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2020 Conference

du 18 au 20 May 2020

Proposal authors can use this tool to see where they have been placed in the agenda for a Symposium, an Oral Session, or a Featured Research Session Poster.

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D1c The Effect of Bequest Motive on Investment Portfolio Allocation Among Older Adults

jeudi 21 mai 2020 à 09:00–10:30 CDT
Room 1
Key Words

older adults, age, bequest motive, risky assets, stock, investment

Short Description

The purpose of this study is to investigate the effect of bequest motive on investment in risky assets among older adults. Using the 2016 RAND HRS longitudinal data, we find that a strong bequest motive has a significantly positive effect on risky assets investment among older adults. It is generally true that as people age, their investments to fulfill goals within their own lifetime should be more conservative. However, age should not be a major factor for all goals. Our results suggest that financial advice should be goal-oriented and adjusted for their risk tolerance and investment horizons. Investors with a bequest motive should receive advice according to their stated goals and corresponding investment horizon.

First & Corresponding Author

Weipeng Wu, University of Missouri - Columbia
Authors in the order to be printed

Weipeng Wu, Rui Yao

Additional Authors

Rui Yao, University of Missouri - Columbia
Chargement en cours …