This study uses longitudinal data from the 1994 and 1998 Health and Retirement Survey to examine ... more This study uses longitudinal data from the 1994 and 1998 Health and Retirement Survey to examine factors associated with transition to poverty among respondents aged 55 and older. This time frame is of interest because the Personal Responsibility and Work Opportunity Reconciliation Act (Welfare Reform) became law in 1996. While Welfare Reform targeted working age adults, several provisions directly and indirectly affected public benefit receipt of older individuals. Change in respondents’ participation in Food Stamps, Supplemental Security Income, and Medicaid were examined using a Chi-square test. Results of logistic regression indicate that older individuals who are less educated, female, black and other race, foreign -born, less healthy, unemployed, widowed are more likely to enter poverty.
This analysis compares the balance sheet of the first baby boomer cohort with the balance sheet o... more This analysis compares the balance sheet of the first baby boomer cohort with the balance sheet of those born during the twelve years prior to 1945 in order to contrast changes between 1989 and 2001 for both groups and to compare the financial status of the two groups at the same age using inflation-adjusted dollars. The comparison illustrates differences in investing and borrowing behavior between the cohorts and provides insight into the relative financial strength of boomers as they approach retirement. Mean wealth of older boomers is higher than mean wealth of preboomers at the same age, however median wealth did not change and net worth among lowermiddle wealth groups declined.
No industrialized nation spends more on health care, including those that provide health insuranc... more No industrialized nation spends more on health care, including those that provide health insurance to all citizens (National Coalition on Health Care, 2012). In 2012, the USA spent 42 % more per capita on health care than Norway, the next highest per capita spender, 90 % more than Canada, and 168 % more than the United Kingdom (Organization for Economic Cooperation and Development, 2014). At 24 % of the federal budget in 2014, spending on Medicare, Medicaid, the Children's Health Insurance Program, and Affordable Care Act marketplace subsidies is one and a third times that of military spending and rivals Social Security as the largest sector of the federal budget (Center on Budget and Policy Priorities, 2015). Some argue that spending a relatively high amount on health care is not a problem. It simply refl ects the fact that, as a prosperous nation, we can afford to spend more on health care (Pauly, 2003). The market is meeting the demand for more care, better care, and use of more costly technical equipment for medical diagnosis and treatment. This perspective seems to be in the minority, however (Chernew, Baicker, & Hsu, 2010). Many watching the health care market are uneasy. They foresee growth in health spending continuing to outpace expected GDP growth over the next decade and seriously question the sustainability of such growth (Centers for Medicaid and Medicare Services, 2014 ; Howell, 2014 ; Lave, Hughes-Cromwick, & Getzen, 2012). They watch cautiously to see the ways recent complex and extensive health insurance market reforms will affect costs and care in the health care market. They foresee the demands that 77 million
The U -shaped income-giving profile, where those in the lower and higher income brackets give hig... more The U -shaped income-giving profile, where those in the lower and higher income brackets give higher percentages of their income to charity, has been the subject of much dispute. Examining data from 16,442 households, the authors find clear evidence of a U -shaped relationship. Previous findings contradicting the U -shaped profile are shown to suffer from selection bias that systematically deflates reported lower-income giving levels. Although the U -shaped profile is an appropriate descriptor, it does not reflect typical household behavior. Instead, it is driven almost entirely by the 5% of households that contribute one tenth or more of their after-tax income. Traditionally, the presence of so many highly committed, low-income households has been attributed to religious sect affiliation by the poor. The authors find an additional explanation in that these highly committed, lower-income households are dramatically wealthier than other members of their income classification, in part...
... of conceptual frameworks for the examination of family managerial behavior (Dea-An earlier ve... more ... of conceptual frameworks for the examination of family managerial behavior (Dea-An earlier version of this paper was discussed at the annual meeting of North Cen-tral Region Project 116, Family Resottrce Management, April 20-21, 1982, Columbus, OH. Deanna L. Sharpe is ...
Research concerning the financial well-being of Chinese American households is extremely limited.... more Research concerning the financial well-being of Chinese American households is extremely limited. This article examines factors that affect the probability that Chinese American households will hold debt. Analysis of data from a survey of Chinese Americans in five Midwestern states in the U.S. indicated that 80.5% of the sample households held some type of debt. Factors associated with the probability that a Chinese American household would be a debtor included age, presence of children under 18, health, annual income, and amount of financial and non-financial assets.
