Financial Responsibility, Personality Traits and Financial Decision ...
Financial Responsibility, Personality Traits and Financial Decision ...
Financial Responsibility, Personality Traits and Financial Decision ...
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- It is hard to find a good financial advisor 1-10<br />
Q: Are your member of a corporate pension fund? yes / no / do not know<br />
Q: Do you read your annual pension statement, that is send to your home address? yes<br />
/ no / do not know<br />
Q: Have you saved for your retirement? yes / no / do not know<br />
Q: if yes, in which way? My own house, Savings account, Investments, Mutual funds,<br />
or Other.<br />
Q: Have you ever computed how much you need to retire? yes / no / do not know<br />
Q: Do you own your home? yes / no / do not know<br />
Q: What is the current loan balance of your mortgage?<br />
Q: How high is your monthly mortgage payment?<br />
Q: What would be the value of your house if you were to sell it today?<br />
Q: Do you plan to fully amortize your mortgage by the end of the mortgage term? yes<br />
/ no / do not know<br />
Q: Are you willing to invest your home equity to finance for your retirement needs? yes<br />
/ no / do not know<br />
Q: When you took your current mortgage, did you gather different mortgage proposals?<br />
yes / no /do not know<br />
Q: What type of mortgage do you have mainly?<br />
Q: Do you have a fixed or floating rate mortgage?<br />
Q: To what extend do you agree with the following:<br />
- I am good in h<strong>and</strong>ling my personal finances 1-10<br />
- I am good at mathematics 1-10<br />
- I keep up with the financial news 1-10<br />
Q: Suppose today you have 100 euros of savings <strong>and</strong> the interest rate on your savings<br />
account at the bank equals 2%. How much money would be in your account after 5<br />
years, if you do not withdraw any money in the meanwhile? More than 102, 102, less<br />
than 102, do not know<br />
Q: Suppose your savings rate at your bank is 1% a year. Suppose also that the inflation<br />
rate is 2% a year. How much could you buy with your money after one year? More,<br />
same, less, do not know<br />
Q: Suppose tomorrow the general interest rate will increase. What will then happen<br />
with the value of bonds? Increase, same, decrease, do not know<br />
Q: Are the following statements correct?<br />
- The monthly payments on a 15 year mortgage are normally higher than on a 30 year<br />
mortgage (of the same loan balance), but the total interest payments are less for the<br />
15 years mortgage. - Investing all your money into stocks of one single firm is normally<br />
less risky than investing in a mutual fund.<br />
33
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