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You can't take it with you: asset run-down at the end of the life cycle

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  • Katharine Anderson
  • Eric French
  • Tina Lam

Abstract

This article presents evidence on the extent to which households run down their assets after retirement. The authors show that, once corrections are made for several econometric problems, households engage in very little asset decumulation after retirement.

Suggested Citation

  • Katharine Anderson & Eric French & Tina Lam, 2004. "You can't take it with you: asset run-down at the end of the life cycle," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 28(Q III), pages 40-54.
    • Handle: RePEc:fip:fedhep:y:2004:i:qiii:p:40-54:n:v.28no.3
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    References listed on IDEAS

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    Cited by:

    1. Joseph Briggs & Christopher Tonetti, 2019. "Risky Insurance: Insurance Portfolio Choice with Incomplete Markets," 2019 Meeting Papers 1388, Society for Economic Dynamics.
    2. Love, David A. & Palumbo, Michael G. & Smith, Paul A., 2009. "The trajectory of wealth in retirement," Journal of Public Economics, Elsevier, vol. 93(1-2), pages 191-208, February.
    3. Calvo, Esteban & Haverstick, Kelly & Zhivan, Natalia, 2009. "Older Americans on the Go: Financial and Psychological Effects of Moving," MPRA Paper 48965, University Library of Munich, Germany.
    4. Karen Smith & Mauricio Soto & Rudolph G. Penner, 2009. "How Seniors Change Their Asset Holdings During Retirement," Working Papers, Center for Retirement Research at Boston College wp2009-31, Center for Retirement Research, revised Dec 2009.
    5. Clark, Robert L. & Mitchell, Olivia S., 2014. "How does retiree health insurance influence public sector employee saving?," Journal of Health Economics, Elsevier, vol. 38(C), pages 109-118.
    6. Eun Kim & Sherman Hanna & Swarn Chatterjee & Suzanne Lindamood, 2012. "Who Among the Elderly Owns Stocks? The Role of Cognitive Ability and Bequest Motive," Journal of Family and Economic Issues, Springer, vol. 33(3), pages 338-352, September.
    7. Esteban Calvo & Kelly Haverstick & Natalia A. Zhivan, 2009. "Determinants and Consequences of Moving Decisions for Older Homeowners," Working Papers, Center for Retirement Research at Boston College wp2009-16, Center for Retirement Research, revised Aug 2009.
    8. Kelly Haverstick & Natalia A. Zhivan, 2009. "Older Americans On The Go: How Often, Where, and Why?," Issues in Brief ib2009-9-18, Center for Retirement Research, revised Sep 2009.
    9. Olesya Baker & Phil Doctor & Eric French, 2007. "Asset rundown after retirement: the importance of rate of return shocks," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 31(Q II), pages 48-65.

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    Keywords

    Retirement; Income; Wealth;
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