and 1975 Retirement History Survey that have been linked to Social Security earnings records. Nearly 500 white, married …, fully retired couples ages 62-69 form the basis of the analysis. On average their consumption early in retirement exceeds by … saving, both private and through Social Security, is insufficient to sustain consumption throughout the rest of their lives …

This paper explores how an environment of persistent low returns influences saving, investing, and retirement behaviors … observed saving, work, and claiming age behavior of U.S. households. In particular, our model generates a large peak at the … the (system-defined) Full Retirement Age of 66. In the context of a zero return environment, we show that workers will …

Choices regarding the disposition of wealth at retirement can have substantial implications for retirement income … find that these groups of retirees report very different levels of well-being in retirement …

People earn just enough to get by' is a phrase often used to explain the low personal saving rate in the United States … approaching retirement. It is not only households with low incomes that save little; a significant proportion of high income … largely outside the control of individuals' that might limit the resources from which saving might plausibly be made. We also …

planned and actual retirement and saving, there is at best a modest relation of knowledge measures to planned and actual …Using data from the Health and Retirement Study, this paper creates variables measuring knowledge about future social … misinformation, imprecision and lack of information about retirement benefits is the norm. Those who are most dependent on social …

same time, the distribution of wealth is widely dispersed and many workers arrive on the verge of retirement with few or no … from the equity premium. Second, financial literacy is positively related to retirement planning, and the development of a …

We define and estimate measures of economic preparation for retirement based on a complete inventory of economic …

financial literacy and retirement planning, we develop an IV strategy by making use of regional variation in the financial … knowledge of peers. We find a positive impact of financial knowledge on retirement planning …

show that people who score higher on the financial literacy questions are also much more likely to plan for retirement …

others. Moreover, the more financially knowledgeable are also those most likely to plan for retirement. In fact, answering … retirement in countries as diverse as Germany, the U.S., Japan, and Sweden; in the Netherlands, it boosts planning by 10 … financial literacy on retirement planning. In sum, around the world, financial literacy is critical to retirement security …