Between 1995 and 2007, inflation-adjusted house prices more than doubled in some areas of the U.S. During this unprecedented boom, households spent more and reduced their saving rate. A key question is how much of the increased spending was related to rising house prices, as opposed to other...

The stock market crash eliminated more than $2 tril­lion in wealth held in defined contribution retirement accounts, about one-third of the pre-crash total. Un­less offset by a later retirement age and/or increased retirement saving, this wealth shock will significantly reduce the retirement...

The National Retirement Risk Index (NRRI) measures the share of American households ‘at risk’ of being unable to maintain their pre-retirement standard of living in retirement. The calculations are based on the assumption that taxes remain at current levels. But federal government spending...

Many workers nearing retirement experienced a dra­matic decrease in their retirement assets due to the stock market downturn. In order to maintain their expected standard of living in retirement, workers will need to work longer, save more, or do both. To mea­sure the response of older workers...

With the virtual disappearance of traditional pensions, declining Social Security replacement rates, and longer life spans, the retirement landscape is shifting dramatically. Today, responsibility for a comfortable retirement rests mostly on the individual. This change has led to widespread...

This year, Social Security benefits received no Cost-of-Living Adjustment (COLA) for the first time since automatic adjustments were adopted in 1975. While current beneficiaries perceive themselves to be harmed, they were compensated by receiving a higher-than-normal 5.8-percent COLA payment in...

The conventional wisdom says that older workers are less likely to be displaced than younger workers. While true in the past, the conventional wisdom is no longer true today; the advantage that older workers had has disappeared. This loss of relative job security is troubling. Once displaced,...

Employers have moved away from traditional defined benefit pension plans to defined contribution plans such as 401(k)s. As a result, many individuals are now required to make their own retirement saving and investment decisions, which has raised concerns about their ability and desire to handle...

Under Social Security, married individuals are entitled to a retired worker benefit based on their own earnings and/or to a spousal benefit equal to one half of their spouse’s benefit claimed at the Full Retirement Age (currently 66). If a married individual claims before the Full Retirement...

When to claim Social Security is one of the most important decisions Americans make when approaching retirement. Currently, retirees can choose between claiming at the Full Retirement Age and receiving full benefits, claiming as early as age 62 but receiving reduced benefits, or delaying...