Alternative Measures of Replacement Rates.

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dc.contributor.author Hurd, Michael D.
dc.contributor.author Rohwedder, Susann
dc.date.accessioned 2007-02-12T22:25:54Z
dc.date.available 2007-02-12T22:25:54Z
dc.date.issued 2006-10
dc.identifier.uri http://hdl.handle.net/2027.42/49392
dc.description.abstract This study finds that on average those just past the usual retirement age are adequately prepared for retirement in that they will be able to follow a path of consumption that begins at their current level of consumption and then follows an age-pattern similar to that of current retirees. That pattern is similar to what would be found from a theoretically derived and estimated life-cycle model. Thus we do not find inadequate preparation for retirement on average or even at the median. This is not true, however, for all groups in the population. In particular, singles lacking a high school education are likely to be forced to reduce consumption: some 62% would have died with negative wealth had they followed the consumption path given by our data. Future research will show the extent to which this percentage is over-estimated because we did not account for differential mortality. en
dc.description.sponsorship Social Security Administration en
dc.format.extent 150958 bytes
dc.format.mimetype application/pdf
dc.language.iso en_US en
dc.publisher Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104 en
dc.relation.ispartofseries WP 2006-132 en
dc.title Alternative Measures of Replacement Rates. en
dc.type Working Paper en
dc.subject.hlbsecondlevel Population and Demography
dc.subject.hlbtoplevel Social Sciences
dc.contributor.affiliationum University of Michigan Retirement Research Center en
dc.contributor.affiliationum Institute for Social Research
dc.contributor.affiliationother RAND en
dc.contributor.affiliationumcampus Ann Arbor en
dc.description.bitstreamurl http://deepblue.lib.umich.edu/bitstream/2027.42/49392/1/wp132.pdf en_US
dc.owningcollname Retirement Research Center, Michigan (MRRC)
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