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- Title
How Extended Family Mental Health Issues Influence Household Portfolio Allocations.
- Authors
Toney, Jermaine; Bogan, Vicki L.
- Abstract
Growing research links household financial decisions to physical and mental health status within the nuclear family. We hypothesize that mental health issues (psychological distress) outside of the nuclear family unit are a unique contributor to household portfolio allocation decisions. We use panel data and find that having at least one sibling with psychological distress decreases the probability of risky asset ownership (stocks, mutual funds), decreases risky assets as a share of financial assets, and decreases total amount of risky asset holding. These results have important policy-related implications for understanding the connection between health, portfolio allocation, and wealth building.
- Subjects
EXTENDED families; FAMILY health; HOUSEHOLDS; MENTAL health; NUCLEAR families; STOCK funds
- Publication
Review of Economics of the Household, 2024, Vol 22, Issue 2, p633
- ISSN
1569-5239
- Publication type
Article
- DOI
10.1007/s11150-023-09666-6