Cohort Differences in Retirement Expectations and Realizations

TitleCohort Differences in Retirement Expectations and Realizations
Publication TypeBook Chapter
Year of Publication2007
AuthorsMaestas, N
Book TitleRedefining Retirement: How Will Boomers Fare?
PublisherOxford University Press
CityNew York, NY
KeywordsExpectations, Net Worth and Assets, Other
Abstract

This chapter compares retirement expectations, retirement patterns, and expectations of future work
across different cohorts of the Health and Retirement Study, including the new cohort of Baby Boomers
currently in their late 50’s. We find that the Boomers are more strongly attached to the labor force as they
enter their retirement years than were earlier cohorts at the same age. Compared to the preceding birth
cohort, they expect to retire nearly one year later, they are 14 percent more likely to expect to be working
full-time at age 65, and they are 21 percent more likely to expect to work in the future if they are not
currently working. We find that these differences are not entirely explained by cohort differences in
socioeconomic status, pension incentives, demographics, or health. We conclude that the Baby Boomers
may have stronger preferences for work than previous cohorts.

Notes

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URLhttps://repository.upenn.edu/cgi/viewcontent.cgi?article=1362&context=prc_papers
Endnote Keywords

Retirement Expectations/Retirement Wealth/COHORT

Endnote ID

18110

Short TitleCohort Differences in Retirement Expectations and Realizations
Citation Key5209