TY - RPRT T1 - Change in Household Spending After Retirement: Results from a Longitudinal Sample Y1 - 2015 A1 - Sudipto Banerjee KW - Consumption and Savings KW - Income KW - Net Worth and Assets KW - Retirement Planning and Satisfaction AB - This paper shows how household spending changed in the immediate years following retirement by analyzing the spending patterns of a fixed group of households up to six years after their retirement. Two sources of data are used for this study. First is the Health and Retirement Study (HRS), which is a study of a nationally representative sample of U.S. households with individuals over age 50. The other source of data is the Consumption and Activities Mail Survey (CAMS), which was started in 2001 as a supplement to the HRS. The data show that household spending dropped at the beginning of retirement. In the first two years of retirement, median household spending dropped by 5.5 percent from preretirement spending levels, and by 12.5 percent by the third or fourth year of retirement. But the spending reduction slowed down after the fourth year. Although average spending in retirement fell, a large percentage of households experienced higher spending following retirement. In the first two years of retirement, 45.9 percent of households spent more than what they had spent just before retirement. This declined to 33.4 percent by the sixth year of retirement. Households that spent more in the first two years of retirement were not exclusively high-income households; rather they were distributed similarly across income levels. In the first two years of retirement, 2 in 5 households (39.3 percent) spent less than 80 percent of their preretirement spending. By the sixth year of retirement, a majority (53.1 percent) of households did so. In the first two years of retirement, 28.0 percent of households spent more than 120 percent of their preretirement spending. By the sixth year of retirement, 23.4 percent of households still did so. A very small percentage of the household budget was spent on durable goods. The median household (half above and half below) spent nothing on durables in retirement. Transportation spending showed the highest drop in the first two years of retirement. Median spending on transportation went down by 25.1 percent in the first two years of retirement, although the reduction in subsequent years was small. The median household had a mortgage payment before retirement but none after retirement. PB - Washington, DC, Employee Benefit Research Institute U4 - Consumption/Household spending/Household spending/Income/Retirement ER - TY - JOUR T1 - Cognitive Ability and the Stock Reallocations of Retirees during the Great Recession JF - Journal of Consumer Affairs Y1 - 2015 A1 - Chris Browning A1 - Michael S. Finke KW - Health Conditions and Status KW - Net Worth and Assets KW - Public Policy KW - Retirement Planning and Satisfaction AB - Retirees are increasingly responsible for managing their retirement savings. The ability to manage these assets efficiently can have an important impact on retirement well-being. Lower levels of cognitive ability in old age can reduce an investor's ability to control emotional responses to a loss. Greater sensitivity to loss may increase preferences for safety following a market decline, resulting in allocations away from stocks that are associated with long-term underperformance. We investigate whether cognitive ability is related to stock reallocations among retirees during the Great Recession. Using the Health and Retirement Study, we find that cognitive ability is negatively related to allocations away from stock. Compared to those with the lowest levels of cognitive ability, respondents with higher cognitive ability are 40 less likely to reduce their stock allocation by 50 or more. These results suggest that the quality of investment decisions in old age may be compromised by cognitive decline. PB - 49 VL - 49 IS - 2 N1 - Times Cited: 0 0 U4 - retirement savings/assets/health shocks/cognitive ability/stock reallocations/Great Recession/Cognitive decline ER - TY - JOUR T1 - Can the government incentivize the purchase of private long-term care insurance? Evidence from the Partnership for Long-Term Care JF - Applied Economics Letters Y1 - 2014 A1 - Nadia Greenhalgh-Stanley KW - Medicare/Medicaid/Health Insurance KW - Net Worth and Assets KW - Risk Taking AB - Using data from the Health and Retirement Study, I show that state adoption of Partnerships for Long-Term