As the baby boomers begin to retire, a great deal remains unknown about the evolution of wealth toward the end of life. In this paper, we develop a new measure of household resources that converts total financial, nonfinancial, and annuitized assets into an expected annual amount of wealth per...

We construct two measures of the current wealth adequacy of older U.S. households using the 1998-2006 waves of the Health and Retirement Study (HRS). The first is the ratio of comprehensive wealth - defined as net worth plus the expected value of future income streams - to the wealth that would...