Footnote:
In: Review of Finance, Vol. 17, No. 3, 2013
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 1, 2012 erstellt
Description:
Close to 30 percent of the U.S. population experiences at least one mental or substance abuse disorder each year. Given the prevalence of mental health issues, this paper analyzes the role of mental health and cognitive functioning in household portfolio choice decisions. Generally, we find that households affected by mental health issues decrease investments in risky instruments. Various mental health issues can reduce the probability of holding risky assets by up to 19 percent. Moreover, single women diagnosed with psychological disorders increase investments in safe assets. We also find that cognitive functioning issues are associated with an increase in financial assets devoted to retirement accounts