Peer groups are:
A)Households in a similar demographic category,against whom the advisor measures a household's financial health.
B)Analysts that review a household's wealth from an objective and non-judgmental perspective.
C)Analysts that review a household's wealth from a subjective and behavioral perspective.
D)Friends and associates with similar backgrounds,against whom we measure ourselves.
E)None of the above

Question

Quizplus · Accepted Answer

Peer groups refer to friends and associates with similar backgrounds, against whom we measure ourselves. They can influence our behaviors, decisions, and perceptions towards wealth and financial health. Using peer groups as a benchmark can be helpful in understanding how an individual household's financial situation compares to their peers.

Peer Groups Are