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Economic Preparation for Retirement

Economic Preparation for Retirement

Chapter:
(p.77) 2 Economic Preparation for Retirement
Source:
Investigations in the Economics of Aging
Author(s):
Michael D. HurdSusann Rohwedder
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226903163.003.0003

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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