@article {8375,
	title = {How does dementia onset in parents influence unmarried adult children{\textquoteright}s wealth},
	journal = {Social Science and Medicine},
	volume = {152},
	year = {2016},
	note = {Times Cited: 0 0},
	pages = {156-165},
	publisher = {152},
	abstract = {There is a growing concern that long-term care (LTC) needs of older adults lead to negative financial consequences for their family members. This paper examines whether the onset of dementia in parents influences wealth change among unmarried adult children regardless of their status as informal caregivers. Longitudinal data from seven waves (1998-2010) of the Health and Retirement Study (1540 person-wave observations) are used to analyze this question. Unconditional quantile regressions demonstrate that as a result of parental dementia diagnosis, unmarried adult children have lower wealth accumulation above the median of the wealth change distribution. These effects are more pronounced for unmarried adult children without siblings. Further, this response is observed to persist in the subsequent period as well. Both losses in labor income and nursing home expenditures may play a role in leading to wealth declines.},
	keywords = {Adult children, Health Conditions and Status, Healthcare, Net Worth and Assets},
	doi = {10.1016/j.socscimed.2016.01.042},
	author = {Arora, Kanika}
}
@inbook {5252,
	title = {The Economic Security of Latino Baby Boomers: Implications for Future Retirees and for Healthcare Funding in the U.S.},
	booktitle = {Challenges of Latino Aging in the Americas},
	year = {2015},
	pages = {355-378},
	publisher = {Springer},
	organization = {Springer},
	chapter = {21},
	address = {New York},
	keywords = {Consumption and Savings, Healthcare, Net Worth and Assets, Public Policy, Women and Minorities},
	author = {Zachary Gassoumis and Kathleen H. Wilber and Torres-Gil, Fernando M.},
	editor = {William A. Vega and Kyriakos S Markides and Jacqueline L. Angel and Torres-Gil, Fernando M.}
}
@article {8199,
	title = {The Impact of the Recession on the Wealth of Older Immigrant and Native Households in the United States},
	journal = {IZA Journal of Labor Policy},
	volume = {4},
	year = {2015},
	note = {Date revised - 2015-04-01 Availability -  URL:http://www.izajolp.com/content  Publisher{\textquoteright}s URL},
	publisher = {4},
	abstract = {Using the 2006 and 2010 Health and Retirement Study, we explore how the recent recession impacted the wealth holding and retirement plans of older households in the United States. Of particular interest to us is whether the impact on household asset ownership, asset wealth and household retirement behavior varied with the nativity of the household and its standing in the wealth distribution prior to the onset of the recession. We find that the so-called Great Recession made a significant dent on the portfolios of older American households by eroding the value of specific assets to the point of delaying their planned retirement. Furthermore, its impacts were unevenly distributed across demographic and economic groups, with mixed and immigrant households in the middle and top wealth quartiles prior to the recession enduring significantly larger wealth losses than natives due, primarily, to their greater losses in primary housing ownership and primary housing values.},
	keywords = {Employment and Labor Force, Housing, Net Worth and Assets, Pensions, Public Policy, Retirement Planning and Satisfaction, Women and Minorities},
	doi = {10.1186/s40173-015-0033-x},
	author = {Amuedo-Dorantes, Catalina and Pozo, Susan}
}
@inbook {5251,
	title = {Racial and Ethnic Disparities in Willingness to Pay for Improved Health: Evidence from the Aging and Population},
	booktitle = {Challenges of Latino Aging in the Americas},
	year = {2015},
	pages = {333-354},
	publisher = {Springer},
	organization = {Springer},
	chapter = {20},
	address = {New York},
	keywords = {Health Conditions and Status, Net Worth and Assets, Women and Minorities},
	author = {Odufuwa, Olufolake O. and Berrens, Robert P. and Valdez, R. Burciaga},
	editor = {William A. Vega and Kyriakos S Markides and Jacqueline L. Angel and Torres-Gil, Fernando M.}
}
@mastersthesis {6201,
	title = {Three Essays on the Supply of Long-Term Care Services to the Elderly in the U.S},
	volume = {3713670},
	year = {2015},
	note = {Copyright - Copyright ProQuest Dissertations Publishing 2015 Last updated - 2015-09-02 First page - n/a},
	month = {2015},
	pages = {105},
	school = {Syracuse University},
	type = {Ph.D.},
	address = {Syracuse, NY},
