Assessing the Maintenance of Savings Sufficiency Over the First Decade of Retirement

37 Pages Posted: 10 Nov 2005

See all articles by Robert Haveman

Robert Haveman

University of Wisconsin - Madison - Department of Economics; National Bureau of Economic Research (NBER); IZA Institute of Labor Economics; CESifo (Center for Economic Studies and Ifo Institute)

Karen Holden

University of Wisconsin - Madison - School of Human Ecology

Barbara Wolfe

University of Wisconsin-Madison; IZA Institute of Labor Economics; CESifo (Center for Economic Studies and Ifo Institute); RSSS-economics; National Bureau of Economic Research (NBER)

Andrei Romanov

University of Wisconsin - Madison - Robert M. La Follette School of Public Affairs

Date Written: October 2005

Abstract

The adequacy of retirement savings is central to the U.S. debate over the effects of Social Security reform and pension changes that would place greater responsibility on individuals for accumulation of retirement resources. We contribute to this discussion by examining the extent to which individuals maintain initial levels of resources over the first decade of retirement. We compare annuitized wealth, including Social Security and pension wealth, to two consumption standards - a household's preretirement earnings and the poverty threshold. We analyze the relationship of individual characteristics to changes in this ratio over time, including the effects of widowhood and post-retirement work.

JEL Classification: J14, J26

Suggested Citation

Haveman, Robert H. and Holden, Karen Anderson and Wolfe, Barbara L. and Romanov, Andrei, Assessing the Maintenance of Savings Sufficiency Over the First Decade of Retirement (October 2005). CESifo Working Paper Series No. 1567. Available at SSRN: https://ssrn.com/abstract=844666

Robert H. Haveman (Contact Author)

University of Wisconsin - Madison - Department of Economics ( email )

1180 Observatory Drive
Madison, WI 53706
United States
608-263-7398 (Phone)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

Karen Anderson Holden

University of Wisconsin - Madison - School of Human Ecology ( email )

1225 Observatory Drive
Madison, WI 53706
United States
608-263-9283 (Phone)

Barbara L. Wolfe

University of Wisconsin-Madison ( email )

Social Science Bldg
Madison, WI 53706
United States
6082626358 (Phone)

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

RSSS-economics ( email )

Canberra, Australian Capital Territory 2601
Australia

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Andrei Romanov

University of Wisconsin - Madison - Robert M. La Follette School of Public Affairs ( email )

1180 Observatory Drive
Madison, WI 53706-1393
United States

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