@article {8349,
	title = {Prescription drug coverage and drug utilization: New evidence from the HRS prescription drug study},
	journal = {Journal of Economic and Social Measurement},
	volume = {41},
	year = {2016},
	pages = {49-65},
	publisher = {41},
	abstract = {The linking of detailed information on health, medical care, and insurance to economic outcomes is a central feature of data collection efforts in the economics of aging. In this paper, I use newly available linked panel data from a unique supplement to the Health and Retirement Study (HRS) known as the Prescription Drug Study (PDS) to examine the impact of insurance coverage on prescription drug utilization for those 65 and older. Fixed-effect estimates suggest that gaining coverage resulted in a 15  increase in utilization. Gaining coverage also was associated with a 20-50  reduction in the incidence of cost-related non-adherence. However, even among the uninsured, only a relatively small proportion of drugs (12 ) were associated with episodes of cost-related non-adherence.},
	keywords = {Healthcare, Insurance, Net Worth and Assets},
	doi = {10.3233/JEM-150418},
	author = {Gary V. Engelhardt}
}
@article {8344,
	title = {Psychological and Functional Vulnerability Predicts Fraud Cases in Older Adults: Results of a Longitudinal Study},
	journal = {CLINICAL GERONTOLOGIST},
	volume = {39},
	year = {2016},
	pages = {48},
	publisher = {39},
	abstract = {Using cross sectional data Psychological vulnerability was identified as a correlate of older adults being defrauded. We extend that research by examining fraud prevalence using longitudinal data from the Health and Retirement Study, and to identify the best predictors of fraud longitudinally across a 4-year time frame. Whereas reported fraud prevalence was 5.0  in a 5-year look-back period in 2008, it increased to 6.1  in 2012. The rate of new-incident fraud across only a 4-year look-back was 4.3 . Being younger-old, having a higher level of education, and having more depression significantly predicted the new cases of fraud reported in 2012. Psychological vulnerability was a potent longitudinal predictor of fraud, with the most vulnerable individuals being more than twice as likely to be defrauded. Results indicate that fraud victimization among older adults is rising, and that vulnerability variables, along with some demographic variables, predict new cases of fraud.},
	keywords = {Health Conditions and Status, Net Worth and Assets, Public Policy},
	author = {Peter A Lichtenberg and Sugarman, Michael A. and Daniel Paulson and Ficker, Lisa J. and Rahman-Filipiak, Annalise}
}
@article {8274,
	title = {Portfolio choice and risk attitudes: a household bargaining approach},
	journal = {Review of Economics of the Household},
	volume = {13},
	year = {2015},
	pages = {219-241},
	publisher = {13},
	abstract = {The goal of this study is to understand how the households decide on portfolio asset allocation when the husband and wife have different risk preferences. Using data from the Health and Retirement Study for 1992 2006, we show that the share of risky assets in portfolios of two-person households increases with the risk tolerance of the spouse who has more bargaining power. The risk tolerance of the spouse who has less bargaining power does not seem to affect the share of household wealth allocated to risky assets. These results are consistent with a cooperative bargaining framework where the investment in risky assets depends on the bargaining power of the more risk tolerant spouse.},
	keywords = {Adult children, Net Worth and Assets, Other, Risk Taking},
	doi = {10.1007/s11150-013-9207-8},
	url = {http://dx.doi.org/10.1007/s11150-013-9207-8},
	author = {Tansel Yilmazer and Lich, Stephen}
}
@mastersthesis {6318,
	title = {Patterns of dissaving among U.S. elders},
	volume = {3622193},
	year = {2014},
	note = {Copyright - Copyright ProQuest, UMI Dissertations Publishing 2014 Last updated - 2014-07-26 First page - n/a},
	month = {2014},
	pages = {169},
	school = {University of Massachusetts Boston},
	type = {Ph.D.},
	address = {Boston},
	abstract = {This paper examined patterns of decumulation and the role that health events and marital disruption play in forming those patterns. Study data were drawn from six biennial waves of the HRS (1998 - 2008), and merged RAND HRS data files for the period 1998-2008. The a priori expectation was that there will be variation in drawdown strategies households employ. Findings suggest that patterns of dissaving are heterogeneous. The five most prevalent patterns were discussed. Households predominantly transitioned between oversaving and overspending. Households are expected to have a goal of on target spending therefore the observed cycle{\textquoteright}s dissaving will influence the next cycle{\textquoteright}s draw down rate in an attempt to maintain a sustainable drawdown rate. Markov model results suggest that households do recalibrate their depletion rate as a function of their last depletion rate. This study hypothesized that the onset of a health condition or a spouse{\textquoteright}s admission to a nursing home would be associated with an excessive decumulation of assets. These hypotheses were unsupported by the research. Marital transitions as predictors of decumulation were only partially borne out by the results. Divorce was also expected to increase the likelihood of overspender however this relationship was not significant. Loss of spouse was associated with an increased likelihood of verspending. One of the major contributions of this study is the identification of patterns of dissaving in retirement. Various life course, demographic and decumulation factor variables were determinants of these patterns. Overall results suggest that elders have a difficult time managing to an on target drawdown. This study concludes with a national decumulation policy directive outline.},
	keywords = {Adult children, Consumption and Savings, Event History/Life Cycle, Healthcare, Net Worth and Assets, Public Policy},
	url = {http://search.proquest.com.proxy.lib.umich.edu/docview/1547725290?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+A\%26I\&rft_val_fmt=info:ofi/fmt:kev:mtx:dissertat},
	author = {Gray, Deborah}
}
@article {8068,
	title = {Patterns of Widowhood Mortality},
	journal = {The Journals of Gerontology Series B: Psychological Sciences and Social Sciences},
	volume = {69B},
	year = {2014},
	pages = {53-62},
	publisher = {69B},
	abstract = {Objectives. Becoming widowed is a known risk factor for mortality. This article examines the magnitude of, explanations for, and variation in the association between widowhood and mortality. Previous research on widowhood mortality has revealed variation by socioeconomic status (SES), in that SES is not protective in widowhood, and by gender, such that men s mortality increases more than women s mortality after the death of spouse.Method. Using data from the Health and Retirement Study, we estimated Cox proportional hazard models to estimate the association between widowhood and mortality.Results. Becoming widowed is associated with a 48  increase in risk of mortality. Approximately one third of the increase can be attributed to selection, in that those who become widows are socioeconomically disadvantaged. In contrast to previous studies, SES is protective for widows. Widowhood mortality risk increases for men if their wives  deaths were unexpected rather than expected; for women, the extent to which their husbands  death was expected matters less.Discussion. Widowhood s harmful association with mortality show how strongly social support and individual s health and mortality are related. These findings support the larger literature on the importance of social support for health and longevity.},
	keywords = {Adult children, Health Conditions and Status, Methodology, Net Worth and Assets},
	doi = {10.1093/geronb/gbt079},
	url = {http://psychsocgerontology.oxfordjournals.org/content/69B/1/53.abstract},
	author = {Allison R Sullivan and Andrew Fenelon}
}
@mastersthesis {6279,
	title = {Public policy and postsecondary education},
	volume = {3620452},
	year = {2014},
	note = {Copyright - Copyright ProQuest, UMI Dissertations Publishing 2014 Last updated - 2014-07-03 First page - n/a},
	month = {2014},
	pages = {142},
	school = {Syracuse University},
	type = {Ph.D.},
