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The Effect of Large Capital Gains or Losses on Retirement

The Effect of Large Capital Gains or Losses on Retirement

Chapter:
(p.127) 4 The Effect of Large Capital Gains or Losses on Retirement
Source:
Developments in the Economics of Aging
Author(s):
Michael D. HurdMonika RetiSusann Rohwedder
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226903361.003.0005

The stock market boom of the mid-1990s to 2000, and the subsequent bust between 2000 and 2002, provides an opportunity to study what was likely an unexpected wealth change for at least part of the population. This chapter examines whether households used wealth gain to retire earlier than anticipated. The researchers found no evidence that workers in households which had large gains retired earlier than they had anticipated, or that they revised their retirement expectations compared with workers in households that had no large gains.

Keywords:   retirement, wealth gain, stock market boom, stock market busts

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