As defined contribution (DC) plans become more popular than defined benefit (DB) plans, American workers are increasingly responsible for their retirement savings. Because retirement plan participants' portfolio allocation is constrained by the available funds in the plan, the construction of a plan's investment menu has become extremely…

Using data from the 2016 Survey of Consumer Finances (SCF) and the Family Life Cycle (FLC) and Human Capital Theory (HCT) as a framework, this study examined if factors related to the likelihood of financial ratio adequacy and financial well-being differ for Hispanic and non-Hispanic White households. Hispanics' comprehensive financial well-being…

This study explores the relationship between objective measures and perceptions of financial well-being for older Americans. Financial well-being is measured objectively using three financial ratios including the liquidity ratio, the debt-to-asset ratio, and the investment ratio. Individuals' perceptions of their financial well-being are measured…

This study examines the roles of internal and external search characteristics and attitudinal factors in investors' decisions to utilize robo-advisor-based platforms. Using the 2015 state-by-state National Financial Capability Study and Investor Survey, this study finds that the need to free up time, higher risk tolerance, higher subjective…

This study investigated the degree to which the financial risk tolerance of individuals was influenced by volatility in the U.S. equities market during the period of the Great Recession. Based on data from a valid and reliable risk tolerance scale and return information for the Standard and Poor's (S&P) 500 index, there does appear to be some…

Financial risk tolerance is an important personal characteristic that is widely used by financial professionals to guide the development and presentation of client-centered recommendations. As more baby boomers enter retirement, research on how these individuals perceive their willingness to take financial risks has gained importance, particularly…

The purpose of this study is to investigate whether a professional designation affects consumer choice behavior within the area of investment decision making. Forty-six participants were endowed with real money and received hypothetical investment advice from a certified financial planner (CFP) Professional and a stockbroker. Among low-income…

Social media play a role in the lives of young adults (18-25 years old), but motivators and influences of this and similar sources on their money handling are not well-understood. This study examined their personal finance information source choices using a non-random online survey (N = 229). Results of structural equation modeling suggested that…

The capital accumulation ratio (CAR) is commonly used in academic research as a measure of household portfolio quality. This study tested whether a higher initial CAR impacts change in wealth over a decade among households in the accumulation life cycle stage. Meeting the 25% CAR guideline resulted in a 28.1% increase in net worth between 1994 and…

A needs assessment was conducted for the adaptation of an existing online Cooperative Extension investment course for use by farm households. The theoretical model was Social Marketing Theory. Data about financial attitudes, practices, and learning preferences of farm households were collected through a telephone survey of 300 farm households and…

A social constructionist perspective was taken in the current investigation of 5,329 male and female high school students. Gender differences were investigated in financial knowledge, self-efficacy, and behavior after studying a financial planning curriculum. Females gained more knowledge on credit, auto insurance, and investments, although males…