Saving and Financial Planning: Some Findings from a Focus Group

Arthur B. Kennickell, Martha Starr () and Annika E. Sunden

No 1996-01, Finance and Economics Discussion Series from Board of Governors of the Federal Reserve System (U.S.)

Abstract: This paper summarizes the results of a focus group on saving and financial planning. The group consisted of eight individuals with relatively high income and wealth. The savings behavior of such people is of interest partly due to their large contribution to total personal saving. The participants expressed concerns about how their circumstances will change as they age, and about uncertainties in income and health. While these concerns are consistent with theories emphasizing life-cycle and precautionary motives, the idea that saving involves self-control was also mentioned repeatedly.

Keywords: Financial planning; saving (search for similar items in EconPapers)
Pages: 19 pages
Date: 2019-12-04
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Citations: View citations in EconPapers (3)

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http://www.federalreserve.gov/pubs/feds/1996/199601/199601pap.pdf (application/pdf)

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Working Paper: Saving and financial planning: some findings from a focus group (1996)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfe:1996-01

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