of the Health and Retirement Study (HRS) to examine participation of aging households in the long-term care insurance market. Results suggest that households who perceived a need to move to a nursing home within the next five years and households with higher...