	address = {Syracuse, NY},
	abstract = {Chapter 1 . This paper presents estimates of the impact of educational saving incentives on college saving decisions from the Michigan SEED Program, a field experiment that targeted low-income families with young children. The treatment group was offered initial deposits of as much as $1,000 in the child{\textquoteright}s name into the state-sponsored 529 college savings plan when the child was 4 years old. Additional deposits by the treatment group were matched dollar for dollar. After four years, or when the children were 8 years old, 529 plan ownership was 59 percentage points higher for treatment- relative to control-group families. In addition, 22\% of treatment-group families contributed their own funds, and, among these, the average family contribution was $440 during that period. For every dollar saved in a 529 plan, total college saving increased 25-45 cents, indicating 55-75\% crowd-out. Chapter 2 . This paper presents estimates of the impact of student eligibility for federal financial aid on total student debt. I exploit a natural experiment created by the 1992 Amendment to the Higher Education Act of 1965, which removed assets from the calculation of federal aid eligibility for families with earned income of less than $50,000. Overall, my estimates suggest that expansions in federal student aid eligibility have large, significant effects on total undergraduate debt accumulation. Each dollar of federal aid eligibility increases student debt by about 40 cents. This relationship is due to new, rather than existing, borrowers. A $1,000 increase in eligibility is predicted to increase the ratio of debt to total price of attendance by 4 percentage points. I find that the effect of federal aid eligibility on debt is significantly higher for those with more exposure to higher education. Based on my central estimates, the expansion in aid eligibility caused by the 1992 Amendment is responsible for about one-third of the growth in total student debt from 1989-90 to 1993-94. Chapter 3 . The experimental and quasi-experimental literature finds few positive effects of financial education on financial behavior and wealth. I posit that the lack of measurable effects may be a result of the underlying relationship between financial literacy and asset accumulation. Theoretical literature suggests that financial education and traditional education are complements in the wealth production function, so the effect of financial education is conditional on years of schooling. To empirically test this theoretical hypothesis, I provide the first experimental evidence on the elasticity of substitution between traditional schooling and financial education in terms of wealth production in this paper. I am able to credibly identify this elasticity with data from the Learn$ave IDA program, a randomized control trial that exogenously shifted the costs of these inputs to wealth production. Using a dual translog cost function specification, I estimate an iterated 3SLS strategy to measure individual elasticities of substitution between wealth production inputs. The mean value of all of the individual estimated elasticities of substitution is greater than zero, indicating that, on average, the inputs are substitutes.},
	keywords = {Demographics, Education, Event History/Life Cycle, Net Worth and Assets, Pensions, Public Policy},
	url = {http://search.proquest.com.proxy.lib.umich.edu/docview/1538122964?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+A\%26I\&rft_val_fmt=info:ofi/fmt:kev:mtx:dissertat},
	author = {Dubnicki, Alissa L.}
}
@article {7793,
	title = {Precautionary Savings Against Health Risks: Evidence From the Health and Retirement Study},
	journal = {Research on Aging},
	volume = {36},
	year = {2013},
	pages = {180-206},
	publisher = {36},
	abstract = {The precautionary savings model predicts that households accumulate wealth to self-insure against unexpected declines in future income and unforeseen expenditures. The goals of this study are twofold. First, we investigate whether the near-elderly who face higher health risks save more. Second, we examine the factors that contribute to health risks that the near-elderly face. We use data from the Health and Retirement Study to construct two measures of health risks. Our results do not support the hypothesis that household savings increase with the health risks that they face. Individuals who confront higher health risks in the future are those who are already in fair or poor health status or those who have a health condition such as diabetes or lung disease. Lower earnings and high medical expenditures caused by current poor health status prevent households from accumulating savings for future health adversities.},
	keywords = {Consumption and Savings, Health Conditions and Status, Healthcare, Net Worth and Assets},
	doi = {10.1177/0164027512473487},
	url = {http://roa.sagepub.com/content/early/2013/01/22/0164027512473487},
	author = {Tansel Yilmazer and Scharff, R. L.}
}
@article {7864,
	title = {Is Psychological Vulnerability Related to the Experience of Fraud in Older Adults?},
	journal = {Clinical Gerontologist},
	volume = {36},
	year = {2013},
	note = {Times Cited: 0},
	pages = {132-146},
	publisher = {36},
	abstract = {Financial exploitation, and particularly thefts and scams, are increasing at an alarming rate. In this study we (a) determined the national prevalence of older adults who report having been a victim of fraud, (b) created a population-based model for the prediction of fraud, and (c) examined how fraud is experienced by the most psychologically vulnerable older adults. The older adults studied were 4,400 participants in a Health and Retirement Study substudy, the 2008 Leave Behind Questionnaire. The prevalence of fraud across the previous 5 years was 4.5 . Among measures collected in 2002, age, education, and depression were significant predictors of fraud. Financial satisfaction and social-needs fulfillment were measured in 2008 and were significantly related to fraud above and beyond the 2002 predictors. Using depression and social-needs fulfillment to determine the most psychologically vulnerable older adults, we found that fraud prevalence was three times higher (14 ) among those with the highest depression and the lowest social-needs fulfillment than among the rest of the sample (4.1 ; 2 = 20.49; p   .001). Clinical gerontologists and other professionals in the field need to be aware of their psychologically vulnerable clients{\textquoteright} heightened exposure to financial fraud.},
	keywords = {Health Conditions and Status, Net Worth and Assets, Other, Public Policy},
	doi = {10.1080/07317115.2012.749323},
	author = {Peter A Lichtenberg and Stickney, Laurie and Daniel Paulson}
}
@article {7869,
	title = {Psychosocial factors and financial literacy},
	journal = {Social security bulletin},
	volume = {73},
	year = {2013},
	note = {Times Cited: 0},
	pages = {73-81},
	publisher = {73},
	abstract = {This study uses data from the Health and Retirement Study (HRS) to analyze the psychological and social variables associated with financial literacy. The HRS is a nationally representative longitudinal survey of individuals older than age 50 and their spouses. An ordinary least squares linear regression analysis explores the relationship between financial literacy and several economic and psychosocial variables. After controlling for earnings, level of education, and other socioeconomic variables in this exploratory study, I find that financial satisfaction and religiosity are correlated with financial literacy.},
	keywords = {Demographics, Net Worth and Assets},
	author = {Murphy, John L.}
}
@mastersthesis {6250,
	title = {Pensions and Household Saving in The United States},
	volume = {Ph.D.},
	year = {2012},
	note = {Savings 0501: Economics Aging 66569 69042902 0630: Public policy n/a Social sciences 9781267525628 Chang, Fei-Chien Social Security English 0493: Aging Pensions 2012-09-04 Wealth accumulation Copyright ProQuest, UMI Dissertations Publishing 2012 Earnings test 2012 3521443 2741712321 Health and environmental sciences 1034568586},
	pages = {98},
	school = {University of Washington},
	type = {3521443},
	address = {United States -- Washington},