Data from the 5-percent Census 2000 Public Use Microdata were utilized to examine the economic st... more Data from the 5-percent Census 2000 Public Use Microdata were utilized to examine the economic status of six Asian-only groups in the United States aged 65 and older. Japanese Americans' economic status emulated that of older Whites; whereas, older Korean and Vietnamese economic status more closely resembled that of older Blacks. Regression results indicated that education, household size, and duration of immigration were significantly and positively related to household income for most of the Asian-only groups, supporting the theory that human capital, structural barriers, and acculturation all play a role in determination of household income for older Asian Americans.
... Milla D. Boschung a , Deanna L. Sharpe b and Mohamed Abdel-Ghany c. ... A plethora of studies... more ... Milla D. Boschung a , Deanna L. Sharpe b and Mohamed Abdel-Ghany c. ... A plethora of studies has examined the effects of race, ethnicity, and/or gender on financial aid awards (Caplan, 1980; Stampen, 1983Stampen, 1985; Baird, 1984; Olivas, 1985; Moran, 1986; McPherson ...
This study used the 1998 Survey of Consumer Finances to examine the relationship between consumer... more This study used the 1998 Survey of Consumer Finances to examine the relationship between consumer debt levels and discretionary retirement savings in IRAs, Keoghs, 401(k)s, 403(b)s, thrift savings and supplemental retirement annuities. Results of a two-stage analysis indicated that installment debt deterred participation in discretionary retirement savings. Among those who had discretionary retirement savings balances, accumulations were significantly lower for those who carried a credit card balance forward and for those who had installment debt.
This commentary recommends that financial counseling and planning research, education, and practi... more This commentary recommends that financial counseling and planning research, education, and practice be framed as an interdisciplinary profession called personal finance. Authors summarize the history of the profession and key theories providing the conceptual foundation. In order for the emerging profession of personal finance to achieve significant visibility and gain maturity, professionals must reach consensus on defining collective scholarship. Readers are encouraged to engage in the dialogue and comment on the call to action by contacting the lead author.
This study used survey data from 554 planners and 128 clients of those planners to examine the re... more This study used survey data from 554 planners and 128 clients of those planners to examine the relationship between specific communication tasks, communication skills, communication topics, and client trust in and commitment to their financial planner and to the financial ...
Despite growth in the numbers of self-employed workers, there is little research on the retiremen... more Despite growth in the numbers of self-employed workers, there is little research on the retirement planning behavior of this group. The purpose of this study was to identify characteristics of selfemployed workers and determine factors that lead to increased savings for retirement. Findings from a survey mailed to a convenience sample indicated the largest amounts of annual savings were in stocks and business equity and the smallest amounts were in Keogh plans. Self-employed workers tended to have larger total retirement savings if they were older, had higher income levels, and had conducted some retirement planning activities.
Journal of Family and Economic Issues, Jun 9, 2010
Data from the 2004 Survey of Economic and Financial Aspects of Aging in Malaysia were analyzed to... more Data from the 2004 Survey of Economic and Financial Aspects of Aging in Malaysia were analyzed to determine factors associated with self-reported health status among older Malaysians. Odds of self-reporting health as bad versus moderate or good were higher for respondents who were in lower income quintiles, who perceived their financial situation as bad, who were older and who were not married. Malay, Chinese, Indian, and Bumiputra ethnic groups had lower odds of perceiving their health to be bad as compared with those in other ethnic groups.
Journal of Family and Economic Issues, Feb 28, 2001
Data from the 1996 Korean Household Panel Study and a double-hurdle model were used to analyze al... more Data from the 1996 Korean Household Panel Study and a double-hurdle model were used to analyze alcohol consumption decisions in Korea. The Korean most likely to consume alcoholic beverages is a young male, and a college graduate. Among those who drink, being older, male, self-employed, or a farm or fishery worker were positively associated, and higher education levels were negatively associated with consumption level. The findings for gender and education were generally similar to those of studies using U.S. or Canadian data on alcohol consumption. The role of household level economic factors, family composition, and residence in alcohol consumption decisions appears to differ across cultures, however.
