Saving for Retirement: The Importance of Planning

TitleSaving for Retirement: The Importance of Planning
Publication TypeJournal Article
Year of Publication2000
AuthorsLusardi, A
JournalTIAA-CREF Institute Research Dialogue
Call Numberpubs_2000_Lusardi_issue66.pdf
KeywordsEmployment and Labor Force, Health Conditions and Status, Net Worth and Assets

Data indicate large differences in household wealth accumulations. While some households amass large amounts of wealth before retirement, a large percentage of U.S. households are nearing retirement age with little or no wealth. A quarter of the households in the sample have less than 30,000 in total net worth. While total net worth is not a complete measure of accumulation, the fact remains that many Americans enter retirement with little or no savings. One of the explanations for this lack of savings is that some people do not spend enough time thinking about and planning for retirement, which inevitably results in lower wealth accumulations. Planning for retirement can be difficult, stressful, and time consuming, all factors that can deter families from doing it on their own. Further research is needed to determine the reasons why housheholds do not plan for retirement and whether providing formal sources of information can help to improve their financial security.


RDA 1998-002

Endnote Keywords

Economic Status--liquid net worth, total net worth/Labor--retirement planning, anxiety/Health Status--cognitive ability/Wealth

Endnote ID


Citation Key6713