Analyses in the Economics of Aging (National Bureau of by David A. Wise

By David A. Wise

Analyses within the Economics of getting older summarizes an incredible volume of latest study on numerous renowned and less-examined themes bearing on the connection among economics and getting older. one of the issues explored during this quantity, massive cognizance is given to new examine on retirement discount rates, the price and potency of scientific assets, and the predictors of wellbeing and fitness events.The quantity starts with a dialogue of the hazards and advantages of 401(k) plans. next chapters current contemporary research of the expansion of Medicare expenditures; the several points of incapacity; and the evolution of health and wellbeing, wealth, and dwelling preparations over the existence direction. retaining with the worldwide culture of past volumes, Analyses within the Economics of getting older additionally comprises comparative stories on rate reductions habit in Italy, the Netherlands, and the U.S.; an exam of family mark downs between assorted age teams in Germany; and a bankruptcy dedicated to inhabitants getting older and the plight of widows in India. rigorously compiled and containing essentially the most state-of-the-art examine and research to be had, this quantity will be of curiosity to any expert or policymaker focused on ongoing adjustments in rate reductions and retirement behaviors.

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Data on asset allocation in retirement accounts are broadly consistent with the expected utility results that emerge from our simulations. 1 million households 48 James M. Poterba, Joshua Rauh, Steven F. Venti, and David A. 4 million) hold only bonds. The overall allocation between stocks and bonds in tax-deferred accounts is similar to that in DB plans, which are managed by professional investment managers. One important difference is that there is a higher concentration of company stock in DC plan accounts.

For bonds with a maturity of between five and six years, real interest rates are less than 2 percent. 8 percent. 8 percent each year, net of inflation. Index bonds deliver a net-of-inflation certain return only if the investor holds the bonds to maturity. Investors who sell their bonds before maturity, however, are exposed to asset price risk. 6 Distribution of household balance sheet items ($ thousands): HRS married households with final earnings and husbands aged 63–67 in 2000 All education levels Less than high school degree High school and/or some college College and/or postgraduate 20th percentile Social Security DB pension Other annuity Retirement accounts IRA 401(k) and other DC Other financial wealth Housing equity Other wealth SS ϩ DB ϩ other annuity ϩ other financial Total (excl.

One of our goals is to compare two alternative approaches to evaluating the riskiness of portfolio strategies for retirement wealth accumulation. First, we presented pictures of the distribution of wealth outcomes for different investment allocation rules. This approach is closely related to the techniques used by many financial planners, who show clients the set of outcomes that they might achieve under a given set of assumptions about future returns and investment strategy. It is also the approach that we, and others, have used in past studies that considered the returns to different investment strategies.

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