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Welcome to the 2017 AFS Annual Meeing, being held this year, in conjunction with FPA in Nashville!
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Monday, October 2 • 1:30pm - Saturday, October 28 • 2:30pm
H2a The Effect of Advanced Age and Equity Values on Risk Preferences

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This paper analyzes the effect equity values and age have on the risk aversion of participants in U.S. defined contribution plans using a unique dataset with daily responses to a risk tolerance questionnaire. We find that older investors are more risk averse compared to younger cohorts when controlling for the level of the S&P 500 Index, account balance, income, savings percentage, equity percentage and allocation fund percentage. We also find that risk preferences are influenced by the level of the S&P 500, but only in advanced age.

Author(s): Michael Guillemette, Ph.D., CFP®, David Blanchett, Ph.D., CFA, CFP®, Michael Finke, Ph.D., CFP®

Presenters
MG

Michael Guillemette, Ph.D., CFP®

Assistant Professor, Texas Tech University


Monday October 2, 2017 1:30pm - Saturday October 28, 2017 2:30pm
MCC106A

Attendees (2)