Misinformed and informed asset allocation decisions of self-directed retirement plan members

Gokul Bhandari and Richard Deaves

Journal of Economic Psychology, 2008, vol. 29, issue 4, 473-490

Abstract: Most defined contribution pension plan members misunderstand asset allocation, but those with higher levels of wealth managing their own money are less likely to be confused. Younger, more-educated, higher-earning advice-receiving males with a planner mindset hold more equity. Notably, an understanding of asset allocation accentuates the impact of the key factors age, income and a planner mindset.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:29:y:2008:i:4:p:473-490

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