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What Explains Low Old-Age Income? Evidence from the Health and Retirement Study

Mitchell, Olivia S.; Clark, Robert L.; Lusardi, Annamaria - National Bureau of Economic Research - 2021

We examine respondents in the Health and Retirement Study (HRS) to observe how their financial situations unfolded as they aged. We focus on low income older adults and follow them over time to identify the factors associated with having low income at baseline and thereafter. We find that (a)...

Persistent link: https://www.econbiz.de/10012510599

Financial literacy and retirement planning : new evidence from the Rand American Life Panel

Lusardi, Annamaria (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003651403

Planning and financial literacy : how do women fare?

Lusardi, Annamaria (contributor); … - 2008

"Many older US households have done little or no planning for retirement, and there is a substantial population that seems to undersave for retirement. Of particular concern is the relative position of older women, who are more vulnerable to old-age poverty due to their longer longevity. This...

Persistent link: https://www.econbiz.de/10003651557

Financial literacy and retirement preparedness : evidence and implications for financial education programs

Lusardi, Annamaria (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003448532

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

Lusardi, Annamaria (contributor); … - 2006

Persistent link: https://www.econbiz.de/10003376961

How ordinary consumers make complex economic decisions : financial literacy and retirement readiness

Lusardi, Annamaria; Mitchell, Olivia S. - 2010

This paper explores who is financially literate, whether people accurately perceive their own economic decision-making skills, and where these skills come from. Self-assessed and objective measures of financial literacy can be linked to consumers’ efforts to plan for retirement in the American...

Persistent link: https://www.econbiz.de/10003980633

Financial sophistication in the older population

Lusardi, Annamaria; Mitchell, Olivia S.; Curto, Vilsa - 2012

This paper examines data on financial sophistication among the U.S. older population, using a special-purpose module implemented in the Health and Retirement Study. We show that financial sophistication is deficient for older respondents (aged 55+). Specifically, many in this group lack a basic...

Persistent link: https://www.econbiz.de/10009572844

How family status and social security claiming options shape optimal life cycle portfolios

Hubener, Andreas; Maurer, Raimond; Mitchell, Olivia S. - 2013

Household decisions are profoundly shaped by a complex set of financial options due to Social Security rules determining retirement, spousal, and survivor benefits, along with benefit adjustments that vary with the age at which these are claimed. These rules influence optimal household asset...

Persistent link: https://www.econbiz.de/10010200886

Optimal social security claiming behavior under lump sum incentives : theory and evidence

Maurer, Raimond; Mitchell, Olivia S.; Rogalla, Ralph; … - 2019

Many Americans claim Social Security benefits early, though this leaves them with lower benefits throughout retirement. We build a lifecycle model that closely tracks claiming patterns under current rules, and we use it to predict claiming delays if, by delaying benefits, people received a lump...

Persistent link: https://www.econbiz.de/10012113838

Pensions and the U.S. Labor Market

Gustman, Alan L. - 1990

market.<br> Available evidence indicates that pensions must be viewed as part of a long-term employment relation. For this … and employment Combining information on employee characteristics, turnover and retirement patterns, company inputs and …-side information with employment and wage histories of employees …

Persistent link: https://www.econbiz.de/10012475704