Resource title

Baby boomer retirement security: the roles of planning, financial literacy, and Housing wealth

Resource image

image for OpenScout resource :: Baby boomer retirement security: the roles of planning, financial literacy, and Housing wealth

Resource description

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.

Resource author

Annamaria Lusardi, Olivia S. Mitchell

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/25486

Resource license

Adapt according to the presented license agreement and reference the original author.