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Economic Preparation for Retirement

Economic Preparation for Retirement

(p.77) 2 Economic Preparation for Retirement
Investigations in the Economics of Aging
Michael D. HurdSusann Rohwedder
University of Chicago Press

This chapter assesses economic preparation for retirement, looking at the risk of out-of-pocket spending for health care, and shows that about 70 percent of individuals aged sixty-six to sixty-nine are adequately financially prepared for retirement. However, some individuals identified by education, sex, and marital status are not financially prepared, most notably single females who lack a high school education: just 29 percent of that group is adequately prepared. A commentary is included at the end of the chapter.

Keywords:   retirees, elderly, financial preparation, economic preparation, health care spending, out of pocket

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