Income trajectories in later life: Longitudinal evidence from the Health and Retirement Study

Olivia Mitchell, Robert L. Clark and Annamaria Lusardi ()

The Journal of the Economics of Ageing, 2022, vol. 22, issue C

Abstract: We track low-income respondents in the longitudinal Health and Retirement Study for 23 years, to observe how their financial situations unfolded as they aged. We document that (a) real incomes remained relatively stable as individuals entered retirement and progressed through their later years; and (b) labor force participation declined and thus earnings became less important with age, while Social Security and retirement savings rose as a proportion of annual income. Low-income people near retirement also tended to fare poorly during retirement.

Keywords: Financial literacy; Financial resilience; Aging; Vulnerable groups (search for similar items in EconPapers)
JEL-codes: D14 G53 I38 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joecag:v:22:y:2022:i:c:s2212828x22000044

DOI: 10.1016/j.jeoa.2022.100371

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