Couples' and Singles' Savings after Retirement

TitleCouples' and Singles' Savings after Retirement
Publication TypeJournal Article
Year of Publication2015
AuthorsDe Nardi, M, French, E, Jones, JBailey
JournalSSRN Electronic Journal
Date PublishedJan-01-2015
KeywordsMarriage, Older Adults, Retirement Planning and Satisfaction, Singles

We model the saving problem of retired couples and singles facing uncertain longevity and medical expenses in presence of means-tested social insurance. Households can save to self-insure against uncertain longevity and medical expenses, and to leave bequests. Individuals in a couple can be altruistic towards their spouse and other heirs and split bequests optimally. Single people can care about leaving bequests to children and others. Using AHEAD data, we first estimate the model and we then evaluate the relative importance of the various savings motives and the risk exposure of couples’ versus singles.

Short TitleSSRN Journal
Citation Key8643