Loading…
Welcome to the 2018 AFS Annual Meeting, being held this year, in conjunction with FPA in Chicago!

Sign up or log in to bookmark your favorites and sync them to your phone or calendar.

Oral Session [clear filter]
Tuesday, October 2
 

3:30pm

F1a - Charitable Estate Planning Among Donors to Different Types of Charities [CFP Estate Planning]
This study explores whether lifetime donors to different types of charities have varying charitable bequest attitudes. Previous research tells us that bequests are important for charities, and potentially a largely untapped resource for charities, given the disproportionate amount of lifetime donors compared to bequest donors. This paper hypothesizes that among donors to high personal benefit causes, such as those creating shared goods benefiting the donor, interest in a charitable bequest (which offers no opportunity for receiving such benefits) will be relatively less than among donors to low personal benefit causes, except that religious causes are high benefit but donors will express higher interest in charitable estate giving. In order to explore this, each charitable type is categorized as “high personal benefit,” “mixed personal benefit,” and “low personal benefit.”

Author(s): Jennifer Lehman, Russell James

Presenters
avatar for Jennifer Lehman

Jennifer Lehman

Assistant Professor, George Fox University
I received my PhD in personal financial planning at Texas Tech University and am currently enjoying my one year appointment at the University of Utah. Current research is on diversity issues in charitable planning. I have JD and MPA degrees from UNC-Chapel Hill. I love road trips... Read More →


Tuesday October 2, 2018 3:30pm - 4:20pm
Michigan 1A

3:30pm

F1b - Finding the Next Major Donor: The Relationship between Financial Planning Horizon and Charitable Giving [CFP Estate Planning]
Previous research has studied the characteristics associated with the presence and amount of charitable giving. However, few of these studies have explored the relationship between financial planning horizon and philanthropic donations, especially large donations. Using cross-sectional and longitudinal analysis of the Health and Retirement Study data, this paper explores the factors associated with charitable giving over time with a particular focus on identifying the characteristics that predict major donors.  Although practitioners can typically expect future giving to be predicted by past donations, it is important to be able to identify factors indicating the likelihood of an unusually large gift. The study of this paper concludes that American adults who have longer financial planning horizon are more likely to make charitable donations, ceteris paribus. Among donors whose giving exceeds small “social compliance” gifts, major gifts are usually predicted by long-term financial planning horizon, wealth, religious activity frequency, volunteer experience and education.

Author(s): Zhikun Liu, Russell James, III

Presenters
avatar for Zhikun Liu

Zhikun Liu

Research Director, Empower Retirement™


Tuesday October 2, 2018 3:30pm - 4:20pm
Michigan 1A

3:30pm

F2a - Constructing Tax Efficient Withdrawal Strategies for Retirees with Traditional 401(k)/IRAs, Roth 401(k)/IRAs, and Taxable Accounts
We construct an algorithm for United States retirees that computes individualized tax efficient annual withdrawals from IRAs/401(k)s, Roth IRAs/Roth 401(k)s, and taxable accounts. Our algorithm applies a new approach that generates an individualized strategy that results in consistent improvements over non-individualized withdrawal strategies currently advocated by financial institutions and academics. Among other results, we quantiably demonstrate why retirees should avoid, not seek, dividend producing stocks in their taxable accounts. Our model, which can work to optimize either portfolio longevity or the bequest to an heir, accommodates many salient tax code features, including dividends, different taxable lots, conversions, and required minimum distributions.

Author(s): James DiLellio, Daniel Ostrov

Presenters
avatar for James DiLellio

James DiLellio

Associate Professor, Pepperdine University


Tuesday October 2, 2018 3:30pm - 4:20pm
Michigan 1B

3:30pm

F3a - The Role of Materialism in Perceiving Financial Stress
According to the American Psychological Association (2015), nearly three in four Americans recently experienced or currently are experiencing stress about money management issues. Considering money and finance continuously have ranked as the top stressor among the Americans over the past years, it seems quite robust that money closely relates to individuals’ mental health. One of lesser known pieces of financial stress is how it is formed. Paying attention to this path is important because people perceive stress differently even in the same stressful situation. Park, Heo, Ruiz-Menjivar and Grable (2017) found external factors (i.e., social support) could relieve the negative impact of the stressor. However, little has been known about internal factors that are influential. Focusing on materialism, this study aims to identify the role of the personal internal state in shaping financial stress. The results showed that individuals with higher materialistic values perceive higher levels of stress.

Author(s): Narang Park, John E. Grable

Presenters
NP

Narang Park

PhD Student, University of Georgia


Tuesday October 2, 2018 3:30pm - 4:20pm
Michigan 1C

3:30pm

F3b - The Effect of Alimony on Savings Behavior
Alimony, or spousal support is a transfer payment from one divorced spouse to another. Ostensibly, this is to assist in meeting the needs of a dependent spouse during post-divorce life. In general, dependent spouses who receive alimony should have more of an ability to save than those dependent spouses not receiving alimony. Conversely, those paying support may be less likely to save than those supporting spouses not paying support. Using data from the Survey of Consumer Finances, the present research examines whether the presence of alimony is associated with an increased likelihood to save, and whether those paying alimony is associated with a decreased likelihood to save. Results suggest receiving alimony reduces propensity to save, and paying alimony has no effect.

Author(s): Michael Kothakota, Stuart Heckman

Presenters
MK

Michael Kothakota

Student, Kansas State University


Tuesday October 2, 2018 3:30pm - 4:20pm
Michigan 1C
 
Wednesday, October 3
 

10:45am

G2b - Practical Strategies to Enhance Retirement Success Rates in the United States (Base Model)
This study examines the effect of various retirement strategies on the success rates for the U.S. retiree population, assuming potential survival to age 119. The essential study method simulates (a) retirement withdrawal with or without retirement strategies from various households’ assets, and (b) by age 119 if there are any assets remaining. The U.S. Census Bureau’s 2008 Survey of Income and Program Participation Waves 8, 9, 10 and 11, or calendar year 2011, represent the U.S. population. The study compares the success rates by demographic characteristics and socioeconomic cohort groups.

Author(s): Chia-Li Chien

Presenters
avatar for Chia-Li Chien, CFP®, PhD candidate

Chia-Li Chien, CFP®, PhD candidate

Assistant Professor and Director of Financial Planning Program, California Lutheran University and Value Growth Institute
Chia-Li Chien, PhD candidate, CFP®, PMP®; Chia-Li “like JOLLY,” Succession Strategist of Value Growth Institute, dedicated to helping private business owners increase their company equity value. She is the award-winning author of the books Show Me The Money and Work toward Reward... Read More →


Wednesday October 3, 2018 10:45am - 11:45am
Michigan 1B