@article {10037, title = {The forgotten middle: Many middle-income seniors will have insufficient resources for housing and health care}, journal = {Health Affairs}, volume = {38}, year = {2019}, pages = {851-859}, abstract = {As people age and require more assistance with daily living and health needs, a range of housing and care options is available. Over the past four decades the market for seniors housing and care{\textemdash}including assisted living and independent living communities{\textemdash}has greatly expanded to accommodate people with more complex needs. These settings provide housing in a community environment that often includes personal care assistance services. Unfortunately, these settings are often out of the financial reach of many of this country{\textquoteright}s eight million middle-income seniors (those ages seventy-five and older). The private seniors housing industry has generally focused on higher-income people instead. We project that by 2029 there will be 14.4 million middle-income seniors, 60 percent of whom will have mobility limitations and 20 percent of whom will have high health care and functional needs. While many of these seniors will likely need the level of care provided in seniors housing, we project that 54 percent of seniors will not have sufficient financial resources to pay for it. This gap suggests a role for public policy and the private sector in meeting future long-term care and housing needs for middle-income seniors.}, keywords = {Caregiving, Future, Medicare/Medicaid/Health Insurance}, issn = {0278-2715}, doi = {10.1377/hlthaff.2018.05233}, url = {http://www.healthaffairs.org/doi/10.1377/hlthaff.2018.05233}, author = {Pearson, Caroline F. and Quinn, Charlene C. and Loganathan, Sai and Datta, A. Rupa and Mace, Beth Burnham and David C Grabowski} } @article {10035, title = {How will retirement saving change by 2050? Prospects for the millennial generation}, year = {2019}, month = {03/2019}, pages = {1-51}, institution = {Brookings Institution}, type = {Working Paper}, address = {Washington, DC}, abstract = {In {\textquotedblleft}How Will Retirement Saving Change by 2050? Prospects for the Millennial Generation{\textquotedblright} William G. Gale, Hilary Gelfond, and Jason Fichtner consider prospects for retirement saving for members of the millennial generation, who will be between ages 54 and 69 in 2050. Adequacy of retirement saving preparation among current and near-retirees is marked by significant heterogeneity, a characteristic that will likely hold for Millennials as well. In preparing for retirement, Millennials will have several advantages relative to previous generations, such as more education, longer working lives, and more flexible work arrangements, but also several disadvantages, including having to take more responsibility for their own retirement plans and marrying and bearing children at later ages. The millennial generation contains a significantly higher percentage of minorities than previous generations. The authors find that minority households have tended to accumulate less wealth than whites in the past, even after controlling for income, education, and marital status, and the difference appears to be growing over time for black households relative to whites. Whether these trends persist is central to understanding how the Millennials will fare in retirement.}, keywords = {Future, Millenials, Public Policy, Retirement Planning and Satisfaction}, url = {https://www.brookings.edu/wp-content/uploads/2019/03/How-Will-Retirement-Saving-Change-by-2050.docx.pdf}, author = {William G. Gale and Gelfond, Hilary and Fichtner, Jason} } @article {10038, title = {Why everyone should save like they{\textquoteright}re going to retire early}, journal = {MarketWatch}, year = {2019}, publisher = {MarketWatch}, address = {San Francisco}, keywords = {Future, Retirement Planning and Satisfaction, Savings}, url = {https://www.marketwatch.com/story/why-everyone-should-save-like-theyre-going-to-retire-early-2019-04-10}, author = {Hester, Tanja} } @article {8659, title = {Retirement Timing: A Review and Recommendations for Future Research}, journal = {Work, Aging and Retirement}, volume = {2}, year = {2016}, month = {02/2016}, pages = {230 - 261}, abstract = {Although there have been many reviews of the retirement literature in recent years, the issue of retirement timing has received less attention, neglecting some large and important issues. Further, a significant number of empirical articles about retirement timing have been published across multiple disciplines since these review articles were written. The purpose of our study is to review and integrate prior research regarding retirement timing. We define retirement timing as the age or relative point at which workers exit from their position or career path (e.g., early, on time, and later). We propose a model to serve as an organizing framework for understanding retirement timing. Our model includes antecedents and consequences that are each grouped in terms of individual, family, work, and sociocultural factors related to the timing of the retirement process. We identify and discuss key factors that serve to moderate the relation between retirement timing and consequences. Finally, we identify gaps in the current literature and provide recommendations for future research.}, keywords = {Future, Older Adults, Retirement Planning and Satisfaction}, issn = {2054-4642}, doi = {10.1093/workar/waw001}, url = {http://workar.oxfordjournals.org/lookup/doi/10.1093/workar/waw001}, author = {Gwenith G Fisher and Chaffee, Dorey S. and Amanda Sonnega} } @inbook {8641, title = {The Outlook for Financial Literacy}, booktitle = {Financial Literacy: Implications for Retirement Security and the Financial Marketplace}, year = {2012}, publisher = {Oxford University Press}, organization = {Oxford University Press}, chapter = {1}, address = {Oxford, UK}, keywords = {Financial literacy, Forecasting, Future, Older Adults}, author = {Annamaria Lusardi and Olivia S. Mitchell} }