high correlation between earnings and wealth in the data, as well as the fact that earnings are a major source of income … for top income and wealth groups. … bequests as potential determinants of the high level of wealth concentration in the US. Analyzing the joint distribution of …

As the baby boomers begin to retire, a great deal remains unknown about the evolution of wealth toward the end of life … annuitized assets into an expected annual amount of wealth per person. We use this measure, which we call annualized … comprehensive wealth, to investigate spend-down behavior among older households in the Health and Retirement Study. Our analysis …

reduction in homeownership across generations. Lower-income households find it harder to buy housing, and as a result accumulate … less wealth. …