Investment Portfolios and Human Wealth
Financial Counseling and Planning, 1995, Volume 6, pp. 147-152.
Hye Kyung Lee
At the time of publication, Post-Doctoral Researcher, College of Human Ecology,
The Ohio State University, 1787 Neil Ave., Columbus, OH 43210. Email
as of 2002: firstname.lastname@example.org
The optimal proportion of a household’s investment portfolio that should
be in risky assets such as stocks depends on what proportion of total wealth,
including human wealth, the investment portfolio represents. This article
estimates the total wealth of households in the U.S. Survey of Consumer Finances,
and finds that financial assets represent less than 2% of the total wealth
of most households. Only the elderly are likely to have investment portfolios
representing a high
proportion of total wealth.
KEY WORDS: household portfolios, investment, risk, wealth, stocks, Survey
of Consumer Finance
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