Individuals' Uncertainty about Future Social Security Benefits and Portfolio Choice

Adeline Delavande and Susann Rohwedder

No WR-782, Working Papers from RAND Corporation

Abstract: Little is known about the degree to which individuals are uncertain about their future Social Security benefits, how this varies within the U.S. population, and whether this uncertainty influences financial decisions related to retirement planning. To illuminate these issues, the authors present empirical evidence from the Health and Retirement Study Internet Survey and document systematic variation in respondents' uncertainty about their future Social Security benefits by individual characteristics. They find that respondents with higher levels of uncertainty about future benefits hold a smaller share of their wealth in stocks.

Keywords: expectations; portfolio choice; subjective probabilities; uncertatinty; Health and Retirement Study (search for similar items in EconPapers)
JEL-codes: D01 D14 D81 G11 (search for similar items in EconPapers)
Pages: 42
Date: 2010-09
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Individuals' uncertainty about future social security benefits and portfolio choice (2011)
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