Michael S. Finke

The American College

Dean

Bryn Mawr, PA 19010

United States

  • The American College

SCHOLARLY PAPERS

54

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32,281

CITATIONS
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Top 19,255

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16

Scholarly Papers (54)

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1.

The 4 Percent Rule is Not Safe in a Low-Yield World

Number of pages: 15 Posted: 16 Jan 2013 Last Revised: 17 Jan 2013
Michael S. Finke, Wade D. Pfau and David Blanchett
The American College, The American College and Morningstar Investment Management
Downloads 7,472 (707)

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retirement, systematic withdrawals, 4% rule, safe withdrawal rates

2.

Asset Valuations and Safe Portfolio Withdrawal Rates

Number of pages: 17 Posted: 28 Jun 2013 Last Revised: 01 Jul 2013
David Blanchett, Michael S. Finke and Wade D. Pfau
Morningstar Investment Management, The American College and The American College
Downloads 4,032 (2,062)

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retirement, asset valuations, withdrawal rates, Monte Carlo

3.

Optimal Portfolios for the Long Run

Number of pages: 26 Posted: 06 Sep 2013 Last Revised: 05 Feb 2014
David Blanchett, Michael S. Finke and Wade D. Pfau
Morningstar Investment Management, The American College and The American College
Downloads 3,551 (2,580)

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time diversification, portfolio choice, stock allocation

4.

Old Age and the Decline in Financial Literacy

Forthcoming in Management Science
Number of pages: 40 Posted: 24 Oct 2011 Last Revised: 30 Oct 2015
Michael S. Finke, John S. Howe and Sandra J. Huston
The American College, University of Missouri at Columbia - Department of Finance and Texas Tech University
Downloads 3,005 (3,451)
Citation 3

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personal finance, financial literacy, cogntive ability, household finance, cognitive aging

5.

Risk Tolerance Questions to Best Determine Client Portfolio Allocation Preferences

Journal of Financial Planning 25, 5: 36-44, 2012
Number of pages: 9 Posted: 21 Jun 2012 Last Revised: 20 Apr 2015
Michael Guillemette, Michael S. Finke and John Gilliam
Texas Tech University - Department of Personal Financial Planning, The American College and Texas Tech University
Downloads 1,254 (14,684)

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risk tolerance, portfolio allocation, portfolio choice

6.

Spending, Relationship Quality, and Life Satisfaction in Retirement

2018 Academic Research Colloquium for Financial Planning and Related Disciplines
Number of pages: 23 Posted: 25 Sep 2017
Michael S. Finke, Nhat Ho and Sandra J. Huston
The American College, Eastern New Mexico University and Texas Tech University
Downloads 1,229 (15,186)

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Retirement Spending, Relationship Quality, Life Satisfaction

7.

The Impact of the Broker-Dealer Fiduciary Standard on Financial Advice

Number of pages: 31 Posted: 10 Mar 2012
Michael S. Finke and Thomas Patrick Langdon
The American College and affiliation not provided to SSRN
Downloads 1,200 (15,753)
Citation 2

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fiduciary regulation, broker dealer exemption, financial advice, household finance, investment advising, brokerage industry

8.

The Concept of Risk Tolerance in Personal Financial Planning

Hanna, S. D., Waller, W., & Finke, M. (2008). The concept of risk tolerance in personal financial planning. Journal of Personal Finance, 7 (1), 96-108.
Number of pages: 19 Posted: 08 Sep 2011 Last Revised: 14 Jun 2015
Sherman D. Hanna, William Waller and Michael S. Finke
Ohio State University (OSU), Carnegie Mellon University - David A. Tepper School of Business and The American College
Downloads 1,126 (17,300)

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risk tolerance, financial planning, household finance

9.

Required Retirement Savings Rates Today

Number of pages: 22 Posted: 18 Oct 2016
David Blanchett, Michael S. Finke and Wade D. Pfau
Morningstar Investment Management, The American College and The American College
Downloads 969 (21,705)

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Retirement Savings, Life Cycle Saving, Low Returns, Financial Planning, Household Finance

10.

Financial Advice: Does it Make a Difference?

Number of pages: 28 Posted: 06 May 2012 Last Revised: 07 May 2012
Michael S. Finke
The American College
Downloads 855 (26,005)
Citation 2

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11.

