Graduate Thesis Or Dissertation

 

Ethnic Differences in Reliance On Family Versus Personal Savings in the Face of a Financial Shock Public Deposited

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https://scholar.colorado.edu/concern/graduate_thesis_or_dissertations/rj430480f
Abstract
  • The current research was inspired by retirement-readiness reports highlighting severe discrepancies in 401(k) balances and hardship withdrawal rates between four ethnic groups, which led to the guiding question: do minorities save less, or do they save differently? I hypothesize that, holding age and income constant, minorities may rely less on personal savings and more on a family financial buffer in the face of financial shocks. If true this may partially explain the low retirement savings balances among minorities relative to Caucasians. This thesis involves a reanalysis of Erner et al.'s (in preparation) study 2 dataset to look for ethnicity effects not examined in their work. They surveyed attitudes toward a variety of possible strategies to cope with a $2,000 financial shock. I found that, relative to their Caucasian and Asian counterparts, African Americans significantly rely relatively more on family members and less on personal savings to cope, controlling for income and age
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  • 2014
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  • 2019-11-18
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