This study uses longitudinal data from the 1994 and 1998 Health and Retirement Survey to examine ... more This study uses longitudinal data from the 1994 and 1998 Health and Retirement Survey to examine factors associated with transition to poverty among respondents aged 55 and older. This time frame is of interest because the Personal Responsibility and Work Opportunity Reconciliation Act (Welfare Reform) became law in 1996. While Welfare Reform targeted working age adults, several provisions directly and indirectly affected public benefit receipt of older individuals. Change in respondents’ participation in Food Stamps, Supplemental Security Income, and Medicaid were examined using a Chi-square test. Results of logistic regression indicate that older individuals who are less educated, female, black and other race, foreign -born, less healthy, unemployed, widowed are more likely to enter poverty.
This analysis compares the balance sheet of the first baby boomer cohort with the balance sheet o... more This analysis compares the balance sheet of the first baby boomer cohort with the balance sheet of those born during the twelve years prior to 1945 in order to contrast changes between 1989 and 2001 for both groups and to compare the financial status of the two groups at the same age using inflation-adjusted dollars. The comparison illustrates differences in investing and borrowing behavior between the cohorts and provides insight into the relative financial strength of boomers as they approach retirement. Mean wealth of older boomers is higher than mean wealth of preboomers at the same age, however median wealth did not change and net worth among lowermiddle wealth groups declined.
No industrialized nation spends more on health care, including those that provide health insuranc... more No industrialized nation spends more on health care, including those that provide health insurance to all citizens (National Coalition on Health Care, 2012). In 2012, the USA spent 42 % more per capita on health care than Norway, the next highest per capita spender, 90 % more than Canada, and 168 % more than the United Kingdom (Organization for Economic Cooperation and Development, 2014). At 24 % of the federal budget in 2014, spending on Medicare, Medicaid, the Children's Health Insurance Program, and Affordable Care Act marketplace subsidies is one and a third times that of military spending and rivals Social Security as the largest sector of the federal budget (Center on Budget and Policy Priorities, 2015). Some argue that spending a relatively high amount on health care is not a problem. It simply refl ects the fact that, as a prosperous nation, we can afford to spend more on health care (Pauly, 2003). The market is meeting the demand for more care, better care, and use of more costly technical equipment for medical diagnosis and treatment. This perspective seems to be in the minority, however (Chernew, Baicker, & Hsu, 2010). Many watching the health care market are uneasy. They foresee growth in health spending continuing to outpace expected GDP growth over the next decade and seriously question the sustainability of such growth (Centers for Medicaid and Medicare Services, 2014 ; Howell, 2014 ; Lave, Hughes-Cromwick, & Getzen, 2012). They watch cautiously to see the ways recent complex and extensive health insurance market reforms will affect costs and care in the health care market. They foresee the demands that 77 million
The U -shaped income-giving profile, where those in the lower and higher income brackets give hig... more The U -shaped income-giving profile, where those in the lower and higher income brackets give higher percentages of their income to charity, has been the subject of much dispute. Examining data from 16,442 households, the authors find clear evidence of a U -shaped relationship. Previous findings contradicting the U -shaped profile are shown to suffer from selection bias that systematically deflates reported lower-income giving levels. Although the U -shaped profile is an appropriate descriptor, it does not reflect typical household behavior. Instead, it is driven almost entirely by the 5% of households that contribute one tenth or more of their after-tax income. Traditionally, the presence of so many highly committed, low-income households has been attributed to religious sect affiliation by the poor. The authors find an additional explanation in that these highly committed, lower-income households are dramatically wealthier than other members of their income classification, in part...
... of conceptual frameworks for the examination of family managerial behavior (Dea-An earlier ve... more ... of conceptual frameworks for the examination of family managerial behavior (Dea-An earlier version of this paper was discussed at the annual meeting of North Cen-tral Region Project 116, Family Resottrce Management, April 20-21, 1982, Columbus, OH. Deanna L. Sharpe is ...
Research concerning the financial well-being of Chinese American households is extremely limited.... more Research concerning the financial well-being of Chinese American households is extremely limited. This article examines factors that affect the probability that Chinese American households will hold debt. Analysis of data from a survey of Chinese Americans in five Midwestern states in the U.S. indicated that 80.5% of the sample households held some type of debt. Factors associated with the probability that a Chinese American household would be a debtor included age, presence of children under 18, health, annual income, and amount of financial and non-financial assets.