Care incentivized the purchase of private long-term care insurance, particularly for households displaying the greatest risk aversion and long-term financial planning horizons. PB - 21 VL - 21 IS - 8 N1 - Times Cited: 0 U4 - Partnership for Long-Term Care/long-term care insurance/risk aversion/financial planning horizon ER - TY - JOUR T1 - Characterizing the Genetic Influences on Risk Aversion JF - Biodemography and Social Biology Y1 - 2014 A1 - Harrati, Amal KW - Genetics KW - Net Worth and Assets KW - Retirement Planning and Satisfaction KW - Risk Taking AB - Risk aversion has long been cited as an important factor in retirement decisions, investment behavior, and health. Some of the heterogeneity in individual risk tolerance is well understood, reflecting age gradients, wealth gradients, and similar effects, but much remains unexplained. This study explores genetic contributions to heterogeneity in risk aversion among older Americans. Using over 2 million genetic markers per individual from the U.S. Health and Retirement Study, I report results from a genome-wide association study (GWAS) on risk preferences using a sample of 10,455 adults. None of the single-nucleotide polymorphisms (SNPs) are found to be statistically significant determinants of risk preferences at levels stricter than 5 x 10(-8). These results suggest that risk aversion is a complex trait that is highly polygenic. The analysis leads to upper bounds on the number of genetic effects that could exceed certain thresholds of significance and still remain undetected at the current sample size. The findings suggest that the known heritability in risk aversion is likely to be driven by large numbers of genetic variants, each with a small effect size. PB - 60 VL - 60 IS - 2 N1 - Times Cited: 0 SI 0 U4 - risk Aversion/retirement planning/investments/risk tolerance/genetics/genetics/Heritability ER - TY - RPRT T1 - Childhood Experience of Father's Job Loss and Stock Market Participation Y1 - 2014 A1 - Lehtoranta, Antti KW - Employment and Labor Force KW - Health Conditions and Status KW - Net Worth and Assets AB - Using data from the Panel Study of Income Dynamics (PSID), I document that childhood experience of father's job loss decreases the propensity to own stocks as an adult. If this experience takes place at the age of 5 10 years, the probability of owning stocks decreases by 2.9 percentage points in a sample with mean stock market participation rate of 17 . This finding is robust to alternative definitions of age ranges and controlling for random unobserved effects. I also find an effect of similar magnitude in the Health and Retirement Study (HRS) data. PB - Helsinki, Bank of Finland U4 - stock market participation/personal experience/job loss ER - TY - RPRT T1 - The Changing Causes and Consequences of Not Working Before Age 62 Y1 - 2012 A1 - Barbara A Butrica A1 - Nadia S. Karamcheva KW - Consumption and Savings KW - Disabilities KW - Employment and Labor Force KW - Net Worth and Assets KW - Public Policy KW - Social Security AB - This study uses the Health and Retirement Study to deepen our understanding of nonworking adults ages 51 to 61 and how they support themselves before qualifying for Social Security benefits. The results show that nonworking adults ages 51 to 61 are a heterogeneous group. A large share is poor, with low incomes and limited wealth. But a sizeable share has low incomes and abundant wealth. These individuals are income poor but asset rich. More than for singles, this phenomenon characterizes nonworking married adults. In general, we find that nonworking married adults are significantly better off than their unmarried counterparts. Many nonworking married adults have working spouses. On average, married adults without earnings have twice the per person income and more than ten times the per person assets of single adults without earnings. Additionally, married adults without earnings are 20-30 percentage points less likely to be poor than single adults without earnings. It is important for policymakers to understand who stops working early and how they support themselves. Nonworkers may be more likely to apply and qualify for Social Security disability and SSI benefits. Also, more than any other group, nonworkers will be adversely impacted by any increases to the early entitlement age. Finally, nonworkers are especially vulnerable in retirement because they are likely to have lower savings, Social Security benefits, and pensions than workers. JF - Urban