question;answer
Decision 1: Would you prefer Option A or Option B: Option A: There is a 1 in 10 chance that you will earn $2.00 and a 9 in 10 chance that you will earn $1.60 Option B: There is a 1 in 10 chance that you will earn $3.85 and a 9 in 10 chance that you will earn $0.10;79.59% of people chose Option A and 11.20% chose Option B.
Decision 2: Would you prefer Option A or Option B: Option A: There is a 2 in 10 chance that you will earn $2.00 and a 8 in 10 chance that you will earn $1.60 Option B: There is a 2 in 10 chance that you will earn $3.85 and a 8 in 10 chance that you will earn $0.10;80.81% of people chose Option A and 10.97% chose Option B.
Decision 3: Would you prefer Option A or Option B: Option A: There is a 3 in 10 chance that you will earn $2.00 and a 7 in 10 chance that you will earn $1.60 Option B: There is a 3 in 10 chance that you will earn $3.85 and a 7 in 10 chance that you will earn $0.10;78.28% of people chose Option A and 13.12% chose Option B.
Decision 4: Would you prefer Option A or Option B: Option A: There is a 4 in 10 chance that you will earn $2.00 and a 6 in 10 chance that you will earn $1.60 Option B: There is a 4 in 10 chance that you will earn $3.85 and a 6 in 10 chance that you will earn $0.10;71.30% of people chose Option A and 19.88% chose Option B.
Decision 5: Would you prefer Option A or Option B: BR / Option A: There is a 5 in 10 chance that you will earn $2.00 and a 5 in 10 chance that you will earn $1.60BR / Option B: There is a 5 in 10 chance that you will earn $3.85 and a 5 in 10 chance that you will earn $0.10;54.72% of people chose Option A and 36.68% chose Option B.
Decision 6: Would you prefer Option A or Option B: Option A: There is a 6 in 10 chance that you will earn $2.00 and a 4 in 10 chance that you will earn $1.60 Option B: There is a 6 in 10 chance that you will earn $3.85 and a 4 in 10 chance that you will earn $0.10;42.52% of people chose Option A and 49.35% chose Option B.
Decision 7: Would you prefer Option A or Option B: Option A: There is a 7 in 10 chance that you will earn $2.00 and a 3 in 10 chance that you will earn $1.60 Option B: There is a 7 in 10 chance that you will earn $3.85 and a 3 in 10 chance that you will earn $0.10;27.55% of people chose Option A and 64.39% chose Option B.
Decision 8: Would you prefer Option A or Option B: Option A: There is a 8 in 10 chance that you will earn $2.00 and a 2 in 10 chance that you will earn $1.60 Option B: There is a 8 in 10 chance that you will earn $3.85 and a 2 in 10 chance that you will earn $0.10;18.88% of people chose Option A and 73.98% chose Option B.
Decision 9: Would you prefer Option A or Option B: Option A: There is a 9 in 10 chance that you will earn $2.00 and a 1 in 10 chance that you will earn $1.60 Option B: There is a 9 in 10 chance that you will earn $3.85 and a 1 in 10 chance that you will earn $0.10;11.82% of people chose Option A and 80.28% chose Option B.
Decision 10: Would you prefer Option A or Option B: Option A: There is a 10 in 10 chance that you will earn $2.00 and a 0 in 10 chance that you will earn $1.60 Option B: There is a 10 in 10 chance that you will earn $3.85 and a 0 in 10 chance that you will earn $0.10;5.60% of people chose Option A and 87.34% chose Option B.
Please choose between the following two options. Option A: A 50-50 lottery of winning $8 or losing $5. Option B: 100% chance of zero dollars Enumerated: 1 Option A 2 Option B;60.00% of people chose Option A and 40.00% chose Option B.
Please choose between the following two options. Option A: Play the lottery in Option A six times. 50-50 chance of winning $8 or losing $5. Option B: 100% chance of zero dollars. Enumerated: 1 Option A 2 Option B;57.14% of people chose Option A and 42.86% chose Option B.
Choose between: A. Winning $100 B. A 50% chance of losing $300 and a 50% chance of winning $700. Enumerated: 1 A 2 B;70.03% of people chose Option A and 29.26% chose Option B.
Now imagine you have a choice between the following two options. Option A: A lottery with a 50% chance of winning $80 and a 50% chance of losing $50. Option B: Zero dollars. Which option would you choose;51.07% of people chose Option A and 48.52% chose Option B.
Now imagine you have a choice between the following two options. Option A: Play the lottery from the previous question (50% chance of winning $80 and 50% chance of losing $50) six times Option B: Zero dollars. Which option would you choose Enumerated: 1 Option A 2 Option B;50.76% of people chose Option A and 48.83% chose Option B.
Choose between: A: Winning $850 B: A 50% chance of winning $100 and a 50% chance of winning $1600;73.63% of people chose Option A and 25.97% chose Option B.
Choose between: C. Losing $650 D. A 50% chance of losing $1550 and a 50% chance of winning $100 Enumerated: 1 C 2 D;66.40% of people chose Option C and 32.99% chose Option D.
