Debt and financial vulnerability on the verge of retirement

We analyze older individuals’ debt and financial vulnerability using data from the Health and Retirement Study (HRS) and the National Financial Capability Study (NFCS). Specifically, in the HRS we examine three different
We analyze older individuals’ debt and financial vulnerability using data from the Health and Retirement Study (HRS) and the National Financial Capability Study (NFCS). Specifically, in the HRS we examine three different cohorts (individuals age 56–61) in 1992, 2004, and 2010 to evaluate cross-cohort changes in debt over time. We also use two waves of the NFCS (2012 and 2015) to gain additional insights into debt management and older individuals’ capacity to shield themselves against shocks. We show that recent cohorts have taken on more debt and face more financial insecurity, mostly due to having purchased more expensive homes with smaller down payments.
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Metadaten
Author:Annamaria Lusardi, Olivia S. Mitchell, Noemi Oggero
URN:urn:nbn:de:hebis:30:3-438608
URL:https://ssrn.com/abstract=3038788
Parent Title (English):Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 574
Series (Serial Number):CFS working paper series (574)
Publisher:Center for Financial Studies
Place of publication:Frankfurt, M.
Document Type:Working Paper
Language:English
Year of Completion:2017
Year of first Publication:2017
Publishing Institution:Universitätsbibliothek Johann Christian Senckenberg
Release Date:2017/10/17
Issue:September 11, 2017
Pagenumber:46
Note:
© Lusardi, Mitchell, Oggero
HeBIS PPN:419159444
Institutes:Wirtschaftswissenschaften
Center for Financial Studies (CFS)
Dewey Decimal Classification:330 Wirtschaft
Sammlungen:Universitätspublikationen
Licence (German):License Logo Veröffentlichungsvertrag für Publikationen

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