Business, Management and Accounting
4 years ago

Baby Boomers' Retirement Security Linked to Planning and Financial Literacy

Journal of Monetary Economics
Baby Boomer retirement security: The roles of planning, financial literacy, and housing wealth
Annamaria Lusardi, Olivia S. Mitchell

Paper Summary

The study compared the wealth of two groups of people nearing retirement age in 1992 and 2004. Baby Boomers rely more on housing wealth than the previous group. Those who plan for retirement have higher wealth and financial knowledge than those who don't. Planning can explain why some people have little or no savings when they retire.

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