Baby boomer retirement security: The roles of planning, financial literacy, and Housing wealth
Annamaria Lusardi () and
Olivia Mitchell
No 2006/20, CFS Working Paper Series from Center for Financial Studies (CFS)
Abstract:
We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and individuals in the same age group in 1992. Levels and patterns of total net worth have changed relatively little over time, though Boomers rely more on housing equity than their predecessors. Most important, planners in both cohorts arrive close to retirement with much higher wealth levels and display higher financial literacy than non-planners. Instrumental variables estimates show that planning behavior can explain the differences in savings and why some people arrive close to retirement with very little or no wealth.
Keywords: Wealth Holdings; Housing Wealth; Lack of Planning; Literacy; Cohorts (search for similar items in EconPapers)
JEL-codes: D91 E21 (search for similar items in EconPapers)
Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (24)
Downloads: (external link)
https://www.econstor.eu/bitstream/10419/25486/1/518561402.PDF (application/pdf)
Related works:
Journal Article: Baby Boomer retirement security: The roles of planning, financial literacy, and housing wealth (2007) 
Working Paper: Baby Boomer Retirement Security: The Roles of Planning, Financial Literacy, and Housing Wealth (2006) 
Working Paper: Baby Boomer Retirement Security: The Roles of Planning, Financial Literacy, and Housing Wealth (2006) 
Working Paper: Baby Boomer Retirement Security: the Roles of Planning, Financial Literacy, and Housing Wealth (2006) 
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:zbw:cfswop:200620
Access Statistics for this paper
More papers in CFS Working Paper Series from Center for Financial Studies (CFS) Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().