Financial Sophistication and Housing Leverage Among Older Households

Number of pages: 35 Posted: 17 Jan 2012 Last Revised: 19 May 2015
Hyrum L. Smith, Michael S. Finke and Sandra J. Huston
Utah Valley University, The American College and Texas Tech University
Downloads 754 (30,986)

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12.

Planning for Retirement

Number of pages: 37 Posted: 01 Jan 2013
Terrance Martin and Michael S. Finke
University of Texas - Pan American - College of Business Administration - Department of Economics & Finance and The American College
Downloads 729 (32,462)

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financial planner, comprehensive financial advice, retirement savings, 2008 NLSY 79

13.

Spending Flexibility and Safe Withdrawal Rates

Number of pages: 20 Posted: 09 Nov 2011
Michael S. Finke, Wade D. Pfau and Duncan Williams
The American College, The American College and Texas Tech University
Downloads 674 (36,086)
Citation 1

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retirement planning, retirement income, shortfall risk, safe withdrawal rates

14.

Redemption Fees: Reward for Punishment

Number of pages: 40 Posted: 14 Apr 2008 Last Revised: 16 Sep 2015
Michael S. Finke, David Nanigian and William Waller
The American College, California State University, Fullerton - Department of Finance and Carnegie Mellon University - David A. Tepper School of Business
Downloads 486 (55,076)
Citation 2

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Mutual Funds, Redemption Fees

15.

Annuitized Income and Optimal Asset Allocation

2018 Academic Research Colloquium for Financial Planning and Related Disciplines
Number of pages: 18 Posted: 23 Sep 2017
David Blanchett and Michael S. Finke
Morningstar Investment Management and The American College
Downloads 402 (69,556)

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16.

The Impact of Passive Investing on Corporate Valuations

Number of pages: 22 Posted: 05 Mar 2011 Last Revised: 08 Aug 2011
Eric Belasco, Michael S. Finke and David Nanigian
Texas Tech University, The American College and California State University, Fullerton - Department of Finance
Downloads 374 (75,612)

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Active management, passive management, indexing, index fund, index premium, demand curves for stocks, S&P 500

17.

Time Preference and the Importance of Saving for Retirement

Number of pages: 31 Posted: 28 Feb 2006 Last Revised: 13 Mar 2013
Michael S. Finke and Sandra J. Huston
The American College and Texas Tech University
Downloads 348 (82,233)

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Time discounting, time preference, retirement saving, behavioral finance

18.

The Economics of Fiduciary Investment Advice

Number of pages: 10 Posted: 02 Nov 2010
Michael S. Finke and Benjamin F. Cummings
The American College and The American College of Financial Services
Downloads 299 (97,444)
Citation 2

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19.

An Overview of Retirement Income Strategies

Journal of Investment Consulting, Vol. 17, No. 1, p. 22-30, 2016
Number of pages: 11 Posted: 18 Oct 2016
Michael S. Finke and David Blanchett
The American College and Morningstar Investment Management
Downloads 293 (99,961)

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20.

Do Contracts Impact Comprehensive Financial Advice?

Number of pages: 21 Posted: 04 Jul 2009 Last Revised: 09 Aug 2011
Michael S. Finke, Sandra J. Huston and William Waller
The American College, Texas Tech University and Carnegie Mellon University - David A. Tepper School of Business
Downloads 256 (114,854)
Citation 1

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Financial Advice, Financial Planning, Agency Theory, Life Insurance

21.

Financial Advice: Who Pays

Journal of Financial Counseling and Planning, Vol. 22, No. 1, p. 18, 2011
Number of pages: 9 Posted: 16 May 2012
Michael S. Finke, Sandra J. Huston and Danielle D. Winchester
The American College, Texas Tech University and North Carolina Agricultural and Technical State University
Downloads 242 (121,677)
Citation 1

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financial advice, financial services, professional advice

22.

Cognitive Ability and Post-Retirement Asset Decumulation

Number of pages: 29 Posted: 06 Feb 2014
Chris Browning, Sandra J. Huston and Michael S. Finke
Texas Tech University, Texas Tech University and The American College
Downloads 238 (123,687)

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cognitive ability, retirement, asset decumulation

23.

Compensation and Client Wealth Among U.S. Investment Advisors

Number of pages: 26 Posted: 05 Apr 2011
Luke Dean and Michael S. Finke
William Paterson University and The American College
Downloads 222 (132,527)
Citation 1

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RIA, investment advisor, financial regulation, commission, fiduciary, household finance

24.

