Keywords: Financial planning, saving
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.
Full paper (40 KB PDF)
| Full paper (81 KB Postscript)
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Last update: July 16, 1997