How are individuals affected by financial shocks? What are the consequences of unpredictable changes in individuals' stock portfolios? How do declines in portfolio value affect labor supply, consumption and savings? Do individuals choose to work more and retire later? Does health deteriorate, is mortality affected? Does the opposite happen for increases in asset values? How strong are informal insurance channels within the family? Are family and relatives affected by changes in wealth? Do these channels help individuals who have lost a lot of money due to a financial shock? On the other hand, during financial upswings, is wealth shared within the family? This research project aims to answer these questions empirically using a new research methodology. I study these questions with detailed Swedish data covering the portfolio holdings of all Swedes. The project is the first of its kind to use these data to analyze these questions. Our analysis will not only help to answer academically important questions such as how individuals choose to work and how savings are determined, but I will also be able to make recommendations in the design of economic policy. For example, if individuals with different levels of wealth choose to retire at different times, a pension system where the pension depends on wealth may be justified.