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How much should Americans be saving for retirement?

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Author Info

  • B. Douglas Bernheim
  • Lorenzo Forni
  • Jagadeesh Gokhale
  • Laurence J. Kotlikoff

Abstract

How much should Americans save prior to retirement? Given Social Security's shaky financial condition, this is a critical question for baby boomers. A financial planning program-ESPlanner-is applied to data from the Health and Retirement Survey (HRS) to consider the amount that households approaching retirement should save.

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Bibliographic Info

Paper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 0002.

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Date of creation: 2000
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Handle: RePEc:fip:fedcwp:0002

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Keywords: Retirement ; Saving and investment ; Social security;

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  1. B. Douglas Bernheim & Lorenzo Forni & Jagadeesh Gokhale & Laurence J. Kotlikoff, 1999. "The Adequacy of Life Insurance: Evidence from the Health and Retirement Survey," NBER Working Papers 7372, National Bureau of Economic Research, Inc.
  2. Alan J. Auerbach & Laurence J. Kotlikoff, 1985. "Life Insurance of the Elderly: Adequacy and Determinants," NBER Working Papers 1737, National Bureau of Economic Research, Inc.
  3. Olivia S. Mitchell & James F. Moore, . "Retirement Wealth Accumulation and Decumulation: New Developments and Outstanding Opportunities," Pension Research Council Working Papers 97-8, Wharton School Pension Research Council, University of Pennsylvania.
  4. Nathan S. Balke & Robert J. Gordon, 1986. "The Estimation of Prewar GNP Volatility, 1869-1938," NBER Working Papers 1999, National Bureau of Economic Research, Inc.
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Cited by:
  1. Jagadeesh Gokhale & Laurence J. Kotlikoff & Mark J. Warshawsky, 2001. "Life-Cycle Saving, Limits on Contributions to DC Pension Plans, and Lifetime Tax Benefits," NBER Working Papers 8170, National Bureau of Economic Research, Inc.
  2. Binswanger, J. & Schunk, D., 2008. "What is an Adequate Standard of Living During Retirement?," Discussion Paper 2008-82, Tilburg University, Center for Economic Research.
  3. Deb, Partha & Gallo, William T. & Ayyagari, Padmaja & Fletcher, Jason M. & Sindelar, Jody L., 2011. "The effect of job loss on overweight and drinking," Journal of Health Economics, Elsevier, vol. 30(2), pages 317-327, March.
  4. Grant Scobie & John Gibson & Trinh Le, 2004. "Saving for Retirement: New Evidence for New Zealand," Treasury Working Paper Series 04/12, New Zealand Treasury.
  5. Jonathan Skinner, 2007. "Are You Sure You're Saving Enough for Retirement?," Journal of Economic Perspectives, American Economic Association, vol. 21(3), pages 59-80, Summer.
  6. Gennadi Kazakevitch & Luc Borrowman, 2009. "Housing affordability: Proper Measurement for Informed Policy Making," Development Research Unit Working Paper Series 08-09, Monash University, Department of Economics.
  7. Andrew Caplin & John Leahy, 2010. "Economic Theory and the World of Practice: A Celebration of the ( S, s ) Model," Journal of Economic Perspectives, American Economic Association, vol. 24(1), pages 183-202, Winter.
  8. Sinai, Todd & Souleles, Nicholas S., 2007. "Net worth and housing equity in retirement," CFS Working Paper Series 2007/34, Center for Financial Studies (CFS).
  9. Aparna Gupta & Zhisheng Li, 2013. "Optimal Annuity Purchase Decisions Under Uncertain Lifetime," Journal of Family and Economic Issues, Springer, vol. 34(4), pages 447-459, December.

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