	abstract = {The goal of this research is to examine the effects of employer-provided pensions and Social Security on household saving in the United States. Current interest has intensified because of increasing concerns about insufficient saving for retirement, a trend in pensions from defined benefit to defined contribution plans, and a projected financial shortfall in Social Security. Specifically, the debate about whether higher pension benefits "crowd out" private saving has come under sharper focus among researchers and policymakers. If there is a full offset effect of pensions on private saving, then policies targeted to raise pension wealth may not necessarily increase overall retirement saving because households will decrease their private wealth accumulation instead. Three methodologies were employed in Chapters 2 through 4 to empirically identify the offset effects using improved data in the Health and Retirement Study (HRS). Chapter 2 presents a cross-sectional analysis in 1992. The findings show a significant but not dollar-for-dollar crowding-out effect for employer-provided defined benefit pensions and little to no offset effect for defined contribution pension and Social Security. To overcome the estimation problems such as unobserved omitted variables and insufficient variation in Social Security wealth when conducting a cross-sectional analysis, I utilize the panel structure of HRS and the recent Social Security reforms to introduce independent variation in pension wealth over time. A panel analysis using HRS data from year 1992, 1998, and 2004 is presented in Chapter 3. The panel analysis shows a statistically significant full offset effect between pensions and private saving in some specifications. Chapter 4 presents the effects of Social Security benefits withheld under the earnings test on household saving. I find evidence for a full offset effect between household saving and benefit withholding under the earnings test for those aged between 62 and normal retirement age and those with higher educational attainment. In summary, this research supports the theory that pensions crowd out private wealth accumulation.},
	keywords = {Consumption and Savings, Health Conditions and Status, Net Worth and Assets, Pensions, Public Policy, Social Security},
	url = {http://search.proquest.com.proxy.lib.umich.edu/docview/1034568586?accountid=14667},
	author = {Chang, Fei-Chien}
}
@article {5947,
	title = {Personality Traits and Economic Preparation for Retirement},
	number = {wp279},
	year = {2012},
	institution = {Michigan Retirement and Disability Research Center, University of Michigan},
	address = {Ann Arbor, MI},
	abstract = {This paper assesses the effects of personality traits on economic preparation for retirement, wealth accumulation, and consumption, among persons 66 to 69 years of age. Among the five chief personality traits of neuroticism, extroversion, agreeableness, conscientiousness, and openness, we focus most on conscientiousness. We find levels of adequate economic preparation for retirement ranging  from 29 percent to 90 percent and that conscientiousness positively affects the proportion of persons adequately prepared for retirement, while neuroticism negatively affects it. Both consumption and wealth increase with conscientiousness but wealth increases faster, indicating that more conscientious persons save more out of retirement resources.},
	keywords = {Consumption and Savings, Health Conditions and Status, Net Worth and Assets, Retirement Planning and Satisfaction},
	url = {https://ideas.repec.org/p/mrr/papers/wp279.html},
	author = {Michael D Hurd and Angela Lee Duckworth and Susann Rohwedder and David R Weir}
}
@article {7578,
	title = {Pensions and Household Wealth Accumulation},
	journal = {The Journal of Human Resources},
	volume = {46},
	year = {2011},
	pages = {203-236},
	publisher = {46},
	abstract = {Economists have long suggested that higher private pension benefits  crowd out  other sources of household wealth accumulation. We exploit detailed information on pensions and lifetime earnings for older workers in the 1992 wave of the Health and Retirement Study and employ an instrumental-variable (IV) identification strategy to estimate crowd-out. The IV estimates suggest statistically significant crowd-out: each dollar of pension wealth is associated with a 53 67 cent decline in nonpension wealth. With less precision, we use an instrumental-variable quantile regression estimator and find that most of the effect is concentrated in the upper quantiles of the wealth distribution.},
	keywords = {Adult children, Employment and Labor Force, Methodology, Net Worth and Assets, Pensions},
	url = {https://www.jstor.org/stable/25764809},
	author = {Gary V. Engelhardt and Kumar, Anil}
}
@article {5918,
	title = {Personality and Response to the Financial Crisis},
	number = {UM11-09},
	year = {2011},
	institution = {The University of Michigan},
	address = {Ann Arbor, MI},
	abstract = {In a previous study, we found the family of personality traits known as conscientiousness to be associated in cross-sectional analyses with both lifetime earnings and wealth. In this study, we used data from an Internet survey of HRS respondents in the second quarter of 2009 to test whether conscientiousness and other Big Five factors prospectively predicted responses to the financial crisis of 2008/09. In addition, to improve the targeting and design of behavioral interventions for  at-risk  individuals, we examined two specific facets of conscientiousness (i.e., self-control and perseverance) that may be more highly related to these economic outcomes than other facets. Finally, we used data from the Consumption and Activities Mail Survey (CAMS) to examine whether personality is related to the proportion of income saved vs. spent.  Missing data precluded sufficiently powerful prospective analyses of personality and responses to the financial crisis. Likewise, data on self-control and perseverance from the 2010 experimental module were not sufficient at the time of final reporting to come to definitive conclusions about how these facets relate to economic outcomes. We did find that conscientious adults save more and spend less of their incomes, whereas adults who are higher in openness to experience (e.g., adventurous, sophisticated) save less and spend more of their income. The robust associations between conscientiousness and economic outcomes suggests further investigation of interventions that improve conscientiousness as well as policies that specifically target less conscientious individuals (e.g., default choices for retirement savings).},
	keywords = {Health Conditions and Status, Net Worth and Assets, Public Policy},
	url = {https://mrdrc.isr.umich.edu/projects/personality-and-response-to-the-financial-crisis/},
	author = {Angela Lee Duckworth and David R Weir}
}
@book {5284,
	title = {Pensions in the Health and Retirement Study},
	year = {2010},
	publisher = {Harvard University Press},
	organization = {Harvard University Press},
	address = {Cambridge and London},
	abstract = {Draws evidence from the National Institute on Aging{\textquoteright}s Health and Retirement Study to examine the pensions held by those approaching retirement age in the United States. Discusses theories explaining pensions; employment and retirement in the Health and Retirement Study; pension data in the Health and Retirement Study; pension plan participation in the Health and Retirement Study; pension plan type; imperfect knowledge of pension plan type; pension retirement ages; pension values; retirement incentives from defined benefit pensions; disposition of pensions upon leaving a job and pension incomes in retirement; and the changing role of pensions in total wealth.},
	keywords = {Employment and Labor Force, Net Worth and Assets, Pensions, Retirement Planning and Satisfaction},
	url = {https://www.hup.harvard.edu/catalog.php?isbn=9780674048669\&content=toc},
	author = {Alan L Gustman and Thomas L. Steinmeier and N. Tabatabai}
}
@article {5821,
	title = {Psychological Adjustment To Widowhood: The Role Of Income, Wealth And Time},
	year = {2010},
	institution = {Society of Actuaries Pension Section Research Committee},
	abstract = {This paper uses data from two longitudinal surveys to examine the relationship between
psychological well-being and financial well-being of older women and men, with specific
interest in differences by marital status and duration of widowhood. The Wisconsin
