Financial Risk Tolerance, Sensation Seeking, and Locus of Control among Pre-Retiree Baby Boomers

Autor/inn/en	Rabbani, Abed G.; Yao, Zheying; Wang, Christina; Grable, John E.
Titel	Financial Risk Tolerance, Sensation Seeking, and Locus of Control among Pre-Retiree Baby Boomers
Quelle	In: Journal of Financial Counseling and Planning, 32 (2021) 1, S.146-157 (12 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Zusatzinformation	ORCID (Rabbani, Abed G.) ORCID (Wang, Christina)
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	1052-3073
Schlagwörter	Risk; Decision Making; Money Management; Financial Services; Investment; Locus of Control; Personality Traits; Individual Characteristics; Older Adults; Generational Differences; Retirement; Baby Boomers; Behavior Patterns; Correlation; Longitudinal Studies; National Surveys; National Longitudinal Survey of Youth + Suchen Sie Ihr Suchwort? Risiko; Decision-making; Entscheidungsfindung; Investments; Geldanlage; Investiton; Individual characteristics; Personality characteristic; Persönlichkeitsmerkmal; Personality traits; Älterer Erwachsener; Pensionierung; Korrelation; Longitudinal study; Longitudinal method; Longitudinal methods; Längsschnittuntersuchung
Abstract	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 as the focus of investment portfolios changes from capital accumulation to capital preservation in retirement. This study examined the role of sensation seeking and locus of control on financial risk tolerance for a pre-retiree baby boomer sample using the 2014 wave of the National Longitudinal Survey of Youth 1979. Findings from three ordinary least square (OLS) regression models showed that baby boomers who were not sensation seekers, and those who displayed an external locus of control orientation were more likely to exhibit a low tolerance for financial risk. Furthermore, those who engaged in sensation-seeking behavior were more likely to have an internal locus of control orientation and a high tolerance for risk. (As Provided).
Anmerkungen	Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: https://connect.springerpub.com/content/sgrjfcp
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01