Institute Discussion Paper PB - The Urban Institute CY - Washington, D.C. UR - https://www.urban.org/sites/default/files/publication/23531/412801-The-Changing-Causes-and-Consequences-of-Not-Working-before-Age-.PDF U4 - Social Security/Public Policy/DISABILITY/DISABILITY/Asset accumulation/Saving/labor Force Participation ER - TY - JOUR T1 - Cross-national insights into the relationship between wealth and wellbeing: a comparison between Australia, the United States of America and South Korea JF - Ageing and Society Y1 - 2012 A1 - Kim, Sarang A1 - K. A. Sargent-Cox A1 - D. J. French A1 - Kendig, H. A1 - Kaarin J. Anstey KW - Demographics KW - Health Conditions and Status KW - Healthcare KW - KLoSA KW - Methodology KW - Net Worth and Assets AB - 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 PB - 32 VL - 32 UR - http://proquest.umi.com.proxy.lib.umich.edu/pqdweb?did=2529607071andFmt=7andclientId=17822andRQT=309andVName=PQD IS - 1 U4 - Wealth/Comparative analysis/Quality of life/Older people/Gerontology ER - TY - RPRT T1 - Cognitive Aging and Human Capital Y1 - 2011 A1 - John J McArdle A1 - Robert J. Willis KW - Health Conditions and Status KW - Net Worth and Assets PB - University of Michigan U4 - human Capital/Cognitive ability/Aging ER - TY - RPRT T1 - Cross-Wave Prospective Social Security Wealth Measures of Pre-Retirees, Public Release: Data Description and Usage Y1 - 2009 A1 - Kandice Kapinos A1 - Charles Brown A1 - Michael A. Nolte A1 - Helena Stolyarova A1 - David R Weir KW - Net Worth and Assets KW - Social Security AB - The Prospective Social Security Wealth Measures of Pre-Retirees data set consists of respondent-level, cross-sectional files constructed from the employment sections of the HRS 1992 (wave 1), HRS 1998 (wave 4), HRS 2004 (wave 7) and the restricted SSA summary and detailed earnings and benefits files. In this public use file, we calculate wealth only for individuals who have not yet retired (as evidenced by claiming SS benefits) (see Section III.C). Each individual is uniquely identified by the concatenation of the household ID and the person number, HHID and PN. We organize the data to match the organization of the RAND HRS data files. PB - Institute for Social Research, University of Michigan CY - Ann Arbor, Michigan U4 - social Security/wealth ER - TY - JOUR T1 - Complementarity and the Measurement of Individual Risk Tradeoffs: Accounting for Quantity and Quality of Life Effects JF - Environmental and Resource Economics Y1 - 2008 A1 - Mary F. Evans A1 - V. Kerry Smith KW - Employment and Labor Force KW - Net Worth and Assets AB - This paper considers the factors responsible for differences with age in estimates of the wage compensation an individual requires to accept increased occupational fatality risk. We derive a relationship between the value of a statistical life (VSL) and the degree of complementarity between consumption and labor supplied when health status serves as a potential source of variation in this relationship. Our empirical analysis finds that variations in an individual s health status or quality of life and anticipated longevity threats lead to significant differences in the estimated wage/risk tradeoffs. We describe how extensions to the specification of hedonic wage models, including measures for quality of life and anticipated longevity threats, help to explain the diversity in past studies examining how the estimated wage risk tradeoff changes with age. PB - 41 VL - 41 UR - http://dx.doi.org/10.1007/s10640-008-9197-9 IS - 3 U4 - Business and Economics/Wages ER - TY - JOUR T1 - Credit Constraints and Human Capital Investment in College Education JF - Journal of Family and Economic Issues Y1 - 2008 A1 - Cao, Honggao KW - Demographics KW - Income KW - Net Worth and Assets AB - Using data from the Health and Retirement Study 2001 Human Capital Investment Survey, this article examines the impact of credit market constraints on investment in college education. The effect of family income on college attendance may not be as big as perceived in some previous studies. The interest rates faced by children from middle families are the lowest in the credit market. The research suggests that various government programs aiming to help children from poor families may be effective, but only at the extensive margin--by improving their access to college education. For those who get into college, underinvestment by students from poor families remains a significant problem. PB - 29 VL - 29 IS - 1 U4 - Education/Income Inequality/Human Capital ER - TY - RPRT T1 - Children and Household Wealth Y1 - 2007 A1 - John Karl Scholz A1 - Ananth Seshadri KW - Adult children KW - Net Worth and Assets AB - This paper examines the effects of children on consumption and wealth. To anchor intuition, we develop implications using a simple permanent income model with no uncertainty and complete markets. But this framework does not come close to matching the distribution of existing wealth. We therefore examine the effects of children using a rich, augmented life-cycle model, and using a life-cycle model with endogenous fertility. We find that children have a large effect on household s net worth and consequently are an important factor in understanding the wealth distribution. The effects of children are much larger than the effects of asset tests associated with cash and near-cash transfers, given earnings realizations and the social security system experienced by households in the original HRS cohort. We also show that fertility and credit constraints interact in ways that significantly affect wealth accumulation. JF - Michigan Retirement Research Center Research Paper PB - Michigan Retirement Research Center, University of Michigan CY - Ann Arbor, MI U4 - CHILDREN/Households/Wealth Accumulation ER - TY - CHAP T1 - Cohort Differences in Retirement Expectations and Realizations T2 - Redefining Retirement: How Will Boomers Fare? Y1 - 2007 A1 - Nicole Maestas KW - Expectations KW - Net Worth and Assets KW - Other AB - This chapter compares retirement expectations, retirement patterns, and expectations of future work across different cohorts of the Health and Retirement Study, including the new cohort of Baby Boomers currently in their late 50’s. We find that the Boomers are more strongly attached to the labor force as they enter their retirement years than were earlier cohorts at the same age. Compared to the preceding birth cohort, they expect to retire nearly one year later, they are 14 percent more likely to expect to be working full-time at age 65, and they are 21 percent more likely to expect to work in the future if they are not currently working. We find that these differences are not entirely explained by cohort differences in socioeconomic status, pension incentives, demographics, or health. We conclude that the Baby Boomers may have stronger preferences for work than previous cohorts. JF - Redefining Retirement: How Will Boomers Fare? PB - Oxford University Press CY - New York, NY UR - https://repository.upenn.edu/cgi/viewcontent.cgi?article=1362&context=prc_papers N1 - ProCite field 6 : In ProCite field 8 : eds U4 - Retirement Expectations/Retirement Wealth/COHORT JO - Cohort Differences in Retirement Expectations and Realizations ER - TY - RPRT T1 - Changes in Wealth for Americans Reaching or Just Past Normal Retirement Age Y1 - 2005 A1 - Copeland, Craig KW - Net Worth and Assets KW - Retirement Planning and Satisfaction AB - This Issue Brief provides a first step in determining how retirees now starting to retire those first to be affected by the shift to lump-sum payments and 401(k) asset accumulation.are managing their wealth. Americans born from 1931 1941 are the focus of this study, since these Americans ranged in age from 51 61 in 1992 (at the beginning of the study period) and had reached age 61 71 by 2002 (the end of the study period). These Americans have been affected by fundamental changes in the employment-based retirement plan market, as fewer people are covered by defined benefit pension plans and more people are covered by defined contribution plans, principally the 401(k) plan. This shift has led to tremendous growth in IRA assets, as workers used these tax-favored savings vehicles to roll over their defined contribution and/or defined benefit assets upon job change or retirement. PB - Employee Benefit Research Institute, EBRI Issue Brief No. 277 UR - http://www.ebri.org/ibs/ U4 - Retirement Wealth/Retirement Policies ER - TY - JOUR T1 - Cash Balance Plans and the Distribution of Pension Wealth JF - Industrial Relations Y1 - 2003 A1 - Richard W. Johnson A1 - Cori E. Uccello KW - Net Worth and Assets KW - Pensions AB - Recent pension plan coversions 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 coverred Americans aged 51 to 61. The simulations indicate that replacing DB plans with cash balance plans would redistribute pension wealth from those with long-term jobs to those with multiple short-term jobs and from those with substantial