@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.}
}