Longitudinal Study (WLS) provides a look at the consequences of relatively early
widowhood. The Health and Retirement Study (HRS) has interviewed a representative
sample of individuals 50 and older over the last two decades. We use the data from that
survey to examine the adjustment to widow(er)hood over a larger age range, but with likely
less precision to measure differences among women of a single age.},
	keywords = {Net Worth and Assets, Women and Minorities},
	url = {https://www.soa.org/globalassets/assets/Files/Research/Projects/research-2010-widowhood.pdf},
	author = {Karen C. Holden and Jeungkun Kim and Beatriz Novak}
}
@article {5742,
	title = {Portfolio Choice in Retirement: Health Risk and the Demand for Annuities, Housing and Risky Assets},
	number = {WP$\#$2009-3},
	year = {2009},
	institution = {Center for Retirement Research at Boston College},
	address = {Boston},
	abstract = {This paper develops a consumption and portfolio-choice model of a retiree who allocates wealth among four assets: a riskless bond, a risky asset, a real annuity, and housing. Unlike previous studies that treat health expenditures as exogenous negative income shocks, this paper builds on the Grossman model to endogenize health expenditures as investments in health. I calibrate the model to explain the joint evolution of health status and the composition of wealth for retirees, aged 65 to 96, in the Health and Retirement Study. I use the calibrated model to assess the welfare gains of an actuarially fair annuity market. The welfare gain is less than 1  of wealth for the median-health retiree at age 65, and the welfare gain is about 10  of wealth for the healthiest.},
	keywords = {Health Conditions and Status, Methodology, Net Worth and Assets},
	url = {https://crr.bc.edu/working-papers/portfolio-choice-in-retirement-health-risk-and-the-demand-for-annuities-housing-and-risky-assets/},
	author = {Yogo, Motohiro}
}
@article {7220,
	title = {Partial Identification of Probability Distributions with Misclassified Data},
	journal = {Journal of Econometrics},
	volume = {144},
	year = {2008},
	pages = {81},
	publisher = {144},
	abstract = {This paper addresses the problem of data errors in discrete variables. When data errors occur, the observed variable is a misclassified version of the variable of interest, whose distribution is not identified. Inferential problems caused by data errors have been conceptualized through convolution and mixture models. This paper introduces the direct misclassification approach. The approach is based on the observation that in the presence of classification errors, the relation between the distribution of the {\textquoteright}true{\textquoteright} but unobservable variable and its misclassified representation is given by a linear system of simultaneous equations, in which the coefficient matrix is the matrix of misclassification probabilities. Formalizing the problem in these terms allows one to incorporate any prior information into the analysis through sets of restrictions on the matrix of misclassification probabilities. Such information can have strong identifying power. The direct misclassification approach fully exploits it to derive identification regions for any real functional of the distribution of interest. A method for estimating the identification regions and construct their confidence sets is given, and illustrated with an empirical analysis of the distribution of pension plan types using data from the Health and Retirement Study.},
	keywords = {Methodology, Net Worth and Assets},
	doi = {https://doi.org/10.1016/j.jeconom.2007.12.003},
	author = {Molinari, Francesca}
}
@article {5708,
	title = {Pension Wealth and Income: 1992, 1998, and 2004},
	number = {IB$\#$8-1},
	year = {2008},
	institution = {Center for Retirement Research at Boston College},
	address = {Boston},
	abstract = {What is the impact of the shift from defined benefit to defined contribution plans on the pension wealth of households approaching retirement?  Using data from the Health and Retirement Study, this brief documents this shift and compares employer-sponsored pension wealth across households with heads age 51-56 in 1992, 1998, and 2004.  The results show that, for the average household, both pension wealth and replacement rates   the ratio of annual benefits to pre-retirement earnings   fell between 1992 and 2004.},
	keywords = {Net Worth and Assets, Pensions},
	url = {https://crr.bc.edu/briefs/pension-wealth-and-income-1992-1998-and-2004/},
	author = {Sorokina, Olga and Anthony Webb and Muldoon, Dan}
}
@article {5707,
	title = {Planning and Financial Literacy: How do women fare?},
	number = {13750},
	year = {2008},
	institution = {National Bureau of Economic Research},
	address = {Cambridge, MA, },
	abstract = {Many older US households have done little or no planning for retirement, and there is a substantial population that seems to undersave for retirement. Of particular concern is the relative position of older women, who are more vulnerable to old-age poverty due to their longer longevity. This paper uses data from a special module we devised on planning and financial literacy in the 2004 Health and Retirement Study. It shows that women display much lower levels of financial literacy than the older population as a whole. In  addition, women who are less financially literate are also less likely to plan for retirement and be successful planners.  These findings have important implications for policy and for programs aimed at fostering financial security at older ages.},
	keywords = {Net Worth and Assets, Retirement Planning and Satisfaction, Women and Minorities},
	doi = {10.3386/w13750},
	author = {Annamaria Lusardi and Olivia S. Mitchell}
}
@article {5722,
	title = {Preparation for Retirement, Financial Literacy and Cognitive Resources},
	number = {190},
	year = {2008},
	institution = {Michigan Retirement Research Center, University of Michigan},
	address = {Ann Arbor, MI},
	abstract = {Traditional economic models assume that individuals have full information and act perfectly rationally. However, we show that there is considerable variation in financial literacy in the population and propose modeling the acquisition of financial knowledge in a human capital production framework. The model makes several predictions, notably with respect to portfolio choice. For example, it helps explain household non-participation in the stock market for some fraction of the population, and it provides guidance about the share of risky assets to hold for other types of households. Estimation of the human capital production function for financial knowledge on data from the Cognitive Economics Survey yields results that are consistent with important features of the model},
	keywords = {Methodology, Net Worth and Assets},
	url = {https://ideas.repec.org/p/mrr/papers/wp190.html},
	author = {Delavande, Adeline and Susann Rohwedder and Robert J. Willis}
}
@article {5694,
	title = {Projecting Behavioral Responses to the Next Generation of Retirement Policies},
	number = {UM05-02},
	year = {2007},
	institution = {Michigan Retirement and Disability Research Center, University of Michigan},
	address = {Ann Arbor, MI},
	abstract = {This paper examines retirement and related behavioral responses to policies that on average are actuarially neutral. Many conventional models predict that actuarially neutral policies will not affect retirement behavior. In contrast, our model allows those with high time preference rates to find that the promise of an actuarially fair increase in future rewards does not balance the loss from foregone current benefits. Using data from the Health and Retirement Study, we find that from age 62 through full retirement age, the earnings test reduces full-time work by married men by about four percentage points, or by about ten percent of married men at full-time work. Abolishing the requirements on many jobs that an individual work full-time or not at all, what we term a minimum hours constraint on employment, would induce more than twice as many people to enter partial retirement as would leave full-time work, so that total full-time equivalent (FTE) employment would increase, although by a modest amount. If all benefits from personal accounts could be taken as a lump sum, the fraction not retired at age 62 would fall by about 5 percentage points compared to a system where there is mandatory annuitization of benefits.},