Now suppose you are offered a different set of options for your retirement savings plan. uOption 1/u An investment portfolio that guarantees that you will have a plan balance that will provide half the annual income you have now for every year in retirement. uOption 2/u An investment portfolio that has a 50 percent chance of a high plan balance that will provide your current annual income for every year in retirement and a 50 percent chance of a low plan balance that will provide 2/5 of your current annual income for every year in retirement. Would you prefer Option 1 or Option 2? Enumerated: 1 Option 1 investment portfolio that provides half my current annual income for every year in retirement. 2 Option 2 investment portfolio with a 50 percent chance of providing my current annual income for every year in retirement and a 50 percent chance of providing 2/5 of my current annual income for every year in retirement.;73.34% of people chose Option 1 which provides half of their current annual income for every year in retirement and 26.61% chose Option 2 which offers a 50% chance of providing their current annual income and a 50% chance of providing 2/5 of their current annual income for every year in retirement.
Now suppose you are offered yet another different set of options for your retirement savings plan uOption 1/u An investment portfolio that quarantees that you will have a plan balance that will provide half the annual income you have now for every year in retirement. uOption 2/u An investment portfolio that has a 50 percent chance of a high plan balance that will provide your current annual income for every year in retirement and a 50 percent chance of a low plan balance that will provide 9/20 of your current annual income for every year in retirement. Would you prefer Option 1 or Option 27 Enumerated: 1 Option 1 investment portfolio that provides half my current annual income for every year in retirement. 2 Option 2 investment portfolio with a 50 percent chance of providing my current annual income for every year in retirement and a 50 percent chance of providing 9/20 of my current annual income for every year in retirement.;68.63% of people chose Option 1 which provides half of their current annual income for every year in retirement and 31.37% chose Option 2 which has a 50 percent chance of providing their current annual income and a 50 percent chance of providing 9/20 of their current annual income for every year in retirement.
Now suppose you are offered a different set of options: uOption 1/u An investment portfolio that guarantees that you will have a plan balance that will provide half the annual income you have now for every year in retirement. uOption 2/u An investment portfolio that has a 50 percent chance of a high plan balance that will provide your current annual income for every year in retirement and a 50 percent chance of a low plan balance that will provide 1/4 of your current annual income for every year in retirement. Would you prefer Option I or Option 2 Enumerated: 1 Option 1 investment portfolio that provides half my current annual income for every year in retirement. 2 Option 2 investment portfolio with a 50 percent chance of providing my current annual income for every year in retirement and a 50 percent chance of providing 1/4 of my current annual income for every year in retirement...;63.09% of people chose Option 1 which provides half of their current annual income for every year in retiremen and 36.57% chose Option 2 which has a 50 percent chance of providing their current annual income and a 50 percent chance of providing 1/4 of their current annual income for every year in retirement.
Now suppose you are offered yet another different set of options: Option 1/u An investment portfolio that guarantees that you will have a plan balance that will provide half the annual income you have now for every year in retirement. Option 2/u An investment portfolio that has a 50 percent chance of a high plan balance that will provide your current annual income for every year in retirement and a 50 percent chance of a low plan balance that will provide 1/8 of your current annual income for every year in retirement. Would you prefer Option 1 or Option 2 Enumerated: 1 Option 1 investment portfolio that provides half my current annual income for every year in retirement. 2 Option 2 investment portfolio with a 50 percent chance of providing my current annual income for every year in retirement and a 50 percent chance of providing 1/8 of my current annual income for every year in retirement.;51.67% of people chose Option 1 which provides half of their current annual income for every year in retirement and 48.33% chose Option 2 which has a 50 percent chance of providing their current annual income and a 50 percent chance of providing 1/8 of their current annual income for every year in retirement.
I think it is more important to have safe investments and guaranteed returns than to take a risk to have a chance to get the highest possible returns. 1=completely agree 2= Strong agreement 3= agree 4= neutral 5= disagree 6= strong disagreement 7= completely disagree;For the statement on safe investments 2.56% completely disagree 6.13% chose 6 12.37% chose 5 22.03% chose 4 19.39% chose 3 15.94% chose 2 and 21.22% completely agree.
"""I would never consider investing in the stock market because I find it too risky. 1= completely agree and 2= Strong agreement and 3= agree and 4= neutral and 5= disagree and 6= strong disagreement and 7= completely disagree""";"""26.13% of respondents completely disagree 17.16% rated it a 6 and 14.32% a 5 and 18.46% a 4 and 7.99% a 3 and 7.14% a 2 and 8.48% completely agree."""
"""If I think an investment will be profitable I am prepared to borrow money to make this investment. 1= completely agree and 2= Strong agreement and 3= agree and 4= neutral and 5= disagree and 6= strong disagreement and 7= completely disagree""";"""39.72% of respondents completely disagree and 20.93% rated it a 6 and 11.12% a 5 and 12.90% a 4 and 6.65% a 3 and 4.75% a 2 and 3.53% completely agree."""
I want to be certain that my investments are safe. 1= completely agree and 2= Strong agreement and 3= agree and 4= neutral and 5= disagree and 6= strong disagreement and 7= completely disagree;1.87% of respondents completely disagree with the statement regarding safe investments 2.68% rated it a 6 and 7.30% a 5 and 14.24% a 4 and 17.24% a 3 and 22.07% a 2 and and 34.28% completely agree.
