Lee and Hanna (1995). Investment Portfolios and Human Wealth, Financial Counseling and Planning Journal

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: ktlfriend@yahoo.com


Professor, Consumer Sciences Department Department, The Ohio
State University, 1787 Neil Ave., Columbus, OH 43210. Phone: (614) 292-4584. 
Email: hanna.1@osu.edu

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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