Disability Type, Financial Capability, and Risky Asset Holding

Bibliographic Data

ID12364711
AuthorsJing Jian Xiao (0000-0003-3252-5672, University of Rhode Island, Kingston, USA, corresponding author), Barbara O’neill (0000-0002-4098-1910, Rutgers Cooperative Extension, New Brunswick, NJ, USA)
Year2020
Volume32
Issue4
Pages269-279
Publication date2020-12-29
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueJournal of Disability Policy Studies (JOURNAL)
Journal identifiersISSN: 1044-2073 • E-ISSN: 1538-4802
PublisherSAGE Publishing (PUBLISHER • US)
DOI10.1177/1044207320981781
OpenAlexW3043387940
LanguageEN
Citations received2
References cited23

Risky financial asset holding is considered an indicator of financial well-being because risky asset holders are likely to accumulate more wealth than nonholders. Like the general population in the United States, many people with disabilities need long-term financial planning services. The purpose of this study was to examine whether disability type and financial capability are associated with risky asset holding of adults with disabilities. Using data from the 2015 National Financial Capability Study, we found that adults with different types of disabilities have different chances of holding risky assets. After controlling for financial capability, income, and other variables in the logistical model, people who are deaf or have difficulties running errands are more likely, while people with a work disability are less likely, than the mentally disabled to hold risky financial assets. In addition, two financial capability variables, objective financial knowledge, and desirable financial behavior, are positively associated with risky asset holding after controlling for other factors. Several disabilities, financial capability, and other factors showed differences in risky asset holding when lower-income and higher-income subsamples were examined

Actuarial science · Asset (computer security · Business · Financial asset · Financial plan · Population · Work (physics · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Medicine · Retirement, Disability, and Employment · Finance