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Full-Text Articles in Social and Behavioral Sciences
Black-White Differences In Wealth Accumulation Among Americans Nearing Retirement, Eun Hyei Shin
Black-White Differences In Wealth Accumulation Among Americans Nearing Retirement, Eun Hyei Shin
All Graduate Theses and Dissertations, Spring 1920 to Summer 2023
Using data from the 2006 Health and Retirement Study (HRS), this study examines what types of assets and levels of savings are held by Black near-retirees, while comparing how types of assets and levels of savings of Black near-retirees differ from those of White near-retirees. Through the use of multivariate analyses, this study further investigates the effects of being Black on the levels of savings, the likelihood of holding IRAs, and the likelihood of being financially prepared for retirement. The study sample includes 4,077 individuals between the ages of 51 and 64, and the subsamples consist of 680 Black and …
A Theory Of Socioeconomic Disparities In Health Over The Life Cycle, Titus Galama, Hans Van Kippersluis
A Theory Of Socioeconomic Disparities In Health Over The Life Cycle, Titus Galama, Hans Van Kippersluis
Titus Galama
Understanding of the substantial disparity in health between low and high socioeconomic status (SES) groups is hampered by the lack of a sufficiently comprehensive theoretical framework to interpret empirical facts and to predict yet untested relations. We present a life-cycle model that incorporates multiple mechanisms explaining (jointly) a large part of the observed disparities in health by SES. In our model, lifestyle factors, working conditions, retirement, living conditions and curative care are mechanisms through which SES, health and mortality are related. Our model predicts a widening and possibly a subsequent narrowing with age of the gradient in health by SES.
2010-2 Private Pensions, Retirement Wealth And Lifetime Earnings, James C. Macgee, Jie Zhou
2010-2 Private Pensions, Retirement Wealth And Lifetime Earnings, James C. Macgee, Jie Zhou
Economic Policy Research Institute. EPRI Working Papers
No abstract provided.
What The Stock Market Decline Means For The Financial Security And Retirement Choices Of The Near-Retirement Population, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai
What The Stock Market Decline Means For The Financial Security And Retirement Choices Of The Near-Retirement Population, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai
Dartmouth Scholarship
This paper investigates the effect of the current recession on the retirement age population. Data from the Health and Retirement Study suggest that those approaching retirement age (early boomers ages 53 to 58 in 2006) have only 15.2 percent of their wealth in stocks, held directly or in defined contribution plans or IRAs. Their vulnerability to a stock market decline is limited by the high value of their Social Security wealth, which represents over a quarter of the total household wealth of the early boomers. In addition, their defined contribution plans remain immature, so their defined benefit plans represent sixty …
Diversification Across Time, Ian Ayres, Barry Nalebuff
Diversification Across Time, Ian Ayres, Barry Nalebuff
Ian Ayres
By employing leverage to gain more exposure to stocks when young, individuals can achieve better diversification across time. Using stock data going back to 1871, we show that early leverage combined with reduced equity exposure when older can reduce lifetime portfolio risk. For example, an initially-leveraged portfolio can produce the same mean accumulation as a constant 75% stock allocation with a 21% smaller standard deviation. Since the mean accumulation is the same, the reduction in volatility does not depend on the equity premium. A leveraged lifecycle strategy can also allow investors to come closer to their utility-maximizing allocation. If risk …