Bounded Rationality Strikes Again: The Impact of Cognitive Ability and Financial Planners on Roth IRA Adoption and Ownership

Number of pages: 60 Posted: 07 Dec 2011 Last Revised: 09 May 2014
Benjamin F. Cummings, Michael S. Finke and Russell N. James
The American College of Financial Services, The American College and Texas Tech University
Downloads 185 (157,172)

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cognitive ability, financial planner, Roth IRA, National Longitudinal Survey of Youth (NLSY)

25.

A Financial Sophistication Proxy for the Survey of Consumer Finances

Number of pages: 11 Posted: 28 Aug 2011
Sandra J. Huston, Michael S. Finke and Hyrum L. Smith
Texas Tech University, The American College and Utah Valley University
Downloads 183 (158,731)

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Survey of Consumer Finances, household finance, financial literacy, financial sophistication

26.

Social Security: Who Wants Private Accounts?

Number of pages: 31 Posted: 13 Oct 2008
Michael S. Finke and Swarn Chatterjee
The American College and University of Georgia
Downloads 172 (167,736)

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social security, portfolio choice, private accounts, privatization

27.

The Unsophisticated Sophisticated: Old Age and the Accredited Investors Definition

Number of pages: 26 Posted: 25 Jul 2015
Tao Guo, Michael S. Finke and Chris Browning
William Paterson University, The American College and Texas Tech University
Downloads 158 (180,457)

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financial literacy, accredited investors, old age, private equity

28.

Saving for a Bleaker Tomorrow: iOMe Challenge 2010

Number of pages: 38 Posted: 25 Jan 2011 Last Revised: 30 Jan 2011
Chris Browning, Benjamin F. Cummings, Michael S. Finke, Thomas Charles O'Malley and Shaun Alvin Pfeiffer
Texas Tech University, The American College of Financial Services, The American College, Texas Tech University - Department of Personal Financial Planning and Texas Tech University - Applied and Professional Studies
Downloads 156 (182,444)

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Retirement Policy, Social Security, Household Finance

29.

Do Large Swings in Equity Values Change Risk Tolerance?

Guillemette, Michael and Michael Finke. 2014. “Do Large Swings in Equity Values Change Risk Tolerance?” Journal of Financial Planning 27 (6): 44-50.
Number of pages: 7 Posted: 02 Jun 2014
Michael Guillemette and Michael S. Finke
Texas Tech University - Department of Personal Financial Planning and The American College
Downloads 151 (187,512)

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risk tolerance, risk aversion, equity values

30.

The Effect of Advanced Age and Equity Values on Risk Preferences

Blanchett, D., Finke, M and Guillemette, M. (2018). The Effect of Advanced Age and Equity Values on Risk Preferences. Journal of Behavioral Finance, Forthcoming
Number of pages: 22 Posted: 02 May 2017 Last Revised: 26 Jan 2018
David Blanchett, Michael S. Finke and Michael Guillemette
Morningstar Investment Management, The American College and Texas Tech University - Department of Personal Financial Planning
Downloads 138 (202,875)

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risk preferences, risk aversion, stock prices, old age, financial planning

31.

Who Exhibits Time Varying Risk Aversion?

Number of pages: 46 Posted: 27 Apr 2016 Last Revised: 29 Apr 2016
David Blanchett, Michael S. Finke and Michael Guillemette
Morningstar Investment Management, The American College and Texas Tech University - Department of Personal Financial Planning
Downloads 128 (214,140)

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Risk Aversion, Time Varying Risk Aversion, Advanced Age, Account Balance, Income, Morningstar

32.

Fiduciary Standard and Financial Advice: Findings from Academic Literature

Number of pages: 25 Posted: 04 Apr 2014
Michael S. Finke
The American College
Downloads 118 (227,662)

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Financial advice, household finance, fiduciary standard, financial planning

33.

Does Cognitive Ability Impact Life Insurance Policy Lapsation?

Number of pages: 48 Posted: 21 Oct 2014
Barry S. Mulholland and Michael S. Finke
University of Akron - Department of Finance and The American College
Downloads 110 (239,464)

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Health and Retirement Study; life insurance; cognitive ability; lapsation

34.

Cognitive Ability and the Stock Reallocations of Retirees during the Great Recession

Number of pages: 23 Posted: 05 Feb 2014 Last Revised: 07 Nov 2014
Chris Browning and Michael S. Finke
Texas Tech University and The American College
Downloads 92 (270,159)

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great recession, cognitive ability, stock reallocation, household finance, retirement

35.

