Baby Boomer retirement security : the roles of planning, financial literacy and housing wealth

We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and individuals in the same age group in 1992. Levels and patterns of total net worth have changed relativ
We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and individuals in the same age group in 1992. Levels and patterns of total net worth have changed relatively little over time, though Boomers rely more on housing equity than their predecessors. Most important, planners in both cohorts arrive close to retirement with much higher wealth levels and display higher financial literacy than non-planners. Instrumental variables estimates show that planning behavior can explain the differences in savings and why some people arrive close to retirement with very little or no wealth. Klassifizierung: D91, E21
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Metadaten
Author:Annamaria Lusardi, Olivia S. Mitchell
URN:urn:nbn:de:hebis:30-33268
Series (Serial Number):CFS working paper series (2006, 20)
Document Type:Working Paper
Language:English
Date of Publication (online):2006/11/18
Year of first Publication:2006
Publishing Institution:Univ.-Bibliothek Frankfurt am Main
Release Date:2006/11/18
Tag:Cohorts; Housing Wealth ; Lack of Planning ; Literacy ; Wealth Holdings
Source:CFS working paper ; 2006, 20
HeBIS PPN:190329785
Institutes:Center for Financial Studies (CFS)
Dewey Decimal Classification:330 Wirtschaft
Sammlungen:Universitätspublikationen
Licence (German):License Logo Veröffentlichungsvertrag für Publikationen

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