Data from the 5-percent Census 2000 Public Use Microdata were utilized to examine the economic st... more Data from the 5-percent Census 2000 Public Use Microdata were utilized to examine the economic status of six Asian-only groups in the United States aged 65 and older. Japanese Americans' economic status emulated that of older Whites; whereas, older Korean and Vietnamese economic status more closely resembled that of older Blacks. Regression results indicated that education, household size, and duration of immigration were significantly and positively related to household income for most of the Asian-only groups, supporting the theory that human capital, structural barriers, and acculturation all play a role in determination of household income for older Asian Americans.
... Milla D. Boschung a , Deanna L. Sharpe b and Mohamed Abdel-Ghany c. ... A plethora of studies... more ... Milla D. Boschung a , Deanna L. Sharpe b and Mohamed Abdel-Ghany c. ... A plethora of studies has examined the effects of race, ethnicity, and/or gender on financial aid awards (Caplan, 1980; Stampen, 1983Stampen, 1985; Baird, 1984; Olivas, 1985; Moran, 1986; McPherson ...
This study used the 1998 Survey of Consumer Finances to examine the relationship between consumer... more This study used the 1998 Survey of Consumer Finances to examine the relationship between consumer debt levels and discretionary retirement savings in IRAs, Keoghs, 401(k)s, 403(b)s, thrift savings and supplemental retirement annuities. Results of a two-stage analysis indicated that installment debt deterred participation in discretionary retirement savings. Among those who had discretionary retirement savings balances, accumulations were significantly lower for those who carried a credit card balance forward and for those who had installment debt.
This commentary recommends that financial counseling and planning research, education, and practi... more This commentary recommends that financial counseling and planning research, education, and practice be framed as an interdisciplinary profession called personal finance. Authors summarize the history of the profession and key theories providing the conceptual foundation. In order for the emerging profession of personal finance to achieve significant visibility and gain maturity, professionals must reach consensus on defining collective scholarship. Readers are encouraged to engage in the dialogue and comment on the call to action by contacting the lead author.
This study used survey data from 554 planners and 128 clients of those planners to examine the re... more This study used survey data from 554 planners and 128 clients of those planners to examine the relationship between specific communication tasks, communication skills, communication topics, and client trust in and commitment to their financial planner and to the financial ...
Despite growth in the numbers of self-employed workers, there is little research on the retiremen... more Despite growth in the numbers of self-employed workers, there is little research on the retirement planning behavior of this group. The purpose of this study was to identify characteristics of selfemployed workers and determine factors that lead to increased savings for retirement. Findings from a survey mailed to a convenience sample indicated the largest amounts of annual savings were in stocks and business equity and the smallest amounts were in Keogh plans. Self-employed workers tended to have larger total retirement savings if they were older, had higher income levels, and had conducted some retirement planning activities.
Journal of Family and Economic Issues, Jun 9, 2010
Data from the 2004 Survey of Economic and Financial Aspects of Aging in Malaysia were analyzed to... more Data from the 2004 Survey of Economic and Financial Aspects of Aging in Malaysia were analyzed to determine factors associated with self-reported health status among older Malaysians. Odds of self-reporting health as bad versus moderate or good were higher for respondents who were in lower income quintiles, who perceived their financial situation as bad, who were older and who were not married. Malay, Chinese, Indian, and Bumiputra ethnic groups had lower odds of perceiving their health to be bad as compared with those in other ethnic groups.
Journal of Family and Economic Issues, Feb 28, 2001
Data from the 1996 Korean Household Panel Study and a double-hurdle model were used to analyze al... more Data from the 1996 Korean Household Panel Study and a double-hurdle model were used to analyze alcohol consumption decisions in Korea. The Korean most likely to consume alcoholic beverages is a young male, and a college graduate. Among those who drink, being older, male, self-employed, or a farm or fishery worker were positively associated, and higher education levels were negatively associated with consumption level. The findings for gender and education were generally similar to those of studies using U.S. or Canadian data on alcohol consumption. The role of household level economic factors, family composition, and residence in alcohol consumption decisions appears to differ across cultures, however.
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Papers by Deanna Sharpe