I think I should take greater financial risks to improve my financial position. 1= completely agree and 2= Strong agreement and 3= agree and 4= neutral and 5= disagree and 6= strong disagreement and 7= completely disagree;19.43% of respondents completely disagree and 20.81% rated it a 6 and 16.88% a 5 and 20.73% a 4 and 13.43% a 3 and 5.64% a 2 and 2.76% completely agree with the statement on safe investments.
Imagine you were asked to choose between Enumerated: 1 A. Winning $1500 2 B. Winning $1000 if a coin comes up heads and winning $2100 if a coin comes up tails;59.39% of people chose the option of winning $1500 and 40.33% chose the option of winning $1000 if a coin comes up heads and winning $2100 if a coin comes up tails.
Imagine you were asked to choose between Enumerated: 1 C. Losing $500 2 D. Losing $1000 if a coin comes up heads and not winning or losing money if a coin comes up tails;70.84% of people chose the option of losing $500 and 28.60% chose the option of losing $1000 if a coin comes up heads and not winning or losing any money if a coin comes up tails.
Now we would like to ask about some financial decisions in a couple of different situations. First suppose you are sure that your overall income and spending next year will be exactly the same as this year and that there will be no inflation. When you go to make a necessary purchase you have the choice between paying two hundred dollars now or a larger amount a year from now. Would you prefer to pay $200 now or $210 a year from now? Respondent data Enumerated: 1 $200 now 2 $210 one year from now;83.30% of people chose to receive $200 now and 15.70% chose to receive $210 one year from now.
Now we would like to ask about some financial decisions in a couple of different situations. First suppose you are sure that your overall income and spending next year will be exactly the same as this year and that there will be no inflation. When you go to make a necessary purchase you have the choice between paying two hundred dollars now or a larger amount a year from now. Would you prefer to pay $200 now or $220 a year from now?;56.25% of people chose to receive $200 now and 43.75% chose to receive $220 one year from now.
Now we would like to ask about some financial decisions in a couple of different situations. First suppose you are sure that your overall income and spending next year will be exactly the same as this year and that there will be no inflation. When you go to make a necessary purchase you have the choice between paying two hundred dollars now or a larger amount a year from now. Would you prefer to pay $200 now or $250 a year from now?;73.08% of people chose to receive $200 now and 26.92% chose to receive $250 one year from now.
In the second situation suppose an established business has hired you with a start date a little less than a year from now. This employer values your skills st highly that as soon as you start the new job your family income will double and you plan to double your family spending as well. You cannot increase your total spending now because you cannot do any more borrowing than you now plan. It is necessary for you to make a purchase now before the new job starts. You are given the choice between paying $200 now which would require you to reduce other expenditures or you can pay a larger amount twelve months from now after your income and spending double. Would you prefer to pay $200 now or $250 a year from now after your income doubles Enumerated: 1 $200 now 2 $250 one year from now;50.36% of people chose to receive $200 now and 48.92% chose to receive $250 one year from now.
In the second situation suppose an established business has hired you with a start date a little less than a year from now. This employer values your skills so highly that as soon as you start the new job your family income will double and you plan to double your family spending as well. You cannot increase your total spending now because you cannot do any more borrowing than you now plan. It is necessary for you to make a purchase now before the new job starts. You are given the choice between paying $200 now which would require you to reduce other expenditures or you can pay a larger amount twelve months from now after your income and spending double. Would you prefer to pay $200 now or $300 a year from now after your income doubles?;46.41% of people chose to receive $200 now and 53.58% chose to receive $300 one year from now.
In the second situation suppose an established business has hired you with a start date a little less than a year from now. This employer values your skills so highly that as soon as you start the new job your family income will double and you plan to double your family spending as well. You cannot increase your total spending now because you cannot do any more borrowing than you now plan. It is necessary for you to make a purchase now before the new job starts. You are given the choice between paying $200 now which would require you to reduce other expenditures or you can pay a larger amount twelve months from now after your income and spending double. Would you prefer to pay $200 now or $400 a year from now after your income doubles?;67.44% of people chose to receive $200 now and 32.55% chose to receive $400 one year from now.
Imagine you just won a lottery prize and have to choose now between one payment. Which would you choose? Enumerated: 1 $1000 today 2 $1250 a year from today;64.76% of people chose the option of receiving $1000 today and 34.87% chose the option of receiving $1250 a year from today.
Imagine you just won a lottery prize and have to choose now between one of two options for receiving your payment. Which would you choose? Enumerated: 1 $1000 today 2 $1650 a year from today;50.10% of people chose the option of receiving $1000 today and 49.80% chose the option of receiving $1650 a year from today.
Imagine you just won a lottery prize and have to choose now between one of two options for receiving your payment. What if instead the choice were between these two options which would you choose? Enumerated: 1 $1000 today 2 $1100 a year from today;50.24% of people chose the option of receiving $1000 today and 49.57% chose the option of receiving $1100 a year from today.
Imagine you just won a lottery prize and have to choose now between one of two options for receiving your payment. Which would you choose? Enumerated: 1 $1000 a year from today 2 $1250 two years from today;76.73% of people chose the option of receiving $1000 a year from today and 22.87% chose the option of receiving $1250 two years from today.
