Effects of Family Income and Life Cycle Stages on Financial Asset Ownership
FINANCIAL COUNSELING AND PLANNING
Posted: 16 Apr 1997
This study investigated the effects of income and life cycle variables on the ownership of eleven household held financial assets, using the 1989 Survey of Consumer Finance. Logistic regression indicated that life cycle variables, such as household head's age, marital status, employment status, and child's presence, influenced ownership of 11 financial assets. The results can be used to construct various family life cycle scenarios to improve educational and business programs in financial planning and counseling.
JEL Classification: D91
Suggested Citation: Suggested Citation