University of Michigan Retirement Research Center Research Paper Series最新文献_第2页

Older Adult Debt and Financial Frailty 老年人债务和财务脆弱性

University of Michigan Retirement Research Center Research Paper Series Pub Date : 2013-09-30 DOI: 10.2139/ssrn.2376493

A. Lusardi, O. Mitchell

{"title":"Older Adult Debt and Financial Frailty","authors":"A. Lusardi, O. Mitchell","doi":"10.2139/ssrn.2376493","DOIUrl":"https://doi.org/10.2139/ssrn.2376493","url":null,"abstract":"Of particular interest in the present economic environment is whether access to credit is changing peoples’ indebtedness over time, particularly as they approach retirement. This project analyzes older individuals’ debt, debt management practices, and financial fragility using data from the Health and Retirement Study (HRS) and the National Financial Capability Study (NFCS). Specifically, we examine three different cohorts (individuals age 56–61) in different time periods, 1992, 2002 and 2008, in the HRS to evaluate cross-cohort changes in debt over time. We also draw on recent data from the National Financial Capability Study (NFCS) which provides detailed information on how families manage their debt. Our goal is to assess how wealth and debt among older persons has evolved over time, along with the potential consequences for retirement security. We find that more recent cohorts have taken on more debt and face more financial insecurity, mostly due to having purchased more expensive homes with smaller down payments. In addition, Baby Boomers are more likely to have engaged in expensive borrowing practices. Factors associated with better debt outcomes include having higher income, more education, and greater financial literacy; those associated with financial fragility include having more children and experiencing unexpected large income declines. Thus, shocks do play a role in the accumulation of debt close to retirement. But it is not enough to have resources, people also need the capacity to manage those resources if they are to stay out of debt as they head into retirement.","PeriodicalId":164882,"journal":{"name":"University of Michigan Retirement Research Center Research Paper Series","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114423959","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 19

Motives for Bequests within the Middle Class 中产阶级遗赠的动机

University of Michigan Retirement Research Center Research Paper Series Pub Date : 2012-11-01 DOI: 10.2139/ssrn.2200996

J. Laitner, A. Sonnega

引用次数: 4

Barriers to Later Retirement: Increases in the Full Retirement Age, Age Discrimination, and the Physical Challenges of Work 推迟退休的障碍:法定退休年龄的提高、年龄歧视和工作中的身体挑战

University of Michigan Retirement Research Center Research Paper Series Pub Date : 2012-09-01 DOI: 10.2139/ssrn.2188363

D. Neumark, J. McLaughlin

{"title":"Barriers to Later Retirement: Increases in the Full Retirement Age, Age Discrimination, and the Physical Challenges of Work","authors":"D. Neumark, J. McLaughlin","doi":"10.2139/ssrn.2188363","DOIUrl":"https://doi.org/10.2139/ssrn.2188363","url":null,"abstract":"Policy changes intended to delay retirements of older workers and extend their work lives may run up against demand-side barriers from age discrimination, and supply-side barriers owing to rising physical challenges of work as people age. We study three questions. How do age discrimination protections affect labor market transitions of workers encouraged to work longer by increases in Social Security’s Full Retirement Age (FRA)? How do physical challenges at work influence employment transitions of older workers for whom public policy is trying to delay retirement? And what role do stronger age discrimination protections play in helping workers facing physical challenges at work? We find that stronger state age discrimination protections increase employment and hiring for older workers caught by increases in the FRA. We also find that physical challenges pose a barrier to extending work lives, although some workers with physically-demanding jobs are able to mitigate these demands -- either at new jobs or with the same employer. However, for the most part stronger age discrimination protections do not appear to contribute to older workers’ ability to mitigate physical challenges at work.","PeriodicalId":164882,"journal":{"name":"University of Michigan Retirement Research Center Research Paper Series","volume":"124 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132861989","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 18

Does Disability Insurance Receipt Discourage Work? Using Examiner Assignment to Estimate Causal Effects of SSDI Receipt 残疾保险收据阻碍工作吗?使用审查员作业评估SSDI接收的因果效应

University of Michigan Retirement Research Center Research Paper Series Pub Date : 2012-06-07 DOI: 10.2139/ssrn.2143210

Nicole Maestas, Kathleen J. Mullen, Alexander Strand

引用次数: 440

Earnings Growth versus Measures of Income and Education for Predicting Mortality 收入增长与收入和教育对预测死亡率的影响

University of Michigan Retirement Research Center Research Paper Series Pub Date : 2011-09-01 DOI: 10.2139/ssrn.2022007