	abstract = {Situated in the context of a rapidly aging population, this dissertation examines the implications of supplying long-term care (LTC) services to the elderly in the United States. The first two essays investigate private costs of LTC assistance borne by adult children of elderly parents. In contrast, the third essay focuses on the cost of publicly-provided, formal LTC services. The first essay analyzes whether adult children devote less time to exercise as time allocation in parental caregiving increases. The empirical model is a system of four correlated equations, where the dependent variables are hours spent caregiving, frequency of moderate and vigorous physical activity, and hours spent in paid work. I use pooled cross-sectional data from the Health and Retirement Study (HRS) for this analysis. Results from joint estimation of the four equations indicate limited evidence of a competition between time spent in caregiving and frequency of physical activity. Parental factors that increase allocation of care time to parents do not comprehensively induce reductions in the frequency of any type of physical activity, nor in hours of work, among either men or women. The second essay goes beyond time resources and examines whether dementia onset in parents leads to a reduction in adult children{\textquoteright}s household wealth. Towards this, I construct a longitudinal dataset from seven waves of HRS. Estimates from unconditional quantile regressions indicate that parental dementia substantially reduces household wealth of an unmarried adult child in the upper quantiles of the wealth change distribution in the first two years after parental diagnosis. These effects are more pronounced for unmarried adult children without siblings. Further, this response is observed to persist in the subsequent time period as well. An examination of mechanisms suggests that both, losses in labor income and nursing home expenditures, may play a role in leading to wealth declines. This paper makes two contributions: first, it focuses on a broader outcome of private cost, and second, unlike previous studies, it does not limit the analysis to adult children who are informal caregivers. The final essay examines the cost implications of publicly provided formal care services. Medicaid{\textquoteright}s Personal Care Services (PCS) State Plan benefit is a key mechanism through which states provide personal assistance services to eligible beneficiaries. But, it is widely claimed that states are reluctant to adopt the program over fears of runaway spending. Surprisingly, there has been very little empirical work on examining the effect of the PCS State Plan benefit on Medicaid expenditures. Using aggregate state-level data from 1975 through 2009, this study finds that PCS State Plan adoption had no overall effect on Medicaid expenditures, except briefly during the early-growth years in 1980s. Further, findings suggest that states make decisions to adopt the program based on financial experiences of other adopting states. This study provides evidence consistent with the interpretation that when faced with the dilemma of balancing increased access and uncontrolled expenditures, state officials adapt the design of an entitlement benefit in an effort to make it less expensive. In its entirety, the dissertation provides new thinking on two dominant themes in conventional long-term care research: "caregiver burden" and "woodwork effect". In particular, the results of the first and third essay question the presence of "caregiver burden" and "woodwork effect" respectively, while the third essay challenges the pervasiveness of "caregiver burden" among unmarried adult children. These findings, which in some aspect are unexpected in the context of existing literature, have important implications for policy intervention and the direction of future research efforts in this area.},
	keywords = {Adult children, Health Conditions and Status, Healthcare, Medicare/Medicaid/Health Insurance, Methodology, Net Worth and Assets, Public Policy},
	url = {http://proxy.lib.umich.edu/login?url=http://search.proquest.com/docview/1708672813?accountid=14667http://mgetit.lib.umich.edu/?ctx_ver=Z39.88-2004\&ctx_enc=info:ofi/enc:UTF-8\&rfr_id=info:sid/ProQuest+Dissertations+\%26+Theses+Full+Text\&rft_val_fmt=info:ofi/},
	author = {Arora, Kanika}
}
@article {8203,
	title = {The Vicious Cycle of Parental Caregiving and Financial Well-being: A Longitudinal Study of Women},
	journal = {Journals of Gerontology Series B-Psychological Sciences and Social Sciences},
	volume = {70},
	year = {2015},
	note = {Times Cited: 0 0},
	pages = {425-431},
	publisher = {70},
	abstract = {Objectives. This study examines the relationship between caring for older parents and the financial well-being of caregivers by investigating whether a reciprocal association, or vicious cycle, exists between female caregiver{\textquoteright}s lower household incomes and caring for elderly parents. Method. Data for women aged 51 or older with at least 1 living parent or parent-in-law were drawn from the Health and Retirement Survey 2006, 2008, and 2010 (N = 2,093). A cross-lagged panel design was applied with structural equation modeling. Results. We found support for the reciprocal relationship between parental caregiving and lower household income. Female caregivers were more likely than noncaregivers to be in lower household income at later observation points. Also, women with lower household income were more likely than women with higher household income to assume caregiving at later observation points. Discussion. This study suggests that there exists a vicious cycle of parental care and lower household income among women. A key concern for policy is female caregivers{\textquoteright} financial status when care of older parents is assumed and care burden when women{\textquoteright}s financial status declines.},
