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Family Status Transitions, Latent Health, and the Post-Retirement Evolution of Assets

Family Status Transitions, Latent Health, and the Post-Retirement Evolution of Assets

Chapter:
(p.23) 1 Family Status Transitions, Latent Health, and the Post-Retirement Evolution of Assets
Source:
Explorations in the Economics of Aging
Author(s):
James M. Poterba, Steven F. Venti, David A. Wise
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226903385.003.0002

This chapter focuses on the accumulation of assets in retirement saving accounts, and the implications of retirement saving for the financial circumstances of those that will be retiring in the future. The implications are profound. This chapter redirects attention from the accumulation phase to the use of accumulated assets in later life. This redirection is a natural evolution of research agenda, as 401(k)-type plans have matured. The initial work on asset drawdown suggests that accumulated assets, including both housing equity and retirement accounts, tend to be conserved for transitional life events, such as adverse health changes, widowhood, or nursing home entry. This chapter aims to analyze more carefully these relationships.

Keywords:   retirement, assets, Health and Retirement Study, post-retirement, family status, latent health

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