	keywords = {Employment and Labor Force, Net Worth and Assets, Retirement Planning and Satisfaction},
	url = {https://mrdrc.isr.umich.edu/pubs/projecting-behavioral-responses-to-the-next-generation-of-retirement-policies/},
	author = {Alan L Gustman and Thomas L. Steinmeier}
}
@article {7094,
	title = {The Persistence of Depressive Symptoms in Older Workers Who Experience Involuntary Job Loss: Results from the Health and Retirement Study},
	journal = {Journals of Gerontology, Series B: Psychological and Social Sciences},
	volume = {61},
	year = {2006},
	pages = {S221-8},
	publisher = {61},
	abstract = {Objectives. The purpose of this study was to investigate the association between involuntary job loss among workers nearing retirement and long-term changes in depressive symptoms. Methods. Analyzing data from the first four waves (1992 1998) of the Health and Retirement Survey, we used longitudinal multiple regression in order to assess whether involuntary job loss between Wave 1 and Wave 2 was associated with depressive symptoms at Wave 3 and Wave 4. The study sample included 231 workers who had experienced job loss in the Wave 1 Wave 2 interval and a comparison group of 3,324 nondisplaced individuals. We analyzed the effect of job loss on depressive symptoms both in the full study sample and in subsamples determined by wealth. Results. Among individuals with below median net worth, Wave 1 Wave 2 involuntary job loss was associated with increased depressive symptoms at Wave 3 and Wave 4. We found no effect of involuntary job loss for high net worth individuals at the later survey waves. Discussion. Our findings identify older workers with limited wealth as an important group for which the potential effect of involuntary job separation in the years preceding retirement is ongoing (enduring) adverse mental health.},
	keywords = {Employment and Labor Force, Health Conditions and Status, Net Worth and Assets},
	author = {William T Gallo and Elizabeth H Bradley and J. A. Dubin and Richard N Jones and Tracy Falba and Teng, H.M. and Stanislav V Kasl}
}
@article {6937,
	title = {Portfolio Risk and Self-Directed Retirement Saving Programmes},
	journal = {The Economic Journal},
	volume = {114},
	year = {2004},
	pages = {C26-C51},
	publisher = {114},
	abstract = {Defined contribution retirement plans expose retirement savers to financial market risks. This paper explores the costs of retirement wealth risk. It begins by describing the holding of company stock in 401(k) plans in the US, an investment choice that yields a poorly diversified retirement portfolio. It then summarises the composition of household wealth at retirement and investigates how the degree of diversification in retirement assets affects expected utility. The cost of holding a poorly diversified retirement portfolio is very sensitive to whether or not the retirement saver has other assets that provide a floor for retirement consumption.},
	keywords = {Net Worth and Assets, Pensions},
	author = {James M. Poterba}
}
@article {5570,
	title = {Planning and Saving for Retirement},
	year = {2003},
	note = {RDA 1998-002},
	institution = {Dartmouth College, Dept. of Economics},
	abstract = {There are vast differences in wealth holdings, even among households in similar age groups.  In addition, a large percentage of U.S. households arrive close to retirement with little or no wealth.  While many explanations can be found to rationalize these facts, approximately thirty percent of households whose head is close to retirement have done little or no planning for retirement.      Planning is shaped by the experience of other individuals: individuals learn to plan for retirement from older siblings.  They also learn from the experience of old parents.  In particular, unpleasant events, such as financial difficulties and health shocks at the end of life, provide incentives toward planning.  In addition, planning affects wealth levels as well as portfolio choice.  Individuals who plan are more likely to hold large amounts of wealth and to invest their wealth holdings in high return assets, such as stocks.  Thus, planning plays an important role in explaining the saving behavior of many households.},
	keywords = {Methodology, Net Worth and Assets, Retirement Planning and Satisfaction},
	url = {https://www.dartmouth.edu/~alusardi/Papers/Lusardi_pdf.pdf},
	author = {Annamaria Lusardi}
}
@article {5535,
	title = {Portfolio Choice and Health Status},
	number = {w9453},
	year = {2003},
	note = {ProCite field 22 : 4 ProCite field 24 : 4},
	institution = {The National Bureau of Economic Research},
	address = {Cambridge, MA},
	abstract = {This paper analyzes the role that health status plays in household portfolio decisions using data from the Health and Retirement Study. The results indicate that health is a significant predictor of both the probability of owning different types of financial assets and the share of financial wealth held in each asset category. Households in poor health are less likely to hold risky financial assets, other things (including the level of total wealth) being the same. Poor health is associated with a smaller share of financial wealth held in risky assets and a larger share in safe assets. We find no evidence that the relationship between health status and portfolio allocation is driven by {\textquoteright}third variables{\textquoteright} that simultaneously affect health and financial decisions. Further, the relationship between health status and portfolio choice does not appear to operate through the effect of poor health on individuals{\textquoteright} attitudes toward risk, their planning horizons, or their health insurance status.},
	keywords = {Health Conditions and Status, Net Worth and Assets},
	url = {http://papers.ssrn.com/paper.taf?abstract_id=375305},
	author = {Rosen, Harvey S. and Stephen Wu}
}
@article {5577,
	title = {Private Pensions:  Participants Need Information on Risks They Face in Managing Pension Assets at and during Retirement},
	year = {2003},
	institution = {Washington, DC, U.S. General Accounting Office},
	abstract = {Question:  Individuals face increasing responsibility for ensuring the sufficiency of their retirement savings, a result of the continuing trend toward pension plans with individual accounts and longer life expectancies.    Finding: Using the NIA-funded Health and Retirement Study, GAO found that while plan sponsors provide timely information about payout options (e.g., lump-sum versus annuity) and that many plans offer both lump-sum and annuity options, there is little discussion regarding the relative risks of the available options, as well as the risk of outliving one s savings.  While many retirees received annuities (60 percent), a large proportion that had the option of annuitizing chose instead to receive a lump-sum distribution.    Recommendation:  More effort is needed to increase public awareness of the risks associated with various options for pension distributions and the implications of choosing one option versus another for the likelihood of outliving one s retirement savings.},
	keywords = {Consumption and Savings, Net Worth and Assets, Pensions, Retirement Planning and Satisfaction},
	url = {https://www.gao.gov/products/GAO-03-810},
	author = {United States General Accounting Office}
}
@article {6799,
	title = {Pre-Retirement Lump-Sum Pension Distributions and Retirement Income Security: Evidence from the Health and Retirement Study},
	journal = {National Tax Journal},
	volume = {55},
	year = {2002},
	pages = {665-},
	publisher = {55},
	abstract = {This paper uses the Health and Retirement Study to examine the extent of retirement wealth erosion from pre-retirement lump-sum pension distributions. There is little evidence that spent distributions have resulted in significant pension leakage.  If spent distributions had been rolled over into a tax-qualified plan, they would have represented 5-11 percent of pension and Social Security wealth for the median household that spent a distribution. However, one-quarter of the households that spent distributions--which is 2.25 percent of all households age 51 to 61--could have increased retirement wealth by 25 percent or more had the distributions been rolled over.},
	keywords = {Methodology, Net Worth and Assets, Pensions},
