Is the way that individuals make risky financial choices, or tradeoffs over time, related to demographic characteristics? This article attempts to examine whether there is a link between demographic variables, risk aversion, and impatience using a randomly drawn sample of the population in Sweden. Based on a proportional odds model, the findings show that willingness to take financial risk depends on portfolio structure, gender, age, educational attainment, income, financial stability, financial literacy, marital status, and family size. Financial counselors are encouraged to use the variables related to financial risk tolerance discussed in this article whenever developing portfolios or in calculations that require specific information about a person’s willingness to take financial risk.

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