This study examines retirement plan participation and savings behavior for American public and private sector employees using the Panel Study of Income Dynamics (PSID) data set. This paper also examines the determinants of preference for a diversified portfolio within the retirement plans. The...

Purpose The purpose of this paper is to evaluate whether low financial literacy is associated with the use of risky mortgages and delinquency. Design/methodology/approach A probit analysis is used to analyze the results of a survey of US homeowners. Findings It was found that borrowers with low...

This paper uses a recent wave of a nationally representative survey to determine the predictors of financial planning services utilization among younger baby boomers. The results suggest that cognitive factors and factors related to human capital, such as IQ and educational attainment, are...