Planning for retirement and subsequent execution of the plan are difficult, but essential for financial security in old … accumulate lower pension wealth. The possibility of rational inaction can explain other robustly observed behaviours, such as … disproportionately low savings of individuals on low incomes and non-fungibility between public and private pension wealth. The model is …

utility to differ between households with and without offspring. Our estimates imply a very strong utility of residual wealth …-quarters of aggregate wealth at age 85. More surprisingly, we estimate similar utility of residual wealth for households with and … without offspring. We interpret this as suggestive evidence that the utility of residual wealth represents forces beyond an …

capital gains, and save at higher rates. At age 50, the excess wealth of the top 0.1% group relative to mid-wealth households … is accounted for in about equal terms by higher saving rates (34%), higher initial wealth (32%), and higher returns (27 … Money are characterized by even higher saving rates and returns and also by higher labor income. Their excess wealth is …

We quantify the size and tax-responsiveness of financial transfers made to heirs before death. The wealth of singles … to children, while long-term care copayments can explain the remainder. Tax-reducing transfers are made across the wealth …

) countries and also broken down by the age group of the household head. We find that pre-retirement households (households with a …In this paper, we analyze the borrowing behavior of Japanese households in comparison to the other Group of Seven (G7 … satisfactory. However, we also find that households with a head in the 30-39 age group have shown a sharp increase in debt holdings …