50We define liquid financial and retirement assets as the sum of transaction accounts (deposits), CDs, bonds, stocks, mutual funds, and retirement assets. We take the same approach as before: we match the fraction of liquid financial and retirement assets held by the top 20  , 40  , 60  , and 80  percent of the population (in the SCF 2004), while at the same time matching the aggregate liquid financial and retirement assets-to-income ratio (which is 6.6 in the SCF 2004).