Imagine you just won a lottery prize and have to choose now between one of two options for receiving your payment. What if instead the choice were between these two options which would you choose? Enumerated: 1 $1000 a year from today 2 $1650 two years from today;56.99% of people chose the option of receiving $1000 a year from today and 43.01% chose the option of receiving $1650 two years from today.
Imagine you just won a lottery prize and have to choose now between one of two options for receiving your payment. What if instead the choice were between these two options which would you choose? Enumerated: 1 $1000 a year from today 2 $1100 two years from today;65.36% of people chose the option of receiving $1000 a year from today and 34.35% chose the option of receiving $1100 two years from today.
Suppose that from now on you never kept track of your household's spending and never set budget targets. Do you think your household spending would be higher lower or the same as now? Enumerated: 1 Higher 2 Lower 3 Same;53.80% of responses indicated 'Higher'and  3.93% indicated 'Lower' and 40.99% indicated 'Same' in the context of never keeping track.
Now we would like to ask about some financial decisions in a couple of different situations. First suppose you are sure that your overall income and spending next year will be exactly the same as this year and that there will be no inflation. When you go to make a necessary purchase you have the choice between paying two hundred dollars now or a larger amount a year from now. Would you prefer to pay $200 now or $210 a year from now? Enumerated: 1 $200 now 2 $210 one year from now;83.30% of people chose to receive $200 now and 15.70% chose to receive $210 one year from now.
Would you prefer to pay $200 now or $220 a year from now? Enumerated: 1 $200 now 2 $220 one year from now;8.94% of people chose to receive $200 now and 6.95% chose to receive $220 one year from now.
In the second situation suppose an established business has hired you with start date a little less than a year from now. This employer values your skills so highly that as soon as you start the new job your family income will double and you plan to double your family spending as well. You cannot increase your total spending now because you cannot do any more borrowing than you now plan. It is necessary for you to make a purchase now before the new job starts. You are given the choice between paying $200 now which would require you to reduce other expenditures or you can pay a larger amount twelve months from now after your income and spending double. Would you prefer to pay $200 now or $250 a year from now after your income doubles Enumerated: 1 $200 now 2 $250 one year from now;50.36% of people chose to receive $200 now and 48.92% chose to receive $250 one year from now.
In the second situation suppose an established business has hired you with start date a little less than a year from now. This employer values your skills so highly that as soon as you start the new job your family income will double and you plan to double your family spending as well. You cannot increase your total spending now because you cannot do any more borrowing than you now plan. It is necessary for you to make a purchase now before the new job starts.  Would you prefer to pay $200 now or $300 a year from now after your income doubles? Enumerated: 1 $200 now 2 $300 one year from now;22.11% of people chose to receive $200 now and 26.99% chose to receive $300 one year from now.
In the second situation suppose an established business has hired you with start date a little less than a year from now. This employer values your skills so highly that as soon as you start the new job your family income will double and you plan to double your family spending as well. You cannot increase your total spending now because you cannot do any more borrowing than you now plan. It is necessary for you to make a purchase now before the new job starts. Would you prefer to pay $200 now or $400 a year from now after your income doubles?;18.14% of people chose to receive $200 now and 8.75% chose to receive $400 one year from now.
Have you set aside emergency or rainy day funds that would cover your expenses for 3 months in case of sickness job loss economic downturn or other emergencies? Enumerated: 1 Yes 2 No 98 Don't know 99 Prefer not to say;41.65% of respondents have emergency funds 55.11% do not have emergency funds 2.04% do not know and 1.20% prefer not to say.
Have you ever tried to figure out how much you need to save for retirement?  Enumerated: 1 Yes 2 No 98 Don't know 99 Prefer not to say;42.07% of respondents acknowledge the need to save for retirement 54.43% do not feel the need to save for retirement 2.68% do not know and 0.81% prefer not to say.
Now we have another kind of question. Suppose that you are the only income earner in the family. Your doctor recommends that you move because of allergies and you have to choose between two possible jobs. The first would guarantee your current total family income for life. The second is possibly better paying but the income is also less certain. There is a 50% chance the second job would double your current total family income for life and a 50% chance that it would cut it by a third. Which job would you take the first job or the second Job?;74.23% of the responses were for the first job 25.23% for the second job and there were 0.53% missing responses.
Suppose the first job would still guarantee your current total family income for life. Now there is a 50% chance that the second job would double your current total family income for life and 50% that it would cut it by twenty percent. Which job would you take the first job or the second job? Enumerated: 1 The first job 2 The second job;63.46% of the responses were for the first job and 36.54% for the second job.
Suppose next year you were to find your household with 20% more income than normal what would you do with the extra income? Enumerated: 1 Save all of it 2 Spend some and save some 3 Spend all of it;8.85% of respondents would save all of an income that is 20% more than normal 78.83% would spend some and save some 10.40% would spend all of it and 1.92% did not provide a response.
Suppose next year you were to find your household with 20% more income than normal. What fraction of the extra income would you save or invest? Enumerated: 1 Less than 50 percent 2 About 50 percent 3 More than 50 percent;19.54% of respondents save or invest less than 50% of their income and 39.90% save or invest about 50% of their income and 19.25% save or invest more than 50% of their income. Additionally there are 21.31% of responses missing.
