How Economic Security Changes During Retirement
Barbara Butrica
Working Papers, Center for Retirement Research at Boston College from Center for Retirement Research
Abstract:
Most studies of retirement well-being have focused on outcomes for relatively young retirees. Few studies have considered how retirement security changes as older Americans age. Following older adults from age 67 (when most have stopped working) to age 80, this study uses projections of wealth and income to assess how their economic security changes during retirement. Results indicate that typical older adults experience a decline in retirement wealth and income between ages 67 and 80. More than two-fifths of retirees will have significantly less income at age 80 than they did at age 67, with the median decline in income being $16,000 for current retirees and $23,000 for boomers. Some older adults, however, will be better off later in retirement. Approximately two-fifths of retirees will have significantly more income at age 80 than they did at age 67, with the median increase in income being $14,000 for current retirees and $17,000 for boomers. At least some of the change in economic well-being during retirement is related to changes in marital status, health status, living arrangements, and work status.
Keywords: retirement security; change; decline; increase; loss; gain; economic well-being; younger; older; retirees (search for similar items in EconPapers)
Pages: 33 pages
Date: 2007-02, Revised 2007-02
New Economics Papers: this item is included in nep-age and nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
http://crr.bc.edu/working-papers/how-economic-secu ... s-during-retirement/
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:crr:crrwps:wp2007-06
Access Statistics for this paper
More papers in Working Papers, Center for Retirement Research at Boston College from Center for Retirement Research Contact information at EDIRC.
Bibliographic data for series maintained by Amy Grzybowski () and Christopher F Baum ().