	url = {https://www.jstor.org/stable/41789634},
	author = {Gary V. Engelhardt}
}
@article {5452,
	title = {Planning for Retirement: The Accuracy of Expected Retirement Dates and the Role of Health Shocks},
	number = {2001-8},
	year = {2001},
	institution = {Boston College},
	address = {Boston},
	abstract = {This paper illustrates the effect that unexpected health changes could have on a person s retirement decision and future.  It is believed by the researchers that retirement age is something that a person decides over the course of their life by thinking of many factors that could influence their welfare in retirement.  An economic model is designed in order to understand possible effects of different factors and health shocks on retirement age.  Various policies and retirement plans are examined along with in-depth econometric and strategic models.  Health prevailed as a key predictor in ones retirement decision. The occurrence of a shock in ones health normally forces the worker to retire sooner than had been anticipated.  Net worth, social security, and pension plans are all important in making the initial retirement plan, but have little effect on the outcomes based on the plan.},
	keywords = {Net Worth and Assets, Pensions, Retirement Planning and Satisfaction},
	url = {https://crr.bc.edu/working-papers/planning-for-retirement-the-accuracy-of-expected-retirement-dates-and-the-role-of-health-shocks/},
	author = {Debra S. Dwyer}
}
@article {5459,
	title = {The Potential Effects of Cash Balance Plans on the Distribution of Pension Wealth at Midlife},
	year = {2001},
	institution = {The Urban Institute},
	address = {Washington, D.C.},
	abstract = {Recent pension plan conversions by numerous large employers have sparked debate about the merits of cash balance plans. This paper compares pension wealth in traditional defined benefit (DB) plans and cash balance plans for a national sample of covered Americans ages 51 to 61. The simulations indicate that replacing DB plans with cash balance plans would redistribute pension wealth from those who held long-term jobs for many years to those with multiple short-term jobs. Women at midlife in 1992 with DB coverage would have lost wealth in cash balance plans, but future cohorts of women are likely to fare better.},
	keywords = {Net Worth and Assets, Pensions},
	url = {https://www.urban.org/research/publication/potential-effects-cash-balance-distribution-pension-wealth-midlife},
	author = {Richard W. Johnson and Cori E. Uccello}
}
@inbook {5173,
	title = {Predictors of Mortality among the Elderly},
	booktitle = {Themes in the Economics of Aging},
	year = {2001},
	note = {ProCite field 8 : ed.},
	publisher = {Univ. of Chicago Press},
	organization = {Univ. of Chicago Press},
	address = {Chicago},
	abstract = {This paper examines the quantitative importance of some predictors of mortality among the population aged 70 and over. As expected, this research confirms that socioeconomic status is  related to mortality. This relationship is strong at younger ages and appears to weaken as the cohort gets older. The 13 health indicators are also strong predictors of mortality.  Results also show that subjective probabilities of survival predict mortality and remain strong predictors even after controlling for socioeconomic indicators and health conditions.},
	keywords = {Demographics, Expectations, Health Conditions and Status, Net Worth and Assets},
	url = {https://www.nber.org/papers/w7440},
	author = {Michael D Hurd and Daniel McFadden and Merrill, Angela},
	editor = {David A Wise}
}
@inbook {5177,
	title = {Preretirement Cashouts and Foregone Retirement Saving: Implications for 401(k) Asset Accumulation},
	booktitle = {Themes in the Economics of Aging},
	year = {2001},
	note = {RDA 1999-002 Wise ProCite field 6 : In ProCite field 8 : ed},
	pages = {23-58},
	publisher = {University of Chicago Press},
	organization = {University of Chicago Press},
	address = {Chicago, IL},
	keywords = {Consumption and Savings, Net Worth and Assets, Pensions},
	url = {https://www.nber.org/chapters/c10320},
	author = {James M. Poterba and Steven F Venti and David A Wise},
	editor = {David A Wise}
}
@article {6755,
	title = {Private Pensions, Mortality Risk, and the Decision to Annuitize},
	journal = {Journal of Public Economics},
	volume = {82},
	year = {2001},
	publisher = {82},
	keywords = {Net Worth and Assets, Pensions},
	doi = {10.1016/S0047-2727(00)00152-3},
	author = {Brown, Jeffrey R.}
}
@article {5427,
	title = {Patterns of Dissaving in Retirement},
	number = {2000-10},
	year = {2000},
	institution = { AARP Public Policy Institute},
	address = {Washington, D.C.},
	abstract = {Abstract:  Examined patterns of dissaving among households with at least one older adult. Data were obtained from the Social Security Administration{\textquoteright}s New Beneficiary Data System (NBDS) on older adults (mainly those aged 62-65) who received Social Security benefits for the first time in 1980-1981 and who were interviewed in 1982 and 1991. Data were also obtained from the 1993 and 1995 waves of the National Institute on Aging{\textquoteright}s Asset and Health Dynamics Among the Oldest Old (AHEAD) survey of adults aged 70 and older. Multivariate analyses indicated that changes in wealth were fairly flat in the 1980s (based on NBDS data), with mean wealth growing just under one percent per year for the 9 years of the sample period, while median wealth declined by about one-quarter of a percentage point per year. The AHEAD data from the 1990s suggest that most adults aged 70 and older enjoyed wealth increases, which in large part were due to the dramatic rise in stock prices over the 2 years of the survey period. Overall, there was increasing wealth inequality, with less well off households dissaving more rapidly than better off households. Households in which health declined between the waves studied were more likely to dissave. Savings patterns of households with and without children were fairly similar. Two appendixes provide information on the study methodology and additional data tables},
	keywords = {Consumption and Savings, Net Worth and Assets, Retirement Planning and Satisfaction},
	url = {https://assets.aarp.org/rgcenter/econ/2000_10_dissaving.pdf},
	author = {Steven Haider and Michael D Hurd and Reardon, Elaine and Williamson, Stephanie}
}
@article {8435,
	title = {Patterns: When Obesity Comes With a Price Tag},
	journal = {The New York Times},
	year = {2000},
	month = {November 28, 2000},
	publisher = {The New York Times Co.},
	address = {New York, NY},
	keywords = {Health Conditions and Status, Net Worth and Assets},
	author = {Nagourney, Eric}
}
@article {6676,
	title = {Pension Wealth at Midlife: Comparing Self-Reports with Provider Data},
	journal = {Review of Income and Wealth},
	volume = {461},
	year = {2000},
	note = {ProCite field 3 : Urban Institute; Rutgers U; Rutgers U},
	pages = {59-83},
	publisher = {461},
	abstract = {This paper evaluates the accuracy of estimates of pension wealth based on self-reports by comparing them to estimates based on provider data.  Using data from the Health and Retirement Study, we found that few workers are well informed about their future pension benefits.  Self-reports were often incomplete and typically varied widely from those based on information from providers. In defined benefit (DB) plans, discrepancies were greatest for workers who had limited education, earned low wages, and did not expect to retire soon.  Differences in median pension wealth were smaller at the aggregate level than the individual level, because individual differences tended to offset each other when aggregated. Provider data appear better than self-reports for DB plans, but not for defined contribution (DC) plans.  Where both are available, the best method of computing pension wealth may be to estimate DB wealth from provider data and to estimate DC wealth from self -reports.},
	keywords = {Employment and Labor Force, Methodology, Net Worth and Assets, Pensions, Retirement Planning and Satisfaction},
	doi = {10.1111/j.1475-4991.2000.tb00391.x},
	author = {Richard W. Johnson and Sambamoorthi, Usha and Crystal, Stephen}
}
@article {6695,
	title = {Pensions and Retiree Health Benefits In Household Wealth: Changes From 1969 to 1992},
	journal = {Journal of Human Resources},
	volume = {35},
	year = {2000},
	note = {RDA 1996-005},