The first job would guarantee your current total family income for life. Suppose there is a 50-50 chance the second job would double your total lifetime income and a 50-50 chance that it would cut it by a third. Which job would you take? Enumerated: 1 First job: Guarantee your family income for life 2 Second job: 50-50 chance of doubling income or cutting it by a third;35.82% of respondents prefer the first job which guarantees their family income for life and 10.87% prefer the second job which has a 50-50 chance of doubling the income or cutting it by a third. There are also 53.31% of missing responses.
The first job would guarantee your current total family income for life. Now suppose there is 50-50 chance that the second job would double your lifetime income and 50-50 that it would cut it in half. Would you take the first job or the second job Enumerated: 1 First job: Guarantee your family income for life 2 Second job: 50-50 chance of doubling income or cutting it in half;6.08% of respondents would choose the first job which guarantees their family income for life and 4.79% would choose the second job which offers a 50-50 chance of doubling their income or cutting it in half. There are 89.13% of responses missing.
The first job would guarantee your current total family income for life. Now suppose the chances were 50-50 that the second job would double your lifetime income and 50-50 that it would cut it by seventy-five percent. Would you take the first job or the second job? Enumerated: 1 First job: Guarantee your family income for life 2 Second job: 50-50 chance of doubling income or cutting it by 75 percent;3.50% of respondents would choose the first job which guarantees their family income for life and 1.20% would choose the second job which offers a 50-50 chance of doubling their income or cutting it by 75%. There are 95.3% of responses missing.
The first job would guarantee your current total family income for life. Now suppose the chances were 50-50 that the second job would double your lifetime income and 50-50 that it would cut it by twenty percent. Would you take the first job or the second job? Enumerated: 1 First job: Guarantee your family income for life 2 Second job: 50-50 chance of doubling income or cutting it by 20 percent;25.78% of respondents would choose the first job which guarantees their family income for life and 9.94% would choose the second job which offers a 50-50 chance of doubling their income or cutting it by 20%. There are 64.27% of responses missing.
Suppose that from now on you never kept track of your household's spending and never set budget targets. Do you think your household spending would be higher lower or the same as now? Enumerated: 1 Higher 2 Lower 3 Same;"53.80% of respondents indicated that their income is ""Higher"" when they don't keep track. 3.93% of respondents said their income is ""Lower"" when they don't keep track. 40.99% of respondents reported that their income is ""Same"" when they don't keep track."
Imagine you have a job with a defined contribution retirement plan (for example a 401(k) plan). Imagine you have decided to set up a retirement account and make contributions to it out of your gross wage. You now must decide how your money is allocated between stocks and bonds. Your retirement benefit depends on the returns on the money invested in your retirement account. You can opt for a standard allocation profile (45% stocks-55% bonds). However you can ask your employer to change the allocation so that you can have a safe allocation profile (30% stocks-70% bonds) or a very safe allocation profile (15% stocks-85% bonds). Which allocation would you choose for the money invested in your retirement account? Enumerated: 1 Standard allocation profile OR Very safe allocation profile 2 Safe allocation profile 3 Very safe allocation profile OR Standard allocation profile 98 I don't want to say 99 I don't know;"10.96% of respondents prefer either a ""Standard allocation profile"" or a ""Very safe allocation profile."" 9.99% of respondents prefer a ""Safe allocation profile.""9.41% of respondents prefer either a ""Very safe allocation profile"" or a ""Standard allocation profile."" 0.68% of respondents chose ""I don't want to say."" 2.91% of respondents answered ""I don't know."""
Imagine you have a job with a defined contribution retirement plan (for example a 401(k) plan). You must decide what percentage of your gross wage you want to put into your retirement account that is what your preferred contribution rate is. The standard contribution rate that you pay is 7% of your gross wage. However you can also opt for a very high contribution rate (11%) or a high contribution rate (9%) or a low contribution rate (5%) or a very low contribution rate (3%). Regardless of this choice your employer pays an amount equal to 3% of your gross wage into your retirement account. Which contribution rate would you choose for your retirement account? Enumerated: 1 Very high contribution rate 2 High contribution rate 3 Standard contribution rate 4 Low contribution rate 5 Very low contribution rate 98 I don't want to say 99 I don't know;"7.18% of respondents prefer a ""Very high contribution rate."" 8.54% of respondents prefer a ""High contribution rate."" 12.12% of respondents prefer a ""Standard contribution rate."" 8.05% of respondents prefer a ""Low contribution rate."" 9.12% of respondents prefer a ""Very low contribution rate."" 0.58% of respondents chose ""I don't want to say."" 2.81% of respondents answered ""I don't know."" There are 51.6% of responses missing in this category."
Imagine you have a job with a defined contribution retirement plan (for example a 401(k) plan). You must decide what percentage of your gross wage you want to put into your retirement account that is what your preferred contribution rate is. The standard contribution rate that you pay is 7% of your gross wage. However you can also opt for a high contribution rate (9%) or a low contribution rate (5%). Regardless of this choice your employer pays an amount equal to 3% of your gross wage into your retirement account. Which contribution rate would you choose for your retirement account? Enumerated: 1 5% OR 9% 2 7% 3 9% OR 5% 98 I don't want to say 99 I don't know;"15.23% of respondents prefer a contribution rate of ""5% OR 9%."" 14.84% of respondents prefer a  rate of ""7%."" 16.00% of respondents prefer a contribution rate of ""9% OR 5%."" 1.16% of respondents chose ""I don't want to say."" 3.88% of respondents answered ""I don't know."" There are 48.88% of responses missing in this category."
