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Evidence shows alarming numbers of US workers nearing retirement insufficiently save for this next life stage. Moreover, many women invest too conservatively. This finding is of particular concern as women typically live longer than men do, and thus, rely on accumulated savings for longer periods of time. This study extends work in the psychology of investing by examining the relationship between gender and investment risk and the role financial self-efficacy (FSE) plays. Data collected from 182 US student subjects tested the hypotheses that women make less risky investments than men do and that FSE is positively related to the level of risk taken within investment portfolios. The results not only supported the hypotheses but also the analysis shows that FSE might account for the frequently observed gender difference associated with greater financial risk taking. [ABSTRACT FROM AUTHOR]

Compulsive buying is part of overall consumer spending in the U.S. and can be a personal problem for those whose financial resources cannot support it. The present study describes three psychological traits that appear to promote compulsive buying. Data from a survey of 464 U.S. college students show that compulsive buying relates positively to brand engagement in selfconcept and to status consumption, but negatively to being frugal. In this study, females and younger buyers show more compulsive buying, but income does not relate to the focal concept. The findings suggest that while demographic characteristics might explain or predict compulsive buying, it is primarily a psychological phenomenon. Still, compulsive buying is only one element of a constellation of individual differences that predispose some consumers to buy compulsively. [ABSTRACT FROM AUTHOR]