Association between Financial Risk Tolerance and Locus of Control, Sensation Seeking for Pre-Retiree Baby Boomers

Abstract

Financial risk tolerance is an important concept that helps financial planners recommend financial products to their clients. As the baby boomer generation approaches retirement, research to determine how these individuals perceive financial risk tolerance has grown exponentially. The present study examines the relationship between financial risk tolerance, locus of control, and sensation seeking of the baby boomers.