pension benefits to those with more limited benefits. Perhaps unexpectedly, women ad midlife in 1992 with DB coverage would lose wealth in cash balanace plans, but future cohorts of women are likely to fare better. PB - 42 VL - 42 IS - 4 N1 - RDA 1998-006 U4 - Pension Plans/Retirement Wealth ER - TY - RPRT T1 - Children and Retirement Wealth Y1 - 2002 A1 - Khitatrakun, Surachai KW - Adult children KW - Net Worth and Assets PB - University of Wisconsin-Madison, Economics Department U4 - Wealth Accumulation/Children ER - TY - RPRT T1 - Choice and Other Determinants of Employee Contributions to Defined Contribution Plans Y1 - 2002 A1 - Papke, Leslie E. KW - Net Worth and Assets KW - Pensions PB - Center for Retirement Research at Boston College UR - http://www.bc.edu/centers/crr/papers/Fourth/cp_02_13_papke2.pdf N1 - U.S. Social Security Administration (SSA) to the Center for Retirement Research at Boston College U4 - defined contribution pension plans/plan characteristics/asset choice ER - TY - RPRT T1 - Crediting Care? Gender, Race, Class and Social Security Reform Y1 - 2002 A1 - Herd, Pamela KW - Demographics KW - Methodology KW - Net Worth and Assets PB - Syracuse University N1 - RDA 2002-007 U4 - Social Security Research/Gender/Economic Status ER - TY - THES T1 - Capital and Health Status in Near-old Adults Y1 - 2001 A1 - Frytak, Jennifer R. KW - Health Conditions and Status KW - Healthcare KW - Net Worth and Assets AB - Background. The existence of socioeconomic status (SES) differentials in health status has been widely recognized in the literature; the differentials appear to be widest in near-old adults (ages 55-64). Different disciplines have proposed a variety of explanatory mechanisms thought to account for the relationship between SES and health. However, no consensus has been reached in the literature regarding the best explanation for SES differentials in health. Objective. This study investigates how different types of financial, human, and social resources-defined hereafter as capital are associated with producing health in low versus high SES groups. Data source. Wave 1 (1992) and Wave 2 (1994) of the Health and Retirement Study. Study design. This research attempts to combine economic and sociological perspectives into a capital-based approach to exploring SES differentials in health. Measures of financial, human, and social capital were developed. The sample was divided into high and low SES groups. Latent variable structural equation modeling was used to examine the relative effects of the different types of capital on health for each SES group. The differences in the SES subgroup capital coefficients were compared across the subgroups. Results. Capital was found to work differently in the different SES groups. Financial capital generally had a greater direct protective effect on health in the low versus high SES group. Social capital had a greater direct protective effect on self-rated health in the high versus the low SES group; all social capital effects on health were indirect for the low SES group. The effects of human capital were mixed. Human capital generally had the largest protective effects on health within both groups. Conclusions. We found support for the contention that a differential distribution of social, personal, and economic resources within the social structure are fundamental causes of differentials in population health for near-old adults. If social stratification is not considered explicitly in health policy, a general improvement in population health may be achieved but not a lessening of the SES differentials in health. PB - University of Minnesota U4 - Health Status JO - Capital and Health Status in Near-old Adults ER - TY - CHAP T1 - Choice, Chance, and Wealth Dispersion at Retirement T2 - Aging Issues in the United States and Japan Y1 - 2001 A1 - Steven F Venti A1 - David A Wise ED - Seiritsu Ogura ED - Toshiaki Tachibanaki ED - David A Wise KW - Net Worth and Assets KW - Retirement Planning and Satisfaction JF - Aging Issues in the United States and Japan PB - University of Chicago Press CY - Chicago N1 - RDA 1999-002 ProCite field 8 : eds. U4 - Retirement Planning/Retirement Behavior/Wealth ER - TY - RPRT T1 - Cognition and Wealth: The Importance of Probabilistic Thinking Y1 - 2001 A1 - Lee A. Lillard A1 - Robert J. Willis KW - Health Conditions and Status KW - Net Worth and Assets AB - Proposed reforms of Social Security that expand household choice and private sector trends away from