	keywords = {Adult children, Healthcare, Net Worth and Assets, Women and Minorities},
	doi = {10.1093/geronb/gbu001},
	author = {Lee, Yeonjung and Tang, Fengyan and Kim, Kevin H. and Steven M. Albert}
}
@article {5877,
	title = {The Wealth of Wealthholders},
	year = {2015},
	institution = {Cambridge, United States, NBER Working Paper No. 20972},
	abstract = {This paper introduces the Vanguard Research Initiative (VRI), a new panel survey of wealthholders designed to yield high-quality measurements of a large sample of older Americans who arrive at retirement with significant financial assets. The VRI links survey data with a variety of administrative data from Vanguard. The survey features an account-by-account approach to asset measurement and a real-time feedback and correction mechanism that are shown to be highly successful in eliciting accurate measures of wealth. Specifically, the VRI data reflect unbiased and precise estimates of wealth when compared to administrative account data. The VRI sample has characteristics similar to populations meeting analogous wealth and Internet access eligibility conditions in the Health and Retirement Study (HRS) and Survey of Consumer Finances (SCF). To illustrate the value of the VRI, the paper shows that the relationship between wealth and expected retirement date is very different in the VRI than in the HRS and SCF--mainly because those surveys have so few observations where wealth levels are high enough to finance substantial consumption during retirement.},
	keywords = {Adult children, Consumption and Savings, Employment and Labor Force, Event History/Life Cycle, Net Worth and Assets, Public Policy, Women and Minorities},
	url = {http://search.proquest.com/docview/1687935318/1B5FA0446C27487FPQ/32},
	author = {Ameriks, John and Caplin, Andrew and Lee, Minjoon and Matthew D. Shapiro and Tonetti, Christopher}
}
@article {7931,
	title = {Life expectancy as a constructed belief: Evidence of a live-to or die-by framing effect},
	journal = {Journal of Risk and Uncertainty},
	volume = {46},
	year = {2013},
	pages = {27},
	publisher = {46},
	abstract = {Life expectations are essential inputs for many important personal decisions. We propose that longevity beliefs are responses constructed at the time of judgment, subject to irrelevant task and context factors, and leading to predictable biases. Specifically, we examine whether life expectancy is affected by the framing of expectations questions as either live-to or die-by, as well as by factors that actually affect longevity such as age, gender, and self-reported health. We find that individuals in a live-to frame report significantly higher chances of being alive at ages 55 through 95 than people in a corresponding die-by frame. Estimated mean life expectancies across three studies and 2300 respondents were 7.38 to 9.17 years longer when solicited in a live-to frame. We are additionally able to show how this framing works on a process level and how it affects preference for life annuities. Implications for models of financial decision making are discussed.  PUBLICATION ABSTRACT},
	keywords = {Expectations, Health Conditions and Status, Healthcare, Methodology, Net Worth and Assets, Retirement Planning and Satisfaction},
	author = {Payne, John W. and Sagara, Namika and Shu, Suzanne B. and Appelt, Kirstin C. and Johnson, Eric J}
}
@mastersthesis {6198,
	title = {Three essays in public economics},
	volume = {3592578},
	year = {2013},
	month = {2013},
	pages = {124},
	school = {The University of Wisconsin - Madison},
	type = {Ph.D.},
	address = {Madison, WI},
	abstract = {The first and second chapters of this dissertation consider household financial decision making. In the first chapter I examine the phenomenon of early claiming for Social Security retirement benefits. Previous work has shown that early claiming, in particular by the primary earner in married couples, is not consistent with household benefit maximization nor is it predicted by models of utility maximization. I show that observed claiming behavior is explained well by a model in which the primary earner chooses when to claim without taking into consideration the effect of the choice on the secondary earner{\textquoteright}s spousal and survivor benefits. I find that the decrease in the value of household benefits due to early claiming is borne almost entirely by the surviving spouse. In the second chapter, with John Karl Scholz and Ananth Seshadri, we use the insight of a lifecycle model to better understand the factors that affect household retirement savings targets. Two of the most important determinants of savings targets are households{\textquoteright} location in the lifetime income distribution and number of children. We measure the deviation of a set of financial guidelines for retirement saving from the optimal asset accumulation implied by the lifecycle model and suggest an alternate savings heuristic that takes into account insights from the lifecycle model. The third chapter applies a novel estimation strategy to measure the benefit of hazardous waste site remediation. In contrast to previous estimates, this method calculates the benefit of site remediation allowing for diminishing marginal utility. Using data on home sales in Cincinnati, Ohio in 2000 I find the median willingness to pay for a one mile increase to the nearest hazardous waste site is $228 per year. This is lower than previous estimates which range from $284 to $1,065 per year.},