H. Duleep, David A. Jaeger

引用次数: 17

Post-Retirement Adjustments in Defined Benefit Pensions 固定收益养老金的退休后调整

University of Michigan Retirement Research Center Research Paper Series Pub Date : 2010-12-01 DOI: 10.2139/SSRN.1749500

Charles Brown

引用次数: 2

Intergenerational Transfers in the Health and Retirement Study Data 健康和退休研究数据的代际转移

University of Michigan Retirement Research Center Research Paper Series Pub Date : 2010-11-01 DOI: 10.2139/ssrn.1710726

J. Laitner, A. Sonnega

引用次数: 9

Geographic Dispersion and the Well-Being of the Elderly 地理分布与老年人福祉

University of Michigan Retirement Research Center Research Paper Series Pub Date : 2010-10-01 DOI: 10.2139/ssrn.1710148

Suzanne Bianchi, Kathleen M. McGarry, Judith Seltzer

{"title":"Geographic Dispersion and the Well-Being of the Elderly","authors":"Suzanne Bianchi, Kathleen M. McGarry, Judith Seltzer","doi":"10.2139/ssrn.1710148","DOIUrl":"https://doi.org/10.2139/ssrn.1710148","url":null,"abstract":"Perhaps the largest problem confronting our aging population is the rising cost of health care, particularly the costs borne by Medicare and Medicaid. A chief component of this expense is long-term care. Much of this care for an unmarried (mostly widowed) mother is currently provided by adult children. The provision of family care depends importantly on the geographic dispersion of family members. In this study we provide preliminary evidence on the geographic dispersion of adult children and their older unmarried mother. Coresidence is less likely for married adult children, those who are parents and the highly educated and more likely for those who are not working or only employed part time and for black and Hispanic adult children. Close proximity is more common for married children who are parents but less common for the highly educated. When we look at transitions between one wave of data collection and the next (a 2-year interval), about half of adult children live more than 10 miles away at both points, a little less than one quarter live within 10 miles at both points, and 8 percent are coresident at both points in time. Among the 17 percent who make a transition, about half of the changes result in greater distance between the adult child and mother and half bring them into closer proximity. The needs of both generations are likely reflected in these transitions. In fact, a mother’s health is not strongly related to most transitions and if anything, distance tends to be greater for older mothers relative to those mothers in their early 50s.","PeriodicalId":164882,"journal":{"name":"University of Michigan Retirement Research Center Research Paper Series","volume":"121 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126863194","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 8

Cognitive Ability and Retiree Health Care Expenditure 认知能力与退休人员医疗保健支出

University of Michigan Retirement Research Center Research Paper Series Pub Date : 2010-09-01 DOI: 10.2139/ssrn.1710118

Hanming Fang, Lauren Hersch Nicholas, Dan Silverman

引用次数: 4

How Do Pension Changes Affect Retirement Preparedness? The Trend to Defined Contribution Plans and the Vulnerability of the Retirement Age Population to the Stock Market Decline of 2008-2009 养老金变化如何影响退休准备?2008-2009年股票市场下跌对固定缴款计划的影响及退休年龄人口的脆弱性

University of Michigan Retirement Research Center Research Paper Series Pub Date : 2009-10-01 DOI: 10.2139/SSRN.1513405

Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai

{"title":"How Do Pension Changes Affect Retirement Preparedness? The Trend to Defined Contribution Plans and the Vulnerability of the Retirement Age Population to the Stock Market Decline of 2008-2009","authors":"Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai","doi":"10.2139/SSRN.1513405","DOIUrl":"https://doi.org/10.2139/SSRN.1513405","url":null,"abstract":"Our findings suggest that although the consequences of the decline in the stock market are serious for those approaching their retirement, the average person approaching retirement age is not likely to suffer a life changing financial loss from the stock market downturn of 2008-2009. Similarly, the likely effects of the stock market downturn on retirements have been greatly exaggerated. If there is any postponement of retirement due to stock market losses, on average it will be a matter of a few months rather than years. Counting layoffs, retirements may be accelerated rather than reduced. We provide background information that corrects misperceptions about pension holdings of the retirement age population. Pension coverage is much more extensive than is usually recognized. Over three quarters of the households with a person ages 51 to 56 in 2004 are currently covered by a pension, or have enjoyed pension coverage in the past. Pension wealth accounts for 23 percent of the total wealth of those on the cusp of retirement. For those nearing retirement age, defined contribution plans remain immature. As a result, almost two thirds of pension wealth held by those 51 to 56 in 2004 is in the form of a defined benefit plan. Lastly, women approaching retirement age are more likely to be covered by a pension than are women from earlier cohorts and they account for a significantly larger share of household pension wealth.","PeriodicalId":164882,"journal":{"name":"University of Michigan Retirement Research Center Research Paper Series","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116120516","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 21