Financial Literacy and Shrouded Credit Card Rewards

Number of pages: 22 Posted: 13 Mar 2013
Laura C. Ricaldi, Michael S. Finke and Sandra J. Huston
Utah Valley University, The American College and Texas Tech University
Downloads 86 (281,813)

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Financial literacy, credit card rewards, shrouded attributes, household finance

36.

Rational Choice with Complex Products: Consumer Valuation of Annuities

Journal of Financial Counseling and Planning, Forthcoming
Number of pages: 33 Posted: 19 Nov 2012 Last Revised: 11 Sep 2013
Chris Browning, Michael S. Finke and Sandra J. Huston
Texas Tech University, The American College and Texas Tech University
Downloads 80 (294,478)

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annuities, financial literacy, household finance, retirement policy

37.

The Impact of Financial Sophistication on Adjustable Rate Mortgage Ownership

Journal of Financial Counseling and Planning, Vol. 22, No. 2, 2011
Number of pages: 13 Posted: 16 May 2012
Hyrum L. Smith, Michael S. Finke and Sandra J. Huston
Utah Valley University, The American College and Texas Tech University
Downloads 69 (320,303)

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adjustable-rate mortgages, financial sophistication, mortgage choice, Survey of Consumer Finances

38.

Household Investment Asset Variation and Wealth

Downloads 62 (338,769)

Household Investment Asset Variation and Wealth

The International Journal of Business and Finance Research, Vol. 4, No. 2, pp. 1-11, 2010
Number of pages: 11 Posted: 09 Sep 2010
Nathaniel J. Harness, Michael S. Finke and Swarn Chatterjee
Texas A&M University - Department of Economics and Finance, The American College and University of Georgia
Downloads 62 (343,269)

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Investment variation, portfolio choice, capital accumulation

Household Investment Asset Variation and Wealth

International Journal of Management and Marketing Research, Vol. 3, No. 1, pp. 1-11, 2010
Posted: 09 Sep 2010
Nathaniel J. Harness, Michael S. Finke and Swarn Chatterjee
Texas A&M University - Department of Economics and Finance, The American College and University of Georgia

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Investment variation, portfolio choice, capital accumulation

39.

Understanding the Shift in Demand for Cash Value Life Insurance

Downloads 60 (344,261)

Understanding the Shift in Demand for Cash Value Life Insurance

Number of pages: 43 Posted: 01 Nov 2013
Barry S. Mulholland, Michael S. Finke and Sandra J. Huston
University of Akron - Department of Finance, The American College and Texas Tech University
Downloads 60 (349,017)

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Survey of Consumer Finances, cash value life insurance, declining insurance demand, financial sophistication, qualified savings plans

Understanding the Shift in Demand for Cash Value Life Insurance

Risk Management and Insurance Review, Vol. 19, Issue 1, pp. 7-36, 2016
Number of pages: 30 Posted: 21 Mar 2016
Barry S. Mulholland, Michael S. Finke and Sandra J. Huston
University of Akron - Department of Finance, The American College and Texas Tech University
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40.

Individual Property Risk Management

Number of pages: 20 Posted: 18 Mar 2010 Last Revised: 11 Apr 2010
Eric Belasco, Sandra J. Huston and Michael S. Finke
Texas Tech University, Texas Tech University and The American College
Downloads 55 (359,208)

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household risk, prospect theory, optimal risk retention

41.

Does Home Equity Explain the Black Wealth Gap?

Number of pages: 49 Posted: 17 Jan 2012 Last Revised: 23 Jan 2012
Ajamu C. Loving, Michael S. Finke and John Salter
Texas A&M University, The American College and Texas Tech University
Downloads 46 (388,056)

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Black wealth, net worth, household finance, home equity, wealth gap, race

42.

Advisor Beliefs Regarding Effective Life Insurance Disclosure

Number of pages: 48 Posted: 29 Jun 2013 Last Revised: 20 Oct 2014
Barry S. Mulholland, Michael S. Finke and John Gilliam
University of Akron - Department of Finance, The American College and Texas Tech University
Downloads 43 (398,584)

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Life insurance disclosure, life insurance illustration, agency theory, NAIC regulation

43.