defined benefit pension plans toward defined contribution plans offer new financial planning options. Although these options have many potential benefits for households, critics argue that many people will fail to make choices that exploit them, and, consequently, that expanded choice will increase the risks of poverty for some populations. Subjective probabilities are key in models of optimal financial planning, yet little is known about the capacity of individuals to use probabalistic thinking in this area. In the research reported here, we used a battery of subjective probability questions administered to more than 20,000 people in the Health and Retirement Study to investigate how probabalistic thinking affects portfolio choices and net worth. Our objectives are to develop a measure of competence in probabilistic thinking and to link this measure to risk aversion and financial outcomes. PB - Michigan Retirement Research Center at the University of Michigan CY - Ann Arbor, MI UR - https://www.ssc.wisc.edu/~jkennan/teaching/Lillard-Willis_RAND1.pdf U4 - Cognition/Wealth ER - TY - BOOK T1 - The Case for Marriage: Why Married People are Happier, Healthier, and Better Off Financially Y1 - 2000 A1 - Linda J. Waite A1 - Gallagher, Maggie KW - Adult children KW - Health Conditions and Status KW - Net Worth and Assets AB - The Case for Marriage is a critically important intervention in the national debate about the future of family. Based on the authoritative research of family sociologist Linda J. Waite, journalist Maggie Gallagher, and a number of other scholars, this book’s findings dramatically contradict the anti-marriage myths that have become the common sense of most Americans. Today a broad consensus holds that marriage is a bad deal for women, that divorce is better for children when parents are unhappy, and that marriage is essentially a private choice, not a public institution. Waite and Gallagher flatly contradict these assumptions, arguing instead that by a broad range of indices, marriage is actually better for you than being single or divorced– physically, materially, and spiritually. They contend that married people live longer, have better health, earn more money, accumulate more wealth, feel more fulfillment in their lives, enjoy more satisfying sexual relationships, and have happier and more successful children than those who remain single, cohabit, or get divorced. PB - Doubleday CY - New York U4 - Marriage/Health Status/Economic Status ER - TY - JOUR T1 - Characteristics of Individuals with Integrated Pensions JF - Social Security Bulletin Y1 - 1999 A1 - Bender, Keith A. KW - Demographics KW - Employment and Labor Force KW - Methodology KW - Net Worth and Assets AB - This paper examines the characteristics of individuals covered under integrated pension plans by comparing them with people covered by non-integrated plans and those with no pesion coverage. Females, whites, non-union members, and those workers with less than a postgraduate education are more likely to be covered under integrated pensions. Higher earnings or having a defined benefit pension plan are also strong predictors for having an integrated pension plan. When region and industry type are considered, reults show that workers in the Pacific region and in manufacturing are more likely to be covered by integrated pensions. PB - 62 VL - 62 UR - https://pdfs.semanticscholar.org/8cdc/a5b6f433be1f56d0135a707c6fd4f5035420.pdf IS - 3 U4 - Labor/Economic Status/Basic Demographics/Pension Provider Survey ER - TY - JOUR T1 - Consumer Preferences for Health Care Reform Options JF - Journal of Consumer Affairs Y1 - 1999 A1 - Gong-Soog Hong A1 - Shelley I. White-Means KW - Consumption and Savings KW - Health Conditions and Status KW - Healthcare KW - Net Worth and Assets KW - Public Policy AB - This study uses the 1992 Health and Retirement Study to examine consumer preferences for four health care reform options: tax-financed national health insurance, personally subsidized Medicare extensions, publicly subsidized nursing home insurance, and tax credits for health insurance purchases. Males, non-Caucasians, the self-employed, those in excellent health, and those who reside in the Northeast favor national health insurance, while those with high levels of liquid and non-liquid assets tend to disfavor it. Males and those with higher expectations of living in nursing homes tend to favor personally subsidized Medicare extensions to cover nursing homes and home health care. Those