Gender and risk-bearing portfolio choices among older single workers: The role of human capital

Using data from the 2012 Health and Retirement Study, this study examined whether gender was associated with risk bearing in portfolio choices among single workers nearing retirement. Also, the study investigated how human capital was associated with the worker's allocation of risk-bearing assets by gender. The results of logistic regression revealed that while gender was statistically significant, education level was also a significant predictor of holding risky assets. Since differences in human capital explained the difference in portfolio choices for male and female workers, financial educators should consider this finding as they attempt to help the least financially savvy populations with financial education programs.