retirement and constrained borrowing against future labor income. In particular, a linear consumption rule in financial wealth … and savings for retirement is captured by the generalized PIH rule. Finally, I find that an individual's aggressive risk …I study optimal consumption and investment for retirement in an economic environment where an individual has retirement …

why people borrow so much and why they wait so long to save for retirement. We reach a different set of conclusions. We … may borrow far less and start saving for retirement significantly earlier than exponential discounters. …

With interest rates on fixed income investments hovering near historic lows, a growing cadre of retirement researchers … has been sounding alarm bells regarding the unprecedented portfolio risk faced by consumers who are approaching retirement … nightmarish sequence of return scenario for retirement spending portfolios the likes of which we have never seen. With conditions …

We revisit the alleged retirement consumption puzzle. According to the life-cycle theory, foreseeable income reductions …-cycle theory. For retirees we also find significant effects of the income reduction at retirement on housing. However, the effects … endowments after retirement, the theory does predict a fall of total market consumption expenditures. In order not to mistake …

— demographics, retirement income, debt, health insurance, long-term-care coverage, and spending patterns — of the retiree profiles … Retirees seek to maintain or grow their financial assets in retirement. When it comes to sources of income, defined benefit (DB … have access to more types of retirement income than the retirees from the other groups, with defined benefit pension plans …

retirement. We show that older, low-income and single-female households cannot afford their needs for household goods and medical …In this paper, we study the changes in needs and purchases post-retirement using a unique survey of elderly Australians … related to changes in needs and purchases in retirement. We find that households where finances are managed by females are …

declining in the years that follow. Prior research has documented that consumption declines at retirement, which is inconsistent … retirement confirming the results of Aguiar and Hurst (2005, 2013) …