Imagine you have a job with a defined contribution retirement plan (for example a 401(k) plan). You must decide what percentage of your gross wage you want to put into your retirement account that is what your preferred contribution rate is. The standard contribution rate that you pay is 7% of your gross wage. However you can also opt for a very high contribution rate (11%) or a high contribution rate (9%) or a low contribution rate (5%) or a very low contribution rate (3%). Regardless of this choice your employer pays an amount equal to 3% of your gross wage into your retirement account. Which contribution rate would you choose for your retirement account? Enumerated: 1 3% OR 11% 2 5% OR 9% 3 7% 4 9% OR 5% 5 11% OR 3% 98 I don't want to say 99 I don't know;"7.86% of respondents prefer a contribution rate of ""3% OR 11%."" 7.27% of respondents prefer a contribution rate of ""5% OR 9%."" 13.48% of respondents prefer a contribution rate of ""7%."" 7.95% of respondents prefer a contribution rate of ""9% OR 5%."" 7.57% of respondents prefer a contribution rate of ""11% OR 3%."" 1.07% of respondents chose ""I don't want to say."" 3.20% of respondents answered ""I don't know."" There are 51.60% of responses missing in this category."
Would you prefer to receive $100 today or $105 one year from now? Enumerated: 1 $100 today 2 $105 one year from now;"84.92% of respondents prefer to receive ""$100 today."" 9.10% of respondents prefer to receive ""$105 one year from now."" There are 5.98% of responses missing in this category."
Would you prefer to receive $100 10 years from now or $105 11 years from now? Enumerated: 1 $100 10 years from now 2 $105 11 years from now;"87.18% of respondents prefer to receive ""$100 10 years from now."" 9.45% of respondents prefer to receive ""$105 11 years from now."" There are 3.38% of responses missing in this category."
How much have you thought about retirement? Enumerated: 1 A lot 2 Some 3 A little 4 Hardly at all;" 39.22% of respondents thought about retirement ""A lot."" 45.04% of respondents thought about retirement ""Some."" 9.69% of respondents thought about retirement ""A little."" 6.04% of respondents thought about retirement ""Hardly at all."""
 Before you told us that you've tried to determine your financial needs during retirement. How much did you decide that you will need? Please indicate either as a total amount of wealth or an amount needed per month or year. Please provide only one answer. Enumerated: 1 As a total amount of wealth needed upon retirement: 2 As an amount of money per month: 3 As an amount of money per year: $Answer4$ 4 I haven't been able to come up with a number. 5 Don't know; 15.63% of respondents view their retirement savings target as a total amount of wealth needed upon retirement. 44.49% of respondents view their retirement savings target as an amount of money per month. 16.23% of respondents view their retirement savings target as an amount of money per year.- 18.64% of respondents haven't been able to come up with a specific number for their retirement savings target. 4.21% of respondents don't know how to view their retirement savings target.
Suppose you had $100 in a savings account and the interest rate was 2% per year. After 5 years how much do you think you would have in the account if you left the money to grow: more than $102 or exactly $102 or less than $102? Enumerated: 1 More than $102 2 Exactly $102 3 Less than $102 4 I don't know;91.55% of respondents expect the price of the item to be more than $102. 3.16% of respondents expect the price to be exactly $102. 3.16% of respondents expect the price to be less than $102. 1.96% of respondents don't know what the price will be. 0.17% of respondents did not provide a response.
Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year would you be able to buy more than exactly the same as or less than today with the money in this account? Enumerated: 1 More than today 2 Exactly the same as today 3 Less than today 4 I don't know;88.81% of respondents believe that inflation will be less than today. 4.61% of respondents believe that inflation will be exactly the same as today. 1.62% of respondents believe that inflation will be more than today. 4.61% of respondents don't know what inflation will be. 0.34% of respondents did not provide a response.
Suppose that in the year 2010 your income has doubled and prices of all goods have doubled too. In 2010 will you be able to buy more the same or less than today with your income? Enumerated: 1 Buy more than today 2 Buy the same as today 3 Buy less than today 4 I don't know;78.82% of respondents believe that the amount they can buy will be the same as today. 15.37% of respondents believe that they will be able to buy less than today. 3.93% of respondents believe that they will be able to buy more than today. 1.54% of respondents don't know what the future holds in terms of what they can buy. 0.34% of respondents did not provide a response.
Consider the following scenario: Jack and Jill are twins. At the age of 20 Jack started contributing $20 a month to a savings account. After 20 years at the age of 40 he stopped adding to his savings but he left the money in the account. Jill didn't start to save until she was 40. Then she saved $20 a month until she retired 20 years later at age 60. Suppose both Jack and Jill earned 6% interest per year on their savings. When they both retired at age 60 who had more money? Enumerated: 1 Jack 2 Jill 3 They had the same amount 4 Don't know;70.79% of respondents believe that Jack will earn more money over time. 2.75% of respondents believe that Jill will earn more money over time. 19.48% of respondents believe that Jack and Jill will have the same amount of money. 6.84% of respondents don't know how their earnings will change over time. 0.14% of respondents did not provide a response.
