Do Newly Retired Workers in the United States Have Sufficient Resources to Maintain Well-Being?
A current policy issue is the extent to which savings are sufficient to sustain economic well-being in retirement. We compare annualized wealth at retirement to three preretirement consumption estimates. About one-half of new retirees have insufficient resources to enable the full maintenance of est...
| Published in: | Economic Inquiry Vol. 44; no. 2; pp. 249 - 265 |
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| Main Authors: | , , |
| Format: | Article |
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Wiley-Blackwell
April 2006
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=510556537&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 510556537 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: N pubinfo: dt: April 2006 vid: 44 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 510556537 10.1093/ei/cbj023 ppf: 249 ppct: 16 formats: fmt: – @attributes: type: T – @attributes: type: P size: 1.4MB tig: atl: Do Newly Retired Workers in the United States Have Sufficient Resources to Maintain Well-Being? aug: au: Haveman, Robert Holden, Karen Wolfe, Barbara su: Retirement & economics Consumption (Economics) United States sug: subj: United States Retirement & economics Consumption (Economics) ab: A current policy issue is the extent to which savings are sufficient to sustain economic well-being in retirement. We compare annualized wealth at retirement to three preretirement consumption estimates. About one-half of new retirees have insufficient resources to enable the full maintenance of estimated preretirement consumption in retirement, and about 40% fail to meet the “0.7 of earnings” standard that is used in many studies. Using standards reflecting social (poverty) norms we find a less serious problem. About 5% (25%) of new retirees have insufficient resources to enable an above-poverty (near-poverty) level of living during retirement. (JEL J14, J26) Reprinted by permission of the publisher. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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