The Federal Reserve Board eagle logo links to home page
Finance and Economics Discussion Series
The Finance and Economics Discussion Series logo links to FEDS home page Saving and Financial Planning: Some Findings from a Focus Group
Arthur B. Kennickell, Martha Starr-McCluer, and Annika E. Sunden

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

Full paper (40 KB PDF) | Full paper (81 KB Postscript)

Home | Economic research and data | FR working papers | FEDS | 1996 FEDS papers
To comment on this site, please fill out our feedback form.
Last update: July 16, 1997