Jason Scott
JS Consulting
Loding Complete
Explore Research
New This Week
We examine optimal retirement saving for young adults in a life cycle model. We find that for liquidity-constrained young adults who anticipate significant earnings growth, optimal retirement saving is zero. Specifically, we find that with a plausible wage profile for college-educated workers,...
Simple presentations of the life cycle model often suggest a constant level of real consumption in retirement. Similarly, financial planners commonly suggest that people save for retirement in such a way as to enable them to maintain a level retirement standard of living equal to their standard of...
We examine the implications of persistent low real interest rates and wage growth rates on individuals nearing retirement. We begin by reviewing the concept of r star the long-term real, safe interest rate that is neither expansionary nor contractionary and presenting recent estimates suggesting...
August 10, 2018 - Chapter
This paper compares the relative strengths of working longer versus saving more in terms of increasing a household's affordable, sustainable standard of living in retirement. Both stylized households and actual households from the Health and Retirement Study are examined. We assume that workers...
April 30, 2018 - Article
A 66-year-old worker who works one year longer and claims Social Security one year later sees a 7.75 percent rise in his inflation-adjusted retirement income, 83 percent of which comes from the rise in Social Security benefits. Working a little longer, and postponing the start of Social Security...
This paper compares the relative strengths of working longer vs. saving more in terms of increasing a households affordable, sustainable standard of living in retirement. Both stylized households and actual households from the Health and Retirement Study are examined. We assume that workers commence...
Recent research has documented that delaying the commencement of Social Security benefits increases the expected present value of retirement income for most people. Despite this research, the vast majority of individuals claim Social Security at or before full retirement age. Claiming Social...
Show: results