It is well-known that individuals born in different periods of time (cohorts)exhibit different wealth accumulation … accumulate wealth. The first one represents productivitydifferences across cohorts: the aggregate level of GNP per capita when … wealth holdings of different cohorts. In comparison with the cohorts that lived without SocialSecurity for a portion of their …

year. At the upper end of the wealth distribution, however, a substantial number of households could make large annuity … equity and non-annuitized financial assets as "precautionary savings," tending to draw them down only when they experience a …

Social Security benefits for support. Whether persons reach late-life with positive non-annuity wealth depends importantly on … propensities. We also find that poor health is an important determinant of the drawdown of non-annuity wealth …

This paper explores the relationship between education and the evolution of wealth after retirement. Asset growth …

wealth. Moving is often associated with retirement and with precipitating shocks like the death of a spouse or by other … changes in marital status. Median housing wealth increases as the elderly age. Even when the elderly move, housing equity is … transaction cost associated with moving is apparently not the cause for the lack of the reduction in housing wealth as the elderly …

distribution of retirement wealth and the expected utility of wealth at retirement. It considers both rules that allocate a … assets as the worker ages. The analysis simulates retirement wealth using asset returns that are drawn from the historical … return distribution. The results suggest that the distribution of retirement wealth associated with typical lifecycle …