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 20-4, Working Papers from Federal Reserve Bank of Boston

Abstract: This paper develops a new combined-wealth measure by augmenting data on net worth from the Survey of Consumer Finances with estimates of defined benefit (DB) pension and expected Social Security wealth. We use this concept to explore retirement preparation among two groups of households in pre-retirement years (aged 40 through 49 and 50 through 59), and 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, and it slightly moderates trends toward a higher concentration over time.

Keywords: retirement adequacy; wealth inequality; Social Security (search for similar items in EconPapers)
JEL-codes: D31 D63 H55 I32 (search for similar items in EconPapers)
Pages: 52
Date: 2020-02-01
New Economics Papers: this item is included in nep-age
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Citations: View citations in EconPapers (5)

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Working Paper: Wealth Distribution and Retirement Preparation Among Early Savers (2020)
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DOI: 10.29412/res.wp.2020.04

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