Disability Type, Financial Capability, and Risky Asset Holding

Jing Jian Xiao, Barbara O’Neill

Research output: Contribution to journalArticlepeer-review

3 Scopus citations

Abstract

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.

Original languageEnglish (US)
Pages (from-to)269-279
Number of pages11
JournalJournal of Disability Policy Studies
Volume32
Issue number4
DOIs
StatePublished - Mar 2022

All Science Journal Classification (ASJC) codes

  • Health(social science)
  • Law

Keywords

  • National Financial Capability Study
  • disability
  • financial capability
  • risky asset holding

Fingerprint

Dive into the research topics of 'Disability Type, Financial Capability, and Risky Asset Holding'. Together they form a unique fingerprint.

Cite this