	pages = {30-50},
	publisher = {35},
	keywords = {Medicare/Medicaid/Health Insurance, Net Worth and Assets, Pensions},
	doi = {10.2307/146355},
	author = {Alan L Gustman and Thomas L. Steinmeier}
}
@article {5419,
	title = {Pensions and Wealth: New Evidence from the Health and Retirement Study},
	year = {2000},
	institution = {Dept. of Economics, University of Wisconsin-Madison},
	keywords = {Net Worth and Assets, Pensions},
	author = {Khitatrakun, Surachai and Kitamura, Yuichi and John Karl Scholz}
}
@mastersthesis {6278,
	title = {Potential to Privately Pay for Long-Term Care Services},
	year = {2000},
	month = {2000},
	school = {Syracuse University},
	abstract = {Financing long-term care for the elderly has become an issue of public versus private financing. As proposals to cut public spending are discussed, alternative methods for financing long-term care services need to be introduced. This study addresses the usage of long-term care insurance and reverse mortgages as alternative financing methods. Using the Assets and Health Dynamics of the Oldest-Old, I establish who received long-term care services and how they paid for such services. Next, I examine alternative financing methods to determine which elderly would qualify. Finally, I adjust the criteria of inclusion to increase the beneficiary group of each payment method. I find that both reverse mortgages and long-term care insurance benefit certain groups of individuals. Reverse mortgage beneficiaries included those elderly with large equity in their housing. Using a $30,000 or more home equity, I illustrate that a reverse mortgage would not cover the cost of one year in a nursing home for many elderly. Long-term care insurance, on the other hand, would benefit a majority of elderly individuals, although adjustments need to be made in the insurance market. Individuals with ADL limitations or disease conditions must be allowed to purchase such policies. Insurance premium costs need to be supplemented for those individuals who can not afford them. Individuals between the ages of 80 and 84 must also be considered for insurance policies. My results support the argument that policy discussions concerning long-term care financing should focus on three groups of elderly. Public payers are a group of elderly who rely heavily on Medicaid to cover the costs of their long-term care services. Private payers are those elderly with high incomes and assets who are financially capable of sustaining their long-term care needs. Gappers are those elderly with income and asset levels too high to qualify for Medicaid and too low to pay for their care out-of-pocket. This study indicates that the most beneficiary alternative financing method for gappers is long-term care insurance. The industry is still young, and now is the time to take a stance and make long-term care insurance the solution to financing long-term care.},
	keywords = {Healthcare, Net Worth and Assets},
	author = {Dougherty, Deborah D.}
}
@article {5418,
	title = {Precautionary Saving and the Accumulation of Wealth},
	year = {2000},
	note = {RDA 1998-002},
	institution = {Dartmouth College},
	abstract = {In this paper, I estimate the extent of precautionary accumulation using data from a new survey: the US Health and Retirement Study, which samples older households. I account for many determinants of wealth, not only past economic circumstances and expectations about future resources, but also individual preferences, such as risk aversion and impatience. In addition and most importantly, I account for risk using subjective data on the probability of job loss in the future.  I find evidence in favor of precautionary saving. While the precautionary saving motive does not give rise to a lot of wealth, many households make provisions to insure against earnings risk. Thus, precautionary saving continues to affect accumulation even at late stages of the life cycle.},
	keywords = {Consumption and Savings, Expectations, Net Worth and Assets},
	url = {https://www.researchgate.net/publication/5091193_Precautionary_Saving_and_the_Accumulation_of_Wealth},
	author = {Annamaria Lusardi}
}
@article {6690,
	title = {Private Long-term Care Insurance and the Asset Protection Motive},
	journal = {The Gerontologist},
	volume = {40},
	year = {2000},
	pages = {596-604},
	publisher = {40},
	abstract = {This research examined the role of assets in the decision to purchase insurance for long-term care using survey data from the Asset and Health Dynamics Among the Oldest Old (AHEAD) study. Previous research suggests that assets matter, but the size and direction of the effect varies. An important issue regarding the role of assets has not been explored adequately--whether the effect of assets differs between less wealthy and very wealthy individuals. A methodology to control for this type of variation is employed in this analysis. Results suggest that increases in assets have the greatest influence on the probability that less wealthy individuals own long-term care insurance, and have a negligible impact on the wealthy. This has important implications for policies designed to increase long-term care insurance ownership.},
	keywords = {Demographics, End of life decisions, Healthcare, Medicare/Medicaid/Health Insurance, Methodology, Net Worth and Assets},
	doi = {10.1093/geront/40.5.596},
	author = {Jennifer M Mellor}
}
@article {6679,
	title = {The Production of Functionality by the Elderly: A Household Production Function Approach},
	journal = {Applied Economics},
	volume = {32},
	year = {2000},
	note = {ProCite field 3 : Cornell U},
	pages = {1269-80},
	publisher = {32},
	abstract = {This paper extends Becker{\textquoteright}s model of the household production function of human capital to the production of elderly functionality. In this model, elderly functionality is produced with the direct inputs of assistive devices, personal assistance, and nutritional intake.  Education, endowment variables (like genetic endowment and sex) and health conditions (like stroke) determine the production function environment. Data from the Survey of Asset and Health Dynamics Among the Oldest-Old (AHEAD) are used to estimate a production function of bathing functionality, using a two-stage estimation procedure. In the first stage, input demands for the endogenous functionality inputs are estimated, recognizing health heterogeneity. The results suggest that reverses in functionality caused by age and health conditions can be partially compensated for by the use of assistive devices (like grab bars and bathing equipment), secure nutritional intake, and moderate alcohol consumption. However, non-inputs like chronic health conditions, age, sex and genetic endowment exert a strong influence on the level of functionality.},
	keywords = {Consumption and Savings, Demographics, Health Conditions and Status, Net Worth and Assets},
	doi = {10.1080/000368400404425},
	author = {Kutty, Nandinee K.}
}
@inbook {5148,
	title = {Projected Retirement Wealth and Saving Adequacy in the Health and Retirement Study},
	booktitle = {Forecasting Retirement Needs and Retirement Wealth},
	year = {2000},
	note = {RDA 1996-002; Revision of NBER Working Paper No. 6240 ProCite field 8 : eds.},
	pages = {68-94},
	publisher = {Univ. of Pennsylvania Press},
	organization = {Univ. of Pennsylvania Press},
	chapter = {3},
	address = {Philadelphia},
	abstract = {In the future it is likely that retirees will have to take on more of the burden of ensuring their own well-being then is now the case.  This is because of the growing population over the age of 65 that is causing the social security surplus to wither away and the ongoing trend toward defined contribution retirement plans rather then defined benefit plans.  However, household savings rates have plunged over the last half-century and this causes one to wonder how people will maintain their current consumption levels when retired.  The authors use the first wave (1992) of the Health and Retirement Study in order to illustrate a life cycle model of savings.  These researchers also look at initial and projected wealth, savings needs, replacement rates, and income.  They find that the median current wealth of older households is  325,000, including retirement plans and assets, and they feel that at retirement the median wealth will be  380,000.  At the same time though the median older household will need a savings rate of 16  in order to maintain current consumption levels in retirement.},
