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Demographic Change, Social Security Systems, and Savings

Bloom, David E. - 2010

little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent … retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing … a cross-country panel of macroeconomic data, we find that increased longevity raises aggregate savings rates in …

Persistent link: https://www.econbiz.de/10012760611

Annuity Prices and Saving Behavior in the United States

Friedman, Benjamin M. - 2010

The observed reluctance of most individuals in the United States to buy individual life annuities, and the concomitant approximately flat average age-wealth profile, stand in sharp contradiction to the standard life cycle model of consumption-saving behavior. The analysis in this paper lends...

Persistent link: https://www.econbiz.de/10012762959

Life-Cycle Saving, Limits on Contributions to Dc Pension Plans, and Lifetime Tax Benefits

Gokhale, Jagadeesh - 2010

limits bind those older middle-income households who started their pension savings programs late in life, those who plan to …

Persistent link: https://www.econbiz.de/10012763191

Comparing the Economic and Conventional Approaches to Financial Planning

Gokhale, Jagadeesh - 2010

The conventional approach to retirement and life insurance planning, which is used throughout the financial planning industry, differs markedly from the economic approach. The conventional approach asks households to specify how much they want to spend before retirement, after retirement, and in...

Persistent link: https://www.econbiz.de/10012763772

A Theory of Retirement

Bloom, David E. - 2007

We construct a life-cycle model in which retirement occurs at the end of life as a result of declining health. We show that improvements in life expectancy, coupled with a delay in the onset of disability, increases both the optimal consumption level and the proportion of life spent in leisure....

Persistent link: https://www.econbiz.de/10012775556

The Effect of Subjective Survival Probabilities on Retirement and Wealth in the United States

Bloom, David E. - 2010

We explore the proposition that expected longevity affects retirement decisions and accumulated wealth using micro data drawn from the Health and Retirement Study for the United States. We use data on a person's subjective probability of survival to age 75 as a proxy for their prospective...

Persistent link: https://www.econbiz.de/10012760540

Retirement income strategies designed in an expected utility framework

Warshawsky, Mark J. - In: Financial services review : the journal of individual … 26 (2017) 2, pp. 113-141

Persistent link: https://www.econbiz.de/10011761464

Taxing Retirement Income : Nonqualified Annuities and Distributions from Qualified Accounts

Brown, Jeffrey R.; Mitchell, Olivia S.; Poterba, James M.; … - 2021

This paper explores the current tax treatment of non-qualified immediate annuities and distributions from tax-qualified retirement plans in the United States. First, we describe how immediate annuities held outside retirement accounts are taxed. We conclude that the current income tax treatment...

Persistent link: https://www.econbiz.de/10013228615