MARC Record from Library of Congress

LEADER: 02190cam a22002777a 4500
001 2007615134
003 DLC
005 20070908085812.0
007 cr |||||||||||
008 070525s2007 mau sb 000 0 eng
010 $a 2007615134
040 $aDLC$cDLC
050 00 $aHB1
100 1 $aSkinner, Jonathan.
245 10 $aAre you sure you're saving enough for retirement?$h[electronic resource] /$cJonathan Skinner.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2007.
490 1 $aNBER working paper series ;$vworking paper 12981
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 5/25/2007.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"Many observers believe current aging baby boomers are woefully unprepared for retirement. Others raise the prospect that Americans are saving too much for retirement. This paper attempts to reconcile these contrasting views using a simple life cycle model and a more sophisticated retirement program, ESPlanner, with special reference to retirement prospects for economists. I find most households with post-graduate degrees fall short of the wealth needed to smooth spending through retirement. Of course, there are ways to economize during retirement: stepping up household production (cooking at home rather than eating out), selling one's house, or maintaining the modest individual consumption levels from when children still roamed the house. But ultimately, I argue these laudable strategies to reduce retirement expenses will be dwarfed by rapidly growing out-of-pocket medical expenses. The combination of eroding retiree health benefits and the risk of catastrophic future out-of-pocket health spending suggests that even conventional retirement planning recommendations could be too low"--National Bureau of Economic Research web site.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 12981.
856 40 $uhttp://papers.nber.org/papers/w12981