By David A. Wise
Analyses within the Economics of getting older summarizes a huge volume of recent study on numerous well known and less-examined issues concerning the connection among economics and getting older. one of the issues explored during this quantity, significant realization is given to new study on retirement mark downs, the price and potency of clinical assets, and the predictors of well-being events.The quantity starts with a dialogue of the dangers and benefits of 401(k) plans. next chapters current fresh research of the expansion of Medicare charges; the several features of incapacity; and the evolution of future health, wealth, and residing preparations over the existence direction. retaining with the worldwide culture of earlier volumes, Analyses within the Economics of getting older additionally contains comparative stories on discount rates habit in Italy, the Netherlands, and the U.S.; an exam of family discount rates between diverse age teams in Germany; and a bankruptcy dedicated to inhabitants getting older and the plight of widows in India. conscientiously compiled and containing the most state-of-the-art study and research to be had, this quantity can be of curiosity to any professional or policymaker all for ongoing alterations in mark downs and retirement behaviors.
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Additional info for Analyses in the Economics of Aging (National Bureau of Economic Research Conference Report)
The present discounted value (PDV) of Social Security wealth is calculated based on the reported current Social Security payments for members of the household already receiving Social Security, plus reported expected Social Security payments for other members not yet receiving Social Security. We do not use actual Social Security earnings histories to compute expected or accrued Social Security payments for individuals still in the labor force in 2000. Actual earnings histories end in 1991, and there is uncertainty about the date of retirement for individuals still in the labor force.
7 Sample size No. 9 28 James M. Poterba, Joshua Rauh, Steven F. Venti, and David A. Wise sixty-seven in 2000. The summary statistics show the clear link between education and wealth, measured both in absolute dollars and relative to final income. Annuitized wealth alone is $240,800 for the median household with less than a high school education and $375,500 for those with at least a college degree. The dispersion here is mostly due to the disparities across education categories in the level of DB pensions.
The draws are done with replacement, and we assume that there is no serial correlation in returns. We then use this return sequence to calculate the real Utility Evaluation of Risk in Retirement Savings Accounts Fig. 2 33 Empirical distribution of real S&P 500 equity returns value of each household’s retirement account balance at age sixty-three, assuming that their contributions are determined by their earnings history. We consider the full thirty-five-year working life for each household, and we evaluate both a 100 percent equity investment case and a fifty-fifty stocks and index bonds case.
Analyses in the Economics of Aging (National Bureau of Economic Research Conference Report) by David A. Wise