Wealth Distribution and Retirement Preparation Among Early Savers

Alice Henriques Volz, Lindsay Jacobs (), Elizabeth Llanes (), Kevin B. Moore and Jeffrey Thompson
Additional contact information
Alice Henriques Volz: https://www.federalreserve.gov/econres/alice-henriques-volz.htm
Lindsay Jacobs: https://lafollette.wisc.edu/faculty-staff/faculty/lindsay-jacobs
Kevin B. Moore: https://www.federalreserve.gov/econres/kevin-b-moore.htm

No 2020-043, Finance and Economics Discussion Series from Board of Governors of the Federal Reserve System (U.S.)

Abstract: This paper develops a new combined wealth measure using data from the Survey of Consumer Finances, by augmenting data on net worth with estimates of defined benefit (DB) pension wealth and expected Social Security wealth. We use this combined wealth concept to explore retirement preparation among groups of households in their pre-retirement years (40-49 and 50-59) and also to explore the concentration of wealth. We find evidence of moderate, but rising, shortfalls in retirement preparation. We also show that including DB pension and Social Security wealth results in markedly lower measures of wealth concentration. Trends toward higher concentration over time are also somewhat moderated.

Keywords: Inequality; Pensions; Retirement; Wealth; Social security (search for similar items in EconPapers)
JEL-codes: D30 H50 J10 (search for similar items in EconPapers)
Pages: 53
Date: 2020-06-12
New Economics Papers: this item is included in nep-age
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Citations: View citations in EconPapers (1)

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https://www.federalreserve.gov/econres/feds/files/2020043pap.pdf (application/pdf)

Related works:
Working Paper: Wealth Distribution and Retirement Preparation among Early Savers (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfe:2020-43

DOI: 10.17016/FEDS.2020.043

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