	keywords = {Health Conditions and Status, Methodology, Net Worth and Assets, Other, Public Policy, Social Security},
	author = {Anderson, Michael Throan}
}
@article {7686,
	title = {Cross-national insights into the relationship between wealth and wellbeing: a comparison between Australia, the United States of America and South Korea},
	journal = {Ageing and Society},
	volume = {32},
	year = {2012},
	pages = {41},
	publisher = {32},
	abstract = {ABSTRACT The positive relationship between wealth and wellbeing has received considerable attention over the last three decades. However, little is known about how the significance of wealth for the health and wellbeing of older adults may vary across societies. Furthermore, researchers tend to focus mainly on income rather than other aspects of financial resources even though older adults often rely on fixed income, particularly after retirement. Using data from the Household, Income and Labour Dynamics in Australia (HILDA) survey (N=1,431), the Health and Retirement Study (HRS) in the United States of America (USA; N=4,687), and the Korean Longitudinal Study of Ageing (KLoSA; N=5,447), this exploratory cross-national study examined the relationship between wealth satisfaction and objective wealth and wellbeing (measured as self-rated health and life satisfaction) among older Australians, Americans and Koreans (50  years). Regression analyses showed that wealth satisfaction was associated with wellbeing over and above monetary wealth in all three countries. The relationship between monetary wealth and self-rated health was larger for the US than Australian and Korean samples, while the additional contribution of wealth satisfaction to life satisfaction was larger for the Korean than the Australian and US samples. These findings are discussed in terms of the cultural and economic differences between these countries, particularly as they affect older persons.  PUBLICATION ABSTRACT},
	keywords = {Demographics, Health Conditions and Status, Healthcare, KLoSA, Methodology, Net Worth and Assets},
	url = {http://proquest.umi.com.proxy.lib.umich.edu/pqdweb?did=2529607071andFmt=7andclientId=17822andRQT=309andVName=PQD},
	author = {Kim, Sarang and K. A. Sargent-Cox and D. J. French and Kendig, H. and Kaarin J. Anstey}
}
@mastersthesis {6194,
	title = {Essays on family demography, household finance, and economics of the family},
	volume = {Ph.D.},
	year = {2012},
	pages = {141},
	school = {Cornell University},
	address = {Ithaca, NY},
	abstract = {This dissertation examines the intersection of financial resources, family demography and economic well-being of American households at transitional periods in the life course. Changes in union formation, the demographic composition of the population, and family structure since the latter part of the twentieth century have challenged existing theories on household formation, individual decision-making, and economic well-being (Bumpass, 1990). With the increase in woman{\textquoteright}s labor force participation, the rise of cohabitation, pre-marital childbirth, and single-parent households, conventional models used to explain recent trends in marriage market dynamics, intra-household resource allocation, and wealth inequality are continuously tested, challenged, and revamped to keep pace with a society in a current state of demographic and economic flux. Chapter one focuses on early and young adulthood and the role of consumer and education loan debt in transitioning into coresidential relationships using a sample of youth coming of age at the turn of the twenty-first century and during a period of economic expansion, increased college enrollment and growing socioeconomic divide in marital patterns in the United States. Results suggest total debt amount is associated with cohabitation, increasing the odds of cohabitation over marriage and remaining single for both women and men. First marriage is positively associated with greater educational attainment for this cohort of young adults, but women with education loan debt are more likely to delay marrying and cohabit first. Chapter two (co-authored with Daniel T. Lichter) addresses the racial wealth gap by exploring the relationship between marriage and marital histories on wealth accumulation of older Black and White women. Marital and relationship histories are strongly associated with the wealth accumulation process. Women who marry and stay married accumulated