Title:

Savings After Retirement, Working Paper 22-12

PREVIOUS | NEXT

Savings After Retirement, Working Paper 22-12

DATE: December 13, 2022

PART OF: AUTHORS:

ABSTRACT:

Retired households, especially those with high lifetime income, decumulate their wealth very slowly, and many die leaving large estates. The three leading explanations for the "retirement savings puzzle" are the desire to insure against uncertain lifespans and medical expenses, the desire to leave bequests to one's heirs, and the desire to remain in one's own home. We discuss the empirical strategies used to differentiate these motivations, most of which go beyond wealth to exploit additional features of the data. The literature suggests that all the motivations are present, but has yet to reach a consensus about their relative importance.

Download (pdf) View Full Text

Share this page:


Diversity is critical to the Federal Reserve, and we are firmly committed to fostering a diverse and inclusive culture throughout the Federal Reserve System. Collections within FRASER contain historical language, content, and descriptions that reflect the time period within which they were created and the views of their creators. Certain collections contain objectionable content—for example, discriminatory or biased language used to refer to racial, ethnic, and cultural groups. These viewpoints and attitudes are inconsistent with our values, but the original descriptions are retained to ensure that they are not erased from the historical record.
Save & Share
less

French, Eric (Eric Baird) , Jones, John Bailey and McGee, Rory. "Savings After Retirement, Working Paper 22-12," Working Papers (Federal Reserve Bank of Richmond) (December 13, 2022). https://fraser.stlouisfed.org/title/3942/item/628253, accessed on November 29, 2023.

More Information
less

DIGITAL COPY SOURCE: Federal Reserve Bank of Richmond

SUBJECTS: THEMES: CLASSIFICATION:
  • jel: F14
  • jel: L14
IDENTIFIER:
  • doi: https://doi.org/10.21144/wp22-12
Metadata (XML)
Metadata (JSON)