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Gong-Soog Hong and Patricia M. Swanson

This study examined the changes in the household financial well-being of older women ages 55 and over by using data from the 1977 and 1989 Survey of Consumer Finances. Three financial measures, household income, emergency fund adequacy, and debt-to-income ratio, were used. The findings showed that older women in both... Read More >

Y. Regina Chang and Sandra J. Huston

The 1983 and 1986 Surveys of Consumer Finance were used to analyze patterns of meeting a guideline of holding enough liquid assets to cover three months of income (emergency fund adequacy). In both years, only 32% of households met the guideline. Only 21% of households met the guideline in both... Read More >

Michael J. Sullivan,

This paper models the closed-form solutions of the present and future values of a constant-growth annuity in a manner that allows easy application of the time-value-of-money functions of a financial calculator. This model allows exact solutions and is valuable to practitioners and students for a number of applications that are... Read More >

Lucy X. Zhong and Jing Jian Xiao

This study examined characteristics of individual bond and stock holders, using data from the 1989 Survey of Consumer Finances. The results of the tobit models showed bonds and stocks are more likely to be held by families with adequate financial resources to maintain daily lives and enough funds to meet... Read More >

Roger Swagler, John Burton and Joan Koonce Lewis

;Lower-income consumers use a growing number of financial services including pawn shops, rent-to- own programs, check-cashing outlets, and rapid-refund tax services as alternatives to traditional financial services. These services constitute the Alternative Financial Sector (AFS). Compared to the traditional financial sector, AFS services are very expensive. This article describes services... Read More >

Gladys G. Shelton and Octavia L. Hill

The purpose of this study is to determine whether participation in a First-Time Homebuyers Educational Program affects budgeting behavior of program participants. The program was created to assist low to moderate income households in becoming homeowners by providinginformation on budgeting and all aspects of selecting, purchasing, and maintaining a home.... Read More >

Celia Ray Hayhoe and Mari S. Wilhelm

This study examined the intergender differences between men and women primary family financial managers (PFFM). The results supported the need for research to examine differences between men and women besides examining the differences between men and women PFFMs. Of the 20 variables employed in this study, only the money attitude... Read More >

Walt Woerheide

The purpose of this paper is to examine how the variables of salary growth rate, inflation, employee age, and career length affect the relative desirability of defined contribution (DC) plans compared to defined benefit (DB) plans. High salary growth rate and employee age favor DB pensions. A longer career favors... Read More >

Craig M. Newmark and Michael Walden

Retiring at age 62 allow pensions and Social Security payments earlier, with three more years of leisure time. Waiting to retire at age 65 will probably give the retiree larger pension and Social Security payments plus the earnings from three more years of work. We present a methodology for analyzing... Read More >

Sharon A. DeVaney

The purpose of the study was to examine factors related to retirement preparation of older and younger cohorts of the baby boomers using a criterion of having investment assets greater than 25% of net worth. Using the 1989 Survey of Consumer Finances, logit analyses showed that being white and expecting... Read More >

Y. Lakshmi Malroutu and Jing J. Xiao

Data from the 1989 Survey of Consumer Finance were used to examine the effect of socio- demographic, human capital, work related, and objective variables on perceived adequacy of retirement income of preretirees. A multivariate probit analysis showed that younger respondents, whites, those with incomes between $10,000 and $19,999, females, and... Read More >

Hye-Kyung Lee and Sherman Hanna

The optimal proportion of a household's investment portfolio that should be in risky assets such as stocks depends on what proportion of total wealth, including human wealth, the investment portfolio represents. This article estimates the total wealth of households in the U.S. Survey of Consumer Finances, and finds that financial... Read More >