Subjective Life Horizon and Portfolio Choice

Preprint OPEN
Spaenjers , Christophe; Spira, Sven Michael;
  • Subject: portfolio choice; investment horizon; subjective expectations; life expectancy; bequests
    • jel: jel:D14 | jel:G11 | jel:D12 | jel:D80 | jel:D91
    mesheuropmc: education | humanities | health care economics and organizations

Using data from a U.S. household survey, we examine the empirical relation between subjective life horizon (i.e., the self-reported expectation of remaining life span) and portfolio choice. We find that equity portfolio shares are higher for investors with longer horizo... View more
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