levels of wealth that exceeded those of other women with disrupted family lives. The marriage-wealth nexus is sensitive to a women{\textquoteright}s position in the wealth distribution, and decomposition analyses highlight the non-trivial role of racial disparities in marital histories in accounting for the racial wealth gap. The third and final chapter uses seven waves of individual-level data from the Health and Retirement Survey from 1998-2008 to analyze whether there is a causal effect of being an informal basic needs or financial caregiver to an aging parent on one{\textquoteright}s health outcomes (self-assessed health and depression) and health behaviors (exercise and smoking). The results suggest a positive effect on depressive symptoms of basic needs caregiving for unmarried adult children, and that they may be selecting into that role because of their poor health. Manifestations of caregiving in future periods include, basic needs caregiving increasing the probability of smoking for married women and financial caregiving increases depressive symptoms for unmarried men. These findings suggest that the financial costs of caregiving can influence adult children{\textquoteright}s health outcomes, in particular for those not currently in a marital union.},
	keywords = {Adult children, Demographics, Health Conditions and Status, Healthcare, Net Worth and Assets, Public Policy, Women and Minorities},
	url = {https://ecommons.cornell.edu/handle/1813/31034},
	author = {Fenaba R. Addo}
}
@article {5943,
	title = {Investment Decisions in Retirement: The Role of Subjective Expectations},
	year = {2012},
	institution = {Ann Arbor, The University of Michigan},
	abstract = {The rapid transition from defined benefit (DB) pension plans to defined contribution (DC) plans has a potential benefit of offering pension holders greater control over how their pension accumulations are invested. If pension holders are willing to take some risk, investments in the stock market could increase their economic preparation for retirement, and, indeed, economic theory as well as the typical advice of financial advisors calls for stock market investments. Yet, the rate of stock holding is much below what theory suggests it should be, undoing any benefit associated with the greater control coming from DC plans. The leading explanations for this under-investing include excessive risk aversion, costs of entry, and misperceptions about possible returns in the stock market. We show that excessive risk aversion is not able to account for the low fraction of stock holding. However, a model with heterogeneous subjective expectations about stock market returns is able to account for low stock market participation, and tracks the share of risky assets conditional on participation reasonably well. Based on the model with subjective expectations, we estimate a welfare loss of up to 12  compared to investment under rational expectations, if actual returns follow the same distribution as in the past 50 years. The policy implication is that there is considerable scope for welfare improvement as a result of consumer education regarding stock market returns. However, the welfare loss is much smaller if individuals are not very risk averse or if actual returns follow the same distribution as in the past 10 years},
	keywords = {Net Worth and Assets, Pensions},
	url = {http://www.mrrc.isr.umich.edu/publications/publications_download.cfm?pid=865},
	author = {Marco Angrisani and Michael D Hurd and Erik Meijer}
}
@article {8468,
	title = {Recession impacted near-retirees housing wealth},
	journal = {Benefits Selling. Breaking News},
	year = {2012},
	month = {May 22, 2012},
	publisher = {National Underwriter Company dba Summit Business Media},
	address = {New York},
	abstract = {Using asset and labor market data from the Health and Retirement Study, the organization examined the population that was just reaching retirement age when the recession hit, those aged 53 to 58 in 2006.},
	keywords = {Net Worth and Assets, Public Policy, Retirement Planning and Satisfaction, Social Security},
	url = {http://search.proquest.com.proxy.lib.umich.edu/docview/1021020587?accountid=14667},
	author = {Paula Aven, Gladych}
}
@article {7473,
	title = {Financial Literacy Lacking Among Older Population},
	journal = {Journal of Financial Planning},
	volume = {23},
	year = {2010},
	pages = {14},
	publisher = {23},
	abstract = {A new look at the financial literacy and sophistication of people 55 and older reveals the need for educational efforts targeted to specific demographics. Financial Literacy and Financial Sophistication in the Older Population: Evidence from the 2008 HRS, a University of Michigan Retirement Research Center working paper by Annamaria Lusardi, Olivia S. Mitchell, and Vilsa Curto, analyzes new data on financial literacy from the University of Michigan{\textquoteright}s 2008 Health and Retirement Study. According to the authors, their research suggests it may be particularly important to build retirement human capital through seminars, educational programs, and retirement planning products.},