	keywords = {Consumption and Savings, Net Worth and Assets},
	url = {https://pensionresearchcouncil.wharton.upenn.edu/publications/books/forecasting-retirement-needs-and-retirement-wealth/},
	author = {James Moore and Olivia S. Mitchell},
	editor = {Olivia S. Mitchell and Hammond, B. and Rappaport, A.}
}
@inbook {5128,
	title = {Prospects for Widow Poverty},
	booktitle = {Forecasting retirement needs and retirement wealth.},
	series = {Pension Research Council Publications.:},
	year = {2000},
	note = {ProCite field[8]: eds.},
	pages = {208 -34},
	publisher = {University of Pennsylvania Press},
	organization = {University of Pennsylvania Press},
	address = {Philadelphia},
	keywords = {Consumption and Savings, Methodology, Net Worth and Assets, Retirement Planning and Satisfaction},
	author = {David R Weir and Robert J. Willis},
	editor = {Olivia S. Mitchell and P. Brett Hammond and Anna M. Rappaport}
}
@inbook {5152,
	title = {Pension and Social Security Wealth in the Health and Retirement Study},
	booktitle = {Wealth, Work and Health: Innovations in Measurement in the Social Sciences},
	year = {1999},
	note = {RDA 1996-005; Revision of Pension Research Council Working Paper PRC WP 97-3 ProCite field 8 : eds.},
	pages = {150-208},
	publisher = {University of Michigan Press},
	organization = {University of Michigan Press},
	address = {Ann Arbor, MI},
	abstract = {This study attempts to understand the impact of pension and social security wealth on decisions made by people of retirement age.  Their in-depth analysis of the Health and Retirement Study gives many interesting findings.  Of those people participating in the Health and Retirement Study, more then half of the wealth is in the form of social security, pensions, and health insurance.  Various topics are explored in this paper.},
	keywords = {Net Worth and Assets, Pensions, Social Security},
	author = {Alan L Gustman and Olivia S. Mitchell and Andrew A. Samwick and Thomas L. Steinmeier},
	editor = {James P Smith and Robert J. Willis}
}
@article {6643,
	title = {Pension Type and Retirement Wealth},
	journal = {Industrial Relations},
	volume = {38},
	year = {1999},
	pages = {1-10},
	publisher = {38},
	abstract = {Throughout the 1980s and 1990s there has been a gradual shift from defined-benefit pensions, where an individual obtains a specified amount of retirement income, to defined-contribution pensions, where only the annual contribution by the employer is specified.  In this article the author hypothesizes that defined-contribution plans have a greater probability than defined-benefit plans of leaving a retired person with inadequate expected retirement income.  Wave 1 (1992) of the Health and Retirement Study is used for the data that is input into the author s retirement wealth equation where retirement wealth is positive and a function of job tenure, age, sex, race, investment portfolio, and whether or not the individual was born in the U.S.  The analysis gives some support for defined-benefit pensions being more affective, however this is true only for those still working.  At the same time, so long as there is a cautious mix of stocks and bonds, the data clearly indicates that defined-contribution plans are beneficial to retired individuals.  Also recognized by this study is that those people with the highest educations collect the most retirement benefits, keeping earnings constant.},
	keywords = {Net Worth and Assets, Pensions, Retirement Planning and Satisfaction},
	author = {Blank, Emily C.}
}
@inbook {5158,
	title = {Pensions and the Distribution of Wealth},
	booktitle = {Frontiers in the Economics of Aging},
	year = {1998},
	note = {ProCite field 6 : In ProCite field 8 : ed.},
	publisher = {University of Chicago Press},
	organization = {University of Chicago Press},
	address = {Chicago, IL},
	keywords = {Net Worth and Assets},
	author = {Kathleen McGarry and Davenport, Andrew},
	editor = {David A Wise}
}
@article {5332,
	title = {Pension and Social Security Wealth in the Health and Retirement Study},
	year = {1997},
	note = {ProCite field 8 : Dartmouth College and NBER},
	institution = {National Bureau of Economic Research},
	abstract = {Together, pensions, social security and health insurance account for half of the wealth held by all households in the Health and Retirement Study (HRS), for 60 percent of total wealth of HRS households who are in the 45th to 55th wealth percentiles, and even for 48 percent of wealth for those in the 90th to 95th wealth percentiles. The HRS surveys households aged 51 to 61 in 1992, and obtains pension plan descriptions from respondents{\textquoteright} employers. Pension accrual profiles, income and wealth distributions by type, wealth-income ratios and accrued wealth by pension status are also explored.},
	keywords = {Consumption and Savings, Income, Medicare/Medicaid/Health Insurance, Methodology, Net Worth and Assets, Pensions, Retirement Planning and Satisfaction, Social Security},
	doi = {10.3386/w5912},
	url = {https://www.nber.org/papers/w5912},
	author = {Alan L Gustman and Olivia S. Mitchell and Andrew A. Samwick and Thomas L. Steinmeier}
}
@article {5334,
	title = {Projected Retirement Wealth and Savings Adequacy in the Health and Retirement Study},
	year = {1997},
	note = {RDA ProCite field 8 : Wharton School; Wharton School and NBER},
	institution = {National Bureau of Economic Research},
	abstract = {Low saving rates raise questions about Americans{\textquoteright} ability to maintain consumption levels in old age. Using the Health and Retirement Study, this paper explores asset holdings among a nationally representative sample of people on the verge of retirement. The authors assess how much more people would need to save in order to preserve consumption levels after retirement. They find that the median older household has current wealth of approximately  325,000 including pensions, social security, housing, and other financial wealth, an amount projected to grow to about  380,000 by retirement at age 62. Nevertheless, their model suggests that this median household will still need to save 16  of annual earnings to preserve pre-retirement consumption. For retirement at age 65, assets are expected to be  420,000 and required additional saving totals 7  of earnings per year. These summary statistics conceal extraordinary heterogeneity in both assets and saving needs in the older population.},
	keywords = {Consumption and Savings, Health Conditions and Status, Net Worth and Assets, Pensions, Retirement Planning and Satisfaction, Social Security},
	doi = {10.3386/w6240},
	url = {https://www.nber.org/papers/w6240},
	author = {James Moore and Olivia S. Mitchell}
}
@article {6598,
	title = {Protecting Persons With Severe Cognitive and Mental Disorders: An Analysis of Public Conservatorship in Los Angeles County, California},
	journal = {Aging and Mental Health},
	volume = {Vol. 1},
	year = {1997},
	pages = {87-97},
	publisher = {Vol. 1},
	abstract = {This article begins to identify the factors that place older adults at risk for conservatorship. Comaprisons are drawn between the characteristics of adult public conservatees in the civil commitment and Probate programs in Los Angeles, between young and old conservatees, and then between old conservatees and adults nationwide who are part of the AHEAD sample. Findings show obvious differences between the two types of conservatees. Individuals in the Probate program have the characteristics of young conservatees while adults in the civil commitment program have the characteristics of older conservatees and have less available family memebers, implying social isolation as a risk factor for older adults for public conservatorship.  Compared to older adults nationwide, older public conservatees (70 and older) are much older, more likely to suffer from dementia, to be physically impaired, and are far less affluent.  This comparison suggests that older adults in public conservatorship in Los Angeles appear to reflect the correct target population for such a service, socially isolated and highly impaired adults.},
	keywords = {Health Conditions and Status, Net Worth and Assets, Public Policy},
	doi = {https://doi.org/10.1080/13607869757425},
	author = {Sandra L Reynolds and Kathleen H. Wilber}
}
