mandatory minimum withdrawals will leave seniors with negligible income from their tax-deferred saving in their later years …. We need to ensure that minimum withdrawals and the ages at which saving must stop and withdrawals must start reflect …

the aggregate consumption to income ratio. By standard intertemporal budget constraint logic, this ratio is linked to … expectations of future income and consumption growth rates. We investigate whether these expectations suffice to explain the shifts … in the consumption-income ratio that occur during disaster periods or whether, on the other hand, consumers become more …