	keywords = {Demographics, Net Worth and Assets, Other},
	author = {Anonymous}
}
@inbook {5191,
	title = {Lifetime Earnings Variability and Retirement Shortfalls},
	booktitle = {Retirement Provision in Scary Markets},
	year = {2007},
	note = {ProCite field 6 : In ProCite field 8 : ed.},
	pages = {78-99},
	publisher = {Edward Elgar},
	organization = {Edward Elgar},
	address = {Cheltenham:UK},
	keywords = {Net Worth and Assets},
	author = {Olivia S. Mitchell and John W R Phillips and Au, Andrew},
	editor = {Hazel Bateman}
}
@article {5660,
	title = {Savings, Portfolio Choice, and Retirement Expectations},
	year = {2006},
	institution = {The University of Michigan, Michigan Retirement Research Center},
	abstract = {Studying household investment behavior is essential for understanding the full consequences of old age social security benefits. Using data from six waves of the Health and Retirement Study, we analyze the dynamics of portfolio composition before respondents start claiming social security benefits. We consider ownership as well as amounts held of several types of assets and debts. Using panel data censored regression models, portfolio adjustment is explained on the basis of demographics like gender, race, and year of birth, education level, household income, and perceived social security entitlements. We find that expectations of old age social security benefits have little effect on portfolio decisions, although there is some evidence that higher expected social security benefits lead to more risky financial investments, particularly in IRAs.},
	keywords = {Consumption and Savings, Expectations, Net Worth and Assets},
	url = {http://hdl.handle.net/2027.42/49420},
	author = {Arthur H.O. vanSoest and Katpeyn Arie}
}
@article {5608,
	title = {The Marginal Propensity to Spend on Adult Children},
	year = {2004},
	institution = {New Haven, Connecticut, Yale University},
	abstract = {We examine how much of an extra dollar of parental lifetime resources will ultimately be passed on to adult children in the form of intervivos transfers and bequests. We infer bequests from the stock of wealth late in life. We use mortality rates and age specific estimates of the response of transfers and wealth to permanent income to compute the expected present discounted values of these responses to permanent income. Our estimates imply parents pass on between 2 and 3 cents out of an extra dollar of expected lifetime resources in bequests and about 1 cent in transfers. The estimates increase with parental income and are smaller for nonwhites. They imply that about 15 percent of the effect of parental income on lifetime resources of adult children is through transfers and bequests and about 85 percent is through the intergenerational correlation in earnings, although these estimates are sensitive to assumptions about the intergenerational earnings correlation, taxes, and the number of children. We compare our estimates to rough estimates of the marginal propensity to spend on children under 18 and higher education.},
	keywords = {Adult children, Net Worth and Assets},
	author = {Joseph G Altonji and Villanueva, Ernesto and Department of Economics}
}
@article {5606,
	title = {Modeling Lifetime Earnings Paths: Hypothetical versus Actual Workers},
	year = {2004},
	institution = {University of Pennsylvania, Boettner Center for Pe, Pension Research Council WP 2004-3},
	abstract = {To assess the distributional effects of social security reform proposals, it is essential to have good information on real-world workers  lifetime earnings trajectories. Until recently, however, policymakers have relied on hypothetical earnings profiles for policy analysis. We use actual lifetime earnings data from the Health and Retirement Study (HRS) to compare actual workers  covered earnings profiles to these hypothetical profiles. We show that the hypothetical profiles do not track earnings patterns of current retirees; thus lifetime pay levels are much higher than for most HRS workers. Therefore, using hypothetical profiles could misrepresent benefits paid and taxes collected under such reforms.},
	keywords = {Net Worth and Assets, Pensions, Social Security},
	author = {Olivia S. Mitchell and John W R Phillips and Au, Andrew}
}
@article {5565,
	title = {The Economic Consequences of Marital Disruption for Pre-Retirement Age African-American, Hispanic and Non-Hispanic White Women},
	year = {2003},
	institution = {Population Association of America},
	address = {Minneapolis, MN},
	keywords = {Adult children, Net Worth and Assets, Women and Minorities},
	author = {Jacqueline L. Angel and Cynthia J. Buckley and Ronald J. Angel and Maren A. Jimenez}
}
@article {5567,
	title = {Lifetime Earnings Variability and Retirement Wealth},
	number = {2003-051},
	year = {2003},
	institution = {Michigan Retirement Research Center at the University of Michigan, },
	address = {Ann Arbor, MI},
