•
If the financial r did not complete an interview through Section Q in the
previous wave then:
o
If R1 is the preloaded financial respondent, keep that assignment.
At R2, if R1 interview is complete through Q then R2 is not
financial Respondent.
Otherwise, make R2 a financial Respondent
If R1 is not preloaded financial Respondent, make R1 a financial
Respondent.
o
At R2 keep R2 a financial Respondent.
Asset Reconciliation
By design, HRS respondents are asked to resolve discrepancies in the monetary
values of assets that they tell us about. In 2022, we eliminated the Asset
Reconciliation Section (Section U) that came at the end of the interview, and
started asking reconciliation questions after the appropriate question in
Sections H and Q. Reconciliation questions about primary residence, first
mortgage on main home and second residence now appear in Section H.
Reconciliation questions about businesses or farms, IRAs, stocks,
checking/savings, and other personal items of value now appear in Section Q. We
no longer ask reconciliation questions about general debts, net trusts,
vehicles, CD’s, bonds, real estate properties, second mortgages, equity loans,
mobile homes, or mortgages on second homes. We summarize below the differences
between Asset Reconciliations and Asset Reconciliation Eligibility in 2022 and
prior waves.
2020 and Prior
2022
•
Respondents could be asked
•
Respondents are eligible to be
asked about eight types of
assets if certain criteria are
met
about discrepancies for up to
eighteen assets if certain
criteria were met
•
A global eligibility
•
HRS determined which assets to
ask about by cross tabulating
assets asked about most often
with assets that were
frequently reported as
incorrect
requirement was used (the
difference in Net Worth of
household assets must differ by
at least $150,000 between
waves.)
•
•
Questions were asked at the end
of the interview, not in
context
Eligibility was based on a flat
dollar amount difference (if
difference between waves was >
$50,000) and this condition
being met
•
•
Questions are asked in context,
immediately following the
respondent’s report of current
wave asset value
Eligibility criteria include
Condition 1 and a new criteria:
Condition 2
•
Difference between waves for
each asset is greater than
or equal to $50,000
Condition 1
•
•
Living respondent
Previous wave financial
interview took place in the
prior wave
•
Difference between waves is
greater than the minimum of
either the previous wave or
the current wave. For
•
•
Re-interview household
Same financial reporter as
last wave
example, if previous wave
the asset = $100k and
current wave = $200k, the
difference > $50k, but not
greater than the minimum of
either wave (100k and 200k)
27
February 2024, Version 1.0