James F. Moore
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NBER Working Papers and Publications
|October 1997||Projected Retirement Wealth and Savings Adequacy in the Health and Retirement Study|
with Olivia S. Mitchell: w6240
Low saving rates raise questions about Americans' ability to maintain consumption levels in old age. Using the Health and Retirement Study, this paper explores asset holdings among a nationally representative sample of people on the verge of retirement. Making reasonable projections about asset growth, we assess how much more people would need to save in order to preserve consumption levels after retirement. We find that the median older household has current wealth of approximately $325,000 including pensions, social security, housing, and other financial wealth, an amount projected to grow to about $380,000 by retirement at age 62. Nevertheless, our model suggests that this median household will still need to save 16% of annual earnings to preserve pre-retirement consumption. For retir...
Published: Forecasting Retirement Needs and Retirement Wealth, Mitchell, O.S., B. Hammond and A. Rappaport, eds., Pension Research Council, Philadelphia: University of Pennsylvania Press, 2000, pp. 68-94.
|September 1997||Retirement Wealth Accumulation and Decumulation: New Developments and Outstanding Opportunities|
with Olivia S. Mitchell: w6178
Analysts have raised questions about current workers' ability and inclination to save" enough for retirement. This issue is of obvious policy interest given the current debate over" reforming national retirement income programs. This paper explores the implications of recent" research regarding retirement wealth accumulation and decumulation for this debate. Our goal is" to identify problems and opportunities in the area of preparedness for retirement."
Published: Journal of Risk and Insurance, Vol. 65, no. 3 (December 1998): 371-400.