Vicki Schram Fitzsimmons

Authors: Gary Tagtmeier and Bob Gorsky Publisher: Financial Wareness Institute Read More >

Sherman Hanna

What should every student know about financial counseling and planning? To some extent, the minimum requirement is determined by accreditation and certification program requirements, such as the Accredited Financial Counselor program and the Certified Financial Planner (CFP) program. In particular, undergraduate programs in financial planning are influenced by the comprehensive... Read More >

Flora L. Williams and Helen Zhou

The replacement rate ý the ratio of retirement income to pre-retirement income -- is a key part of retirement planning, yet common advice is not based on research. This article reviews previous empirical research and statements by financial planners, and presents an empirical analysis of consumer expenditure data. Expenditures in... Read More >

Jing J. Xiao

This paper investigated worker motives for 401(k) contributions with data from the 1995 Survey of Consumer Finances. Employer matching and the ability to withdraw or borrow from the plan were related to greater contributions. In addition, risk tolerance, labor income, and years of working for the current employer were positively... Read More >

Flora L. Williams and Y. Emily Kao

This study examined the amount of funds available from home equity conversation or reverse annuity mortgages as income supplements for elderly people with different characteristics. Based on analysis of the 1989 Survey of Consumer Finances, substantial funds would be available. Information from this study can be useful in advising clients... Read More >

Virginia W. Junk, Linda K. Fox, Martha J. Einerson, and Linda K. Taff

Women, and unmarried women in particular, may be at risk of a financially insecure retirement. This exploratory study examines how gender is related to the type and number of retirement income sources pre-retirees age 50-70 expect. The effects of marital status, household income, education, age, community size, and health, on... Read More >

Lori L. Embrey and Jonathan J. Fox

Previous studies have suggested that women are more risk averse than men, leading women to choose more conservative investments. This study used a sample of one person households from the 1995 Survey of Consumer Finances to explore gender differences in the investment decision-making process. The determinants of some investment decisions... Read More >

Sung C. Bae and James P. Sandager

This study investigated the characteristics consumers want from a financial planner. A survey was developed to analyze the attitudes of potential clients for financial planning. The survey results show that potential clients want advice on retirement planning, investment planning, and tax planning, and prefer a financial planner to be affiliated... Read More >

E. Thomas Garman

Employers who offer personal finance education to employees convey that they are concerned with their long-term welfare. Employers offer financial education because of poor participation by employees in 401(k) retirement plans and fear of lawsuits from former workers claiming negligence for having a poor pension plan. As a result, employers... Read More >

Hui Wang and Sherman Hanna

This study examines the effect of age on risk tolerance. The life-cycle investment hypothesis is tested using the 1983-89 panel of the Survey of Consumer Finances. Household wealth is defined as the sum of human capital and net worth. Risk tolerance is measured by the ratio of risky assets to... Read More >

Sherman Hanna and Peng Chen

The distinction between subjective and objective risk tolerance is illustrated by expected utility analyses of portfolios. Optimal portfolios were derived for one, 5, and 20 year investment horizons for 6 major financial asset categories. The important aspects of objective risk tolerance are the proportion of an investor's total wealth (including... Read More >