Assertiveness and Investment Risk of Married Couples


Gilliam, J., Dass, M., Durband, D. B. & Hampton, V. (2010). The role of assertiveness in portfolio risk and financial risk tolerance among married couples. Journal of Financial Counseling and Planning 21 (1), pp. 53-67.

Brief Description:  Couples who were clients of financial planners were surveyed regarding their assertiveness, risk tolerance and investment portfolios. No relationship was found between assertiveness and risk tolerance or portfolio risk level. There was a positive relationship between wife’s proportion of asset holding (higher relative …

Women’s investment decision-making


Loibl, C., Lee, J., Mentel-Gaeta, E., Fox. J. (2007). Women’s high-consequence decision making: A nonstatic and complex choice process. Financial Counseling and Planning, 18(2), 35-47.

Brief Description: Using qualitative data from a focus group of female investors, this study examined choice processes used when making mutual fund decisions in employer retirement plans. It found that investment decision-making is a compromise between the goals of increased accuracy and a desire to limit cognitive effort. Observations included a lack of investment information …

Consumer Debt Repayment and Bankruptcy


Moorman, D. & Garasky, S. (2008) Consumer debt repayment behavior as a precursor to bankruptcy. Journal of Family and Economic Issues, 29(2), 219-233.

Brief Description: This study explores the extent to which households seek bankruptcy protection without first attempting to restructure their debt or experiencing financial distress. As was expected, results indicate that a significant relationship exists between having prior financial problems and filing for bankruptcy. Households that obtained consolidation loans were equally likely to file for bankruptcy as …

Effect of Personal Financial Knowledge on College Students’ Credit Card Behavior


Robb, C.A. and Sharpe, D.L. (2009). Effect of Personal Financial Knowledge on College Students’ Credit Card Behavior. Association for Financial Counseling and Planning Education. 25-43.

Abstract: Analysis of survey data collected from 6,520 students at a large Midwestern University affirmed that financial knowledge is a significant factor in the credit card decisions of college students but not entirely in expected ways. Results of a double hurdle analysis indicated that students with relatively higher levels of financial knowledge were not significantly …

Educating Widows in Personal Financial Planning


Korb, B. R. (2010). Financial planners: Educating widows in personal financial planning. Journal of Financial Counseling and Planning 21 (2), pp. 3-15.

Brief Description:  Financial planners and their widowed clients were interviewed. Research revealed that widows vary by age in terms of their knowledge level and risk tolerance as well as their needs for financial advice and education, with the younger widows were less risk adverse and more financially literate but in need of financial guidance for a longer time …

Factors related to being in higher income categories


DeVaney, S. A., & Anong, S. T. (2007). Income quintiles: Examining changes in the characteristics of respondents. Financial Counseling and Planning, 18(2), 19-34.

Brief Description: This study identified characteristics of Survey of Consumer Finances (SCF) respondents in different income distribution quintiles in 1998, 2001, and 2004. Characteristics associated with being in the upper and upper-middle income quintiles included age, education, homeownership, luxury vehicle ownership, and regular savings. Variables that were not significant included gender and family type and attitude …

Financial Security: Managing Money in Tough Times

Man looking at camera, appears to be troubled

More Americans feel added stress and anxiety about their financial future as talk of rising consumer debt, falling housing prices, rising costs of living, and declining retail sales bring up worries about the nation’s economic health.

Money is often on the minds of most Americans. In fact, according to the American Psychological Association’s 2007 Stress in America survey, money and work are two of the top sources of stress for almost 75 percent of Americans. Add to the mix headlines …

Talk Among Family Members

Talking with our families about end-of-life issues, such as living wills and health-care agents, isn’t easy. To learn about discussion strategies that work, click on the video buttons that follow. You’ll view streaming videos and read about people who have discussed end-of-life issues with their own families. Most, but not all, have already completed their advance directives for health care.

Hold a Family Meeting

family discussion

The best situation to foster communication among family members may be a formalized meeting to address concerns. The initiator might contact each person by phone, letter, or e-mail to suggest holding a meeting at a convenient time. Conducting end-of-life discussions during emotionally demanding events, such as holidays and family celebrations, may not be the best time for some families. A time when all are fresh may be better. However, holidays and family celebrations may be the only occasion when you …

Personal and Family Records

Father and Daughter

When changes occur, update your list of advisers, educational and employment records, and health and immunization records for yourself, family members, and pets.

Keep current insurance policies on file and review them for necessary or desirable changes, such as beneficiary designations.

Update educational records by getting a certified copy of all credits earned at any institution of higher learning.