%0 Journal Article %J Financial Planning Review %D 2022 %T Aging and loneliness: Why financial advisors should help clients and how %A Gibson, Philip %A Cheng, Yuanshan %A Sam, Janine K. %K behavioral finance %K Financial planning %K Retirement %X The primary goal of this study is to examine loneliness in retirement and explore steps that a financial planner can take to mitigate client loneliness. Using data from the Participant Lifestyle Questionnaire, and Leave-Behind Module from the Health and Retirement Study database, we show that even after controlling for relationship status and having a purpose in life, leisure activities can help reduce loneliness. When compared to increasing household wealth, the authors find that engaging in social activities has a greater impact on decreasing loneliness, signaling a possible duty of care owed to clients as it relates to well-being. We conclude with implications and practical strategies financial advisors can implement to help clients as they plan for and navigate retirement. %B Financial Planning Review %V 5 %P e1136 %G eng %N 1 %R 10.1002/cfp2.1136 %0 Journal Article %J Journal of Insurance Issues %D 2022 %T Life Insurance Ownership Among Seniors-A Perspective of Spousal Quality Among the Elderly %A Cheng, Yuanshan %A Gibson, Philip %A Guo, Tao %A Sam, Janine %K Elderly %K Life insurance %K seniors %K spousal quality %X Life insurance is commonly used to protect against the loss of future human capital earnings. Using data from the Health and Retirement Study (HRS) Leave Behind survey, this study investigates the impact that the quality of a marriage has on the demand for life insurance ownership. The results suggest that spousal relationship quality is a strong and dominating factor in life insurance ownership among the elderly. Our findings indicate that elderly individuals are more motivated to provide financial protection to their spouse when the quality level of their marriage is "good "- in addition to the influence of other factors predicted by classic economic theories. We perform several robustness tests and find consistent results. [Key words: relationship quality, life insurance ownership, household risk management] %B Journal of Insurance Issues %V 45 %P 1-24 %G eng %N 2