The Effects of the Capital Accumulation Ratio on Wealth

Journal of Financial Counseling and Planning, Vol. 20, No. 1, 2009
Number of pages: 14 Posted: 27 Feb 2013
Nathaniel J. Harness, Michael S. Finke and Swarn Chatterjee
Texas A&M University - Department of Economics and Finance, The American College and University of Georgia
Downloads 43 (402,137)

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capital accumulation ratio, net worth, personal financial ratio analysis

44.

Characteristics of Recent Adjustable-Rate Mortgage Borrowers

Journal of Financial Counseling and Planning, Vol. 16, No. 2, 2006
Number of pages: 12 Posted: 12 Apr 2013
Michael S. Finke, Sandra J. Huston, Emilian Siman and Mel Corlija
The American College, Texas Tech University, University of Missouri at Columbia - Personal Financial Planning and University of Missouri at Columbia - Personal Financial Planning
Downloads 41 (405,778)
Citation 1

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Mortgage loans, adjustable-rate mortgages, mortgage trends

45.

Low-Cost Obesity Interventions: The Market for Foods

Number of pages: 24 Posted: 17 Jan 2017
Michael S. Finke and Sandra J. Huston
The American College and Texas Tech University
Downloads 32 (441,808)

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Obesity, food consumption, nutrition economics, nutrition policy

46.

The Mitigating Influence of Time Preference on the Relation between Smoking and BMI Scores

Number of pages: 25 Posted: 04 Dec 2010
Cliff A. Robb, Sandra J. Huston and Michael S. Finke
University of Alabama, Texas Tech University and The American College
Downloads 31 (446,292)

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Behavioral economics, time preference, intertemporal choice, obesity, smoking, health economics, nutrition economics

47.

Rational Choice with Complex Products: Consumer Valuation of Annuities

Journal of Financial Counseling and Planning, Vol. 23, No. 2, 2012
Number of pages: 14 Posted: 20 Feb 2013
Chris Browning, Michael S. Finke and Sandra J. Huston
East Central University - Accounting Department, The American College and Texas Tech University
Downloads 29 (455,482)

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annuities, financial literacy, household finance, retirement policy

48.

Marriage and the Financial Knowledge Gender Gap

Number of pages: 61 Posted: 04 Dec 2018
Laura Mattia, Sandra J. Huston and Michael S. Finke
University of South Florida, Texas Tech University and The American College
Downloads 3 (602,306)

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49.

Chapter 4: Financial Literacy and Education

Investor Behavior: The Psychology of Financial Planning and Investing. H. Kent Baker and Victor Ricciardi, editors, 65-82, Hoboken, NJ: John Wiley & Sons, Inc., 2014
Posted: 01 Mar 2014 Last Revised: 10 May 2014
Michael S. Finke and Sandra J. Huston
The American College and Texas Tech University

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Financial literacy, financial knowledge, financial education, human capital, personal finance, behavioral finance, behavioural finance, behavioral economics, behavioural economics

50.

Balance Sheets of Early Boomers: Are They Different From Pre-Boomers?

Journal of Family and Economic Issues, Vol. 27, No. 3, pp. 542-561, 2006
Posted: 01 Nov 2008 Last Revised: 25 Jun 2010
Michael S. Finke, Sandra J. Huston and Deanna L. Sharpe
The American College, Texas Tech University and University of Missouri at Columbia

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Cohort wealth, Baby boomers, Net worth

51.

The Brigher Side of Financial Risk: Financial Risk Tolerance and Wealth

Journal of Family and Economic Issues, Vol. 24, No. 3, pp. 233-256, Fall 2003
Posted: 20 Jun 2005
Michael S. Finke and Sandra J. Huston
The American College and Texas Tech University

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Risk tolerance, wealth accumulation, personal finance

52.

Factors Affecting the Probability of Choosing a Risky Diet

Journal of Family and Economic Issues, Vol. 24, No. 3, pp. 291-303, Fall 2003
Posted: 20 Jun 2005
Michael S. Finke and Sandra J. Huston
The American College and Texas Tech University

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Diet choice, time preference, food consumption, nutrition economics, risk

53.

Diet Choice and the Role of Time Preference

The Journal of Consumer Affairs, Vol. 37, No. 1, pp. 143-160, 2003
Posted: 20 Jun 2005
Sandra J. Huston and Michael S. Finke
Texas Tech University and The American College

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Diet choice, time preference, food consumption, nutrition economics

54.

Negative Net Worth and the Life Cycle Hypothesis

Financial Counseling and Planning, 1996
Posted: 27 Nov 1996
Peng Chen and Michael S. Finke
Ibbotson Associates and The American College

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