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dc.contributor.authorHaider, Steven J.
dc.contributor.authorStephens, Mel Jr.
dc.date.accessioned2007-02-12T22:48:18Z
dc.date.available2007-02-12T22:48:18Z
dc.date.issued2006-09
dc.identifier.urihttps://hdl.handle.net/2027.42/49395
dc.description.abstractThis paper examines the ability of workers nearing retirement to report their expected retirement savings, where retirement savings refers to funds held in savings, checking, and investment-type accounts. Responding to such a question is likely to be difficult, even for those who are near retirement, because it requires respondents to assess when they will retire, their likely income stream between the survey date and retirement, and what portfolio choices will be made at retirement. Based on two nationally representative surveys collected two decades apart, we find that most individuals provide some response to the question, particularly when they are allowed to provide a range. Moreover, the responses that are given have substantial predictive power for actual retirement savings, even when compared to the savings in the initial wave. Despite this predictive power, there is evidence that responses do not satisfy the more stringent requirements of the rational expectations hypothesis.en
dc.description.sponsorshipSocial Security Administrationen
dc.format.extent313427 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen
dc.publisherMichigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104en
dc.relation.ispartofseriesWP 2006-128en
dc.titleHow Accurate are Expected Retirement Savings?en
dc.typeWorking Paperen
dc.subject.hlbsecondlevelPopulation and Demography
dc.subject.hlbtoplevelSocial Sciences
dc.contributor.affiliationumUniversity of Michigan Retirement Research Centeren
dc.contributor.affiliationumInstitute for Social Research
dc.contributor.affiliationotherMichigan State Universityen
dc.contributor.affiliationotherCarnegie Mellon University and NBERen
dc.contributor.affiliationumcampusAnn Arboren
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/49395/1/wp128.pdfen_US
dc.owningcollnameRetirement Research Center, Michigan (MRRC)


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