Retirees confront the difficult problem of how to manage their money in retirement so as to not outlive their funds … allocation decisions when managing her retirement financial wealth and annuities, and we prove that she can benefit from both the … equity premium and longevity insurance in her retirement portfolio. Even without bequests, she will not fully annuitize …

Tax-qualified retirement plans seek to promote saving for retirement, yet most employers permit pre- retirement access …

consumer who can select her hours of work and also her retirement age. Using a realistically-calibrated model with stochastic … work effort by the young; and markedly enhances lifetime welfare. Also, introducing annuities leads to earlier retirement … as well as sensible retirement age patterns. …

This paper advances the specification and estimation of models of retirement and saving in two earner families. The … complications introduced by the interaction of retirement decisions by husbands and wives have led researchers to adopt a number of … simplifications to increase the feasibility of estimating family retirement models. Our model relaxes these restrictions. It includes …

Retirement Study and includes members of households with at least one person age 51 to 56 in either 1992 or in 2004. As expected …

This paper estimates a structural model of family retirement using U.S. data from the Health and Retirement Study (HRS … descriptions. We find that a measure of how much each spouse values being able to spend time in retirement with the other accounts … for a good portion of the apparent interdependence of the retirement decisions of husbands and wives. When we include this …