	abstract = {This paper explores how earnings variability is related to retirement wealth. Past research has demonstrated that the average American household on the verge of retirement would need to save substantially more, in order to preserve consumption flows in old age. While several socioeconomic factors have been examined that might explain such problems, prior studies have not assessed the role of earnings variability over the lifetime as a potential explanation for poor retirement prospects. Thus two workers having identical levels of average lifetime earnings might have had very different patterns of earnings variability over their lifetimes. Such differences could translate into quite different retirement wealth outcomes. This paper evaluates the effect of earnings variability on retirement wealth using information supplied by respondents to the Health and Retirement Study (HRS). This is a rich and nationally representative dataset on Americans on the verge of retirement, with responses linked to administrative records from the Social Security Administration. Our research illuminates the key links between lifetime earnings variability and retirement wealth.},
	keywords = {Income, Net Worth and Assets},
	doi = {https://dx.doi.org/10.2139/ssrn.1091441},
	author = {Olivia S. Mitchell and John W R Phillips and Au, Andrew and McCarthy, David}
}
@article {5547,
	title = {Retirement Wealth and Lifetime Earnings Variability},
	number = {WP2003-04},
	year = {2003},
	note = {RDA},
	institution = {University of Pennsylvania, Wharton School},
	address = {Philadelphia},
	abstract = {This paper explores understand how earnings variability influences peoples{\textquoteright} retirement preparedness by influencing their accumulated wealth levels as of retirement age. Prior research has demonstrated that the US average household nearing retirement would need to save substantially more in order to preserve consumption in old age. While some socioeconomic factors have been suggested that might explain shortfalls, previous studies have not assessed the role of earnings variability over the lifetime as a potential explanation for poor retirement prospects. Thus two workers having identical levels of average lifetime earnings might have had very different patterns of earnings variability over their lifetimes. Such differences could translate into quite different retirement wealth outcomes. We evaluate the effect of earnings variability on retirement wealth using information supplied by respondents to the Health and Retirement Study (HRS). This is a rich and nationally representative dataset on Americans on the verge of retirement, with responses linked to administrative records from the Social Security Administration. Our research illuminates key links between lifetime earnings variability and retirement wealth.},
	keywords = {Net Worth and Assets, Social Security},
	url = {https://pensionresearchcouncil.wharton.upenn.edu/publications/papers-2018/retirement-wealth-and-lifetime-earnings-variability/},
	author = {Olivia S. Mitchell and John W R Phillips and Au, Andrew and McCarthy, David}
}
@article {6756,
	title = {Duration or Disadvantage? Exploring Nativity, Ethnicity and Health in Midlife},
	journal = {The Journals of Gerontology: Social Sciences},
	volume = {56B},
	year = {2001},
	pages = {S275-285},
	publisher = {56B},
	abstract = {Objectives This study examined nativity as a risk factor for poor physical and emotional health for an ethnically diverse population making the transition into retirement. The authors addressed whether the health disadvantage observed for immigrants lessens with increased time spent in the country (supporting theories of assimilation) or increases with duration of residence (supporting theories of cumulative disadvantage). Methods The sample was drawn from Waves 1 and 2 of the Health and Retirement Study (HRS), an in-depth economic, social, and health database of persons in midlife and beyond. The analyses were restricted to 9,912 native-born and 1,031 foreign-born individuals. Results The data revealed that after socioeconomic factors were controlled, foreign-born individuals were at higher risk of poor emotional health than their native-born counterparts. Although aging immigrants displayed worse health than the native-born population, this disadvantage was mediated by duration of residence (young age at migration) and socioeconomic incorporation. Discussion These findings extend our understanding of nativity and duration as risk factors for poor physical and emotional health. Immigrants may overcome the nativity disadvantages found for emotional distress with increased duration of residence, but the pattern becomes more complicated with the inclusion of race and Hispanic ethnicity.},
	keywords = {Demographics, Employment and Labor Force, Health Conditions and Status, Net Worth and Assets, Women and Minorities},
	url = {http://psychsoc.gerontologyjournals.org/},
	author = {Jacqueline L. Angel and Cynthia J. Buckley and Sakamoto, Arthur}
}
@article {5436,
	title = {Technical progress and early retirement},
	year = {2001},
	institution = {Hebrew University of Jerusalem},
	keywords = {Employment and Labor Force, Net Worth and Assets},
	author = {Ahituv, Avner and Zeira, Joseph}
}
