Savings after Retirement: A Survey

Mariacristina De Nardi, Eric French and John Jones

Chicago Fed Letter, 2016, No 356

Abstract: Retired U.S. households, especially those with high income, decumulate their assets more slowly than implied by the basic life cycle model. The observed patterns of out-of-pocket medical expenses, which rise quickly with age and income during retirement, and longevity, which also rises with income, can explain a significant portion of U.S. retirement saving. However, more work is needed to disentangle these precautionary motives from other motives, such as the desire to leave bequests.

Keywords: retirement; life saving; bequest; Income (search for similar items in EconPapers)
Date: 2016
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Journal Article: Savings After Retirement: A Survey (2016)
Working Paper: Savings After Retirement: A Survey (2015)
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