|Title||The Impact of Own Children on Retirement Portfolio Composition in the United States|
|Year of Publication||2001|
|Authors||Mellor, JM, Jensen, ER|
|Institution||College of William and Mary, Dept. of Economics|
|Keywords||Net Worth and Assets|
We estimate models of retirement portfolio compositions using Wave 1 of the Health and Retirement Survey. The sample consists largely of pre-retirement individuals in their early 50s. Treating number of own children as endogenous, we find little firm evidence that either levels of specific asset holdings or their shares in a portfolio of assets are affected by number of own children. The exception is housing wealth, which also carries a significant consumption component. While some parents may well come to rely on their children for retirement support, we cannot support the notion that it typically is intentional.
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