Gender and Risk-Taking in the Building of U.S. Retirement Wealth

被引:0
|
作者
Christos I. Giannikos
Efstathia D. Korkou
机构
[1] The City University of New York (CUNY),Economics, The Graduate Center
[2] The City University of New York (CUNY),Bert Wasserman Department of Economics & Finance, Zicklin School of Business, Baruch College
[3] The City University of New York (CUNY),Department of Business and Economics, School of Business and Information Systems, York College
来源
Atlantic Economic Journal | 2023年 / 51卷
关键词
Gender; Sex; Retirement investment; Single-person households; Financial risk-taking; Survey of consumer finances; G11; J16; J26; D81; D91;
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摘要
The growing weight being placed on self-directed retirement accounts within the United States retirement income policy framework, and the time inconsistency challenge of individuals, particularly women, tending to under-invest in retirement savings accounts motivated the current work. Using data from the United States Federal Reserve Board’s Survey of Consumer Finances, for a period spanning from 1989 to 2019, 11 cross-sections of data, the paper investigated the role of gender in United States retirement risk-taking investment strategies of single (never married) individuals. The analysis documented increasing trends in the risk-taking of both single women and single men but recorded differences in the risk-taking profiles of the two groups, with single men taking more risk than single women in their retirement wealth building in most cross-sections, with the gender risk-taking gap dropping, nonetheless, algebraically in magnitude from 1989 to 2019.
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页码:259 / 274
页数:15
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