with higher expectations of living in nursing homes also favor publicly subsidized nursing home insurance. Relatively little support for subsidized nursing home insurance is found among males and those with high levels of liquid and non-liquid assets. The self-employed tend to support tax credits for health insurance premiums. PB - 33 VL - 33 UR - https://www.jstor.org/stable/23859957?seq=1#page_scan_tab_contents IS - 2 N1 - ProCite field 3 : Purdue U; U Memphis U4 - Health Policy/Nursing Homes/Tax Policy/Health Production--Nutrition, Mortality, Morbidity, Disability, and Economic Behavior/Consumer Economics: Empirical Analysis/Consumer Economics: Empirical Analysis/Net Worth ER - TY - JOUR T1 - Can Americans Afford to Retire? New Evidence on Retirement Saving Adequacy JF - Journal of Risk and Insurance Y1 - 1998 A1 - Olivia S. Mitchell A1 - James Moore KW - Net Worth and Assets KW - Retirement Planning and Satisfaction AB - This paper looks at the recent research regarding retirement wealth accumulation and decumulation and assesses whether Americans are doing a reasonable job of preparing for retirement, and spending down while in the retirement phase. PB - 65 VL - 65 UR - https://www-jstor-org.proxy.lib.umich.edu/stable/253656?Search=yes&resultItemClick=true&searchText=Can&searchText=Americans&searchText=Afford&searchText=to&searchText=Retire&searchText=New&searchText=Evidence&searchText=on&searchText=Retirement&searchText IS - 3 N1 - RDA 1996-002; HRS 1992 U4 - Economic Status--wealth/Retirement Wealth/Retirement Planning ER - TY - JOUR T1 - The Cause of Wealth Dispersion at Retirement: Choice or Chance? JF - American Economic Review Y1 - 1998 A1 - Steven F Venti A1 - David A Wise KW - Income KW - Net Worth and Assets KW - Retirement Planning and Satisfaction PB - 88 VL - 88 UR - https://www.jstor.org/stable/116916?seq=1 IS - 2 N1 - RDA 1999-002 ProCite field 3 : Dartmouth College; NBER U4 - Personal Income and Wealth Distribution/Retirement/Retirement Policies/Retirement/Wealth ER - TY - JOUR T1 - Comparison of Health Outcomes Among Older Construction and Blue-Collar Employees in the United States JF - American Journal of Industrial Medicine Y1 - 1998 A1 - Petersen, Jeffrey S. A1 - Zwerling, Craig KW - Employment and Labor Force KW - Health Conditions and Status KW - Net Worth and Assets AB - This article examines health outcomes of older male construction workers (age 51-61), as compared with older male blue-collar workers of the same age range. Results show that older construction workers are significantly more susceptible to musculoskeletal problems, emotional disorders, and chronic lung disease (CLD). This high rate of CLD, non-smoking construction workers are three times more likely to have CLD than are non-smoking blue-collar workers, is most likely due to on-the-job dust exposure. These findings suggest the need for further research on these topics and on possible solutions to these problems. PB - Vol. 34 VL - Vol. 34 IS - 3 U4 - Health Status/Labor/Economic Status/Job Characteristics ER - TY - RPRT T1 - The Changing Economic Circumstances of the Elderly: Income, Wealth and Social Security Y1 - 1997 A1 - James P Smith KW - Health Conditions and Status KW - Income KW - Net Worth and Assets KW - Social Security AB - This Policy Brief looks at how the economic status of the elderly is changing and discusses their prospects for the future. While the economic status of the elderly has dramatically improved over the decades and there is evidence of modest wealth holdings by the typical older household, there still exists the reality of economic disparities. Many older Americans remain economically vulnerable and there are large inequalities in wealth. Wide disparities exist across racial and ethnic groups and across age groups, with the oldest households always faring worst, largely due to deaths of spouses. Evidence suggests that while income explains a significant part of the existing wealth disparities, it is not the sole factor. The other contributing factors are the significantly lower savings rates for low- and middle-income households, socioeconomic status and health, bequests motives, and Social Security. The brief ends with a discussion about the power of Social Security as a highly successful redistributive system and the reasons behind its need for reform. PB - Syracuse University UR - https://ideas.repec.org/p/max/cprpbr/008.html U4 - Economic Status/Wealth/Retirement Incomes/Income Inequality/Social Security/Health Status ER -