Pam is deciding between 2 options: uOption A:/u - Invest $1000 in a certificate of deposit that earns 5% interest. - Pam would not add or remove any money from this investment for the next 30 years. uOption B:/u - Invest $1000 in a savings account that earns 5% interest.- Move the interest earned on this account every year into a safe at home.- Pam would not add or remove any other money from the savings account or the safe for the next 30 years. At the end of 30 years which of these options would provide the most money? Enumerated: 1 Option A 2 Option B 3 Pam will have the same amount of money at the end of 30 years regardless of whether she chooses Option A or Option B. 4 Don't know;78.59% of respondents prefer Option A. 5.60% of respondents prefer Option B. 7.46% of respondents believe that Pam will have the same amount of money at the end of 30 years regardless of the option chosen. 8.21% of respondents don't know which option to choose. 0.14% of respondents did not provide a response.
 Suppose that by the year 2020 your income has doubled and prices of all goods have doubled too. In 2020 how much will you be able to buy with your 2020 income? Enumerated: 1 More than today 2 The same amount as today 3 Less than today 4 Don't know;3.75% of respondents believe that inflation will be more than today. 79.44% of respondents believe that inflation will be the same as today. 13.78% of respondents believe that inflation will be less than today. 2.96% of respondents don't know the future inflation rate. 0.07% of respondents did not provide a response.
Rita must choose between two job offers. She wants to select the job with a salary that will afford her the higher standard of living for the next few years. Job A offers a 3% raise every year while Job B will not provide a raise for the next few years. If Rita chooses Job A she will live in City A. If Rita chooses Job B she will live in City B. Rita finds that the price of goods and services today are about the same in both areas. Prices are expected to rise however by 4% in City A every year and stay the same in City B. Based on her concerns about standard of living what should Rita do? Enumerated: 1 Take Job A 2 Take Job B 3 Take either one: she will be able to afford the same future standard of living in both places 4 Don't know;10.28% of respondents would take Job A. 73.87% of respondents would take Job B. 9.80% of respondents would take either one because they believe they will be able to afford the same future standard of living in both places. 6.02% of respondents don't know which job they would choose. 0.03% of respondents did not provide a response.
Suppose that by the year 2020 your income has doubled and prices of all goods have doubled too. In 2020 how much will you be able to buy with your 2020 income? Enumerated: 1 More than today 2 The same amount as today 3 Less than today 4 Don't know;3.00% of respondents believe that inflation will be more than today. 74.28% of respondents believe that inflation will be the same as today. 19.85% of respondents believe that inflation will be less than today. 2.75% of respondents don't know what inflation will be. 0.12% of respondents did not provide a response.
Rita must choose between two job offers. She wants to select the job with a salary that will afford her the higher standard of living for the next few years. Job A offers a 3% raise every year while Job B will not provide a raise for the next few years. If Rita chooses Job A she will live in City A. If Rita chooses Job B she will live in City B. Rita finds that the price of goods and services today are about the same in both areas. Prices are expected to rise however by 4% in City A every year and stay the same in City B. Based on her concerns about standard of living what should Rita do? Enumerated: 1 Take Job A 2 Take Job B 3 Take either one: she will be able to afford the same future standard of living in both places 4 Don't know;10.24% of respondents would take Job A. 77.40% of respondents would take Job B. 7.74% of respondents would take either one because they believe they will be able to afford the same future standard of living in both places. 4.49% of respondents don't know which job they would choose. 0.12% of respondents did not provide a response.
Suppose you had $100 in a savings account and the interest rate was 2% per year. After 5 years how much do you think you would have in the account if you left the money to grow? Enumerated: 1 More than $102 2 Exactly $102 3 Less than $102 4 Don't know;87.91% of respondents have an interest rate literacy level that is more than $102. 4.91% of respondents have an interest rate literacy level of exactly $102. 2.88% of respondents have an interest rate literacy level that is less than $102. 4.22% of respondents don't know their interest rate literacy level. 0.08% of respondents did not provide a response.
 Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year would you be able to buy more than exactly the same as or less than today with the money in this account? Enumerated: 1 More than today 2 Exactly the same as today 3 Less than today 4 Don't know;"4.79% of respondents have an inflation literacy level that is ""More than today."" 6.98% of respondents have an inflation literacy level that is ""Exactly the same as today.""  81.34% of respondents have an inflation literacy level that is ""Less than today."" 6.86% of respondents don't know their inflation literacy level. 0.04% of respondents did not provide a response."
We have some questions about the price of publicly traded stocks. The S&P 500 is an index of 500 common stocks actively traded in the United States. It provides one measure of the general level of stock prices. The S&P 500 index currently stands at around 1300. Do you believe this level is: Enumerated: 1 just right (in the sense that the price is in line with what you personally regard to be fair) 2 too high 3 too low as compared to the fair value?;"47.73% of respondents believe the stock price level is ""just right"" (in the sense that the price is in line with what they personally regard to be fair). 25.39% of respondents believe the stock price level is ""too high."" 25.51% of respondents believe the stock price level is ""too low"" as compared to the fair value. 1.38% of respondents did not provide a response."
We now have some questions about housing prices. The median price of a single family home in the Los Angeles cosmopolitan area is currently around 350000 dollars (Half of all single family homes in the area cost less than the median and the other half cost more than the median.). Do you believe that current housing prices are: Enumerated: 1 just right (in the sense that housing prices are in line with what you personally regard to be fair) 2 too high 3 too low as compared to the fair value?;"26.75% of respondents believe current housing prices are ""just right"" (in the sense that housing prices are in line with what they personally regard to be fair). 53.56% of respondents believe current housing prices are ""too high."" 18.64% of respondents believe current housing prices are ""too low"" as compared to the fair value. 1.06% of respondents did not provide a response."
We now have some questions about the price of gold bullion traded internationally. One (Troy) ounce of gold currently trades at around 1480 US dollars. Do you believe this level is: Enumerated: 1 just right (in the sense that the price is in line with what you personally regard to be fair) 2 too high 3 too low as compared to the fair value?;"43.00% of respondents believe current gold prices are ""just right"" (in the sense that the price is in line with what they personally regard to be fair). 44.56% of respondents believe current gold prices are ""too high."" 10.80% of respondents believe current gold prices are ""too low"" as compared to the fair value. 1.65% of respondents did not provide a response."
Suppose you put $1000 in an account that earns 5% interest per year every year. You never invest additional money and you never withdraw money or interest payments. So in the first year you earn $50 in interest. In Year 4 how much will this account earn? Enumerated: 1 Less than $50 2 $50 3 More than $50 4 Don't know;1.65% of respondents have knowledge of interest on interest of less than $50. 3.92% of respondents have knowledge of interest on interest of $50. 91.07% of respondents have knowledge of interest on interest of more than $50 . 3.33% of respondents do not know about interest on interest. 0.04% of respondents did not provide a response.
Suppose you invest $2500 and earn 7% per year on this investment. How many years will it take for your total investment to be worth $5000? Enumerated: 1 Between 0 and 5 years 2 Between 5 and 15 years 3 Between 15 and 45 years 4 More than 45 years 5 Don't know;"4.76% of respondents have knowledge of the ""7 and 10 rule"" with experience between 0 and 5 years. 64.20% of respondents have knowledge of the ""7 and 10 rule"" with experience between 5 and 15 years. 20.34% of respondents have knowledge of the ""7 and 10 rule"" with experience between 15 and 45 years.1.98% of respondents have knowledge of the ""7 and 10 rule"" with experience of more than 45 years. 8.68% of respondents do not know about the ""7 and 10 rule."" 0.04% of respondents did not provide a response."
Consider the following scenario: Jack and Jill are twins. At the age of 20 Jack started contributing $20 a month to a savings account. After 20 years at the age of 40 he stopped adding to his savings but he left the money in the account. Jill didnt Enumerated: 1 Jack 2 Jill 3 They had the same amount 4 Don't know;70.09% of respondents choose Jack's behavior regarding earning over time. 3.48% of respondents choose Jill's behavior regarding earning over time. 19.79% of respondents believe that Jack and Jill had the same amount of money. 6.60% of respondents don't know or are unsure about Jack and Jill's behavior. 0.04% of respondents did not provide a response.
Pam is deciding between 2 options: uOption A:/u - Invest $1000 in a certificate of deposit that earns 5% interest. - Pam would not add or remove any money from this investment for the next 30 years. uOption B:/u - Invest $1000 in a savings account that earns 5% interest.- Move the interest earned on this account every year into a safe at home.- Pam would not add or remove any other money from the savings account or the safe for the next 30 years. At the end of 30 years which of these options would provide the most money? Enumerated: 1 Option A 2 Option B 3 Pam will have the same amount of money at the end of 30 years regardless of whether she chooses Option A or Option B. 4 Don't know;80.53% of respondents choose Option A regarding earning interest on interest. 5.17% of respondents choose Option B regarding earning interest on interest. 6.71% of respondents believe that Pam will have the same amount of money regardless of the option chosen. 7.52% of respondents don't know which option to choose. 0.07% of respondents did not provide a response.
 Suppose that by the year 2020 your income has doubled and prices of all goods have doubled too. In 2020 how much will you be able to buy with your 2020 income? Enumerated: 1 More than today 2 The same amount as today 3 Less than today 4 Don't know;3.89% of respondents believe that inflation will be more than today. 78.61% of respondents believe that inflation will be the same as today. 13.87% of respondents believe that inflation will be less than today. 3.60% of respondents don't know about the future inflation rate. 0.04% of respondents did not provide a response.
Rita must choose between two job offers. She wants to select the job with a salary that will afford her the higher standard of living for the next few years. Job A offers a 3% raise every year while Job B will not provide a raise for the next few years. If Rita chooses Job A she will live in City A. If Rita chooses Job B she will live in City B. Rita finds that the price of goods and services today are about the same in both areas. Prices are expected to rise however by 4% in City A every year and stay the same in City B. Based on her concerns about standard of living what should Rita do? Enumerated: 1 Take Job A 2 Take Job B 3 Take either one: she will be able to afford the same future standard of living in both places 4 Don't know;11.19% of respondents would choose Job A regarding their behavior regarding inflation. 72.51% of respondents would choose Job B regarding their behavior regarding inflation. 10.20% of respondents would choose either Job A or Job B believing they will be able to afford the same future standard of living in both places. 6.06% of respondents don't know which job to choose regarding their behavior regarding inflation. 0.04% of respondents did not provide a response.