
Redefining Retirement
How Will Boomers Fare?
Oxford University Press
Published on 12. July 2007
Book
Hardback
346 pages
978-0-19-923077-8 (ISBN)
Description
As the leading edge of the 'Baby Boom' generation attains age 60, members of this unusually large cohort born 1946-66 are poised to redefine retirement - just as they have restructured educational, housing, and labor markets in prior days. Looking ahead, their numbers and energy are sure to have a major impact on national pensions, healthcare, and social safety nets. Contributors to this volume note that 'Boomers' will be better off than their predecessors in many ways, having benefited from the long run-up in housing prices, dramatic improvements in healthcare, and the expanding economy. On the other hand, the generation's sheer size will surely squeeze resources and require new approaches to retirement risk management.
This volume paints a complex and fascinating picture as Boomers move into retirement. On average they are in better financial and physical health than prior cohorts, and they can be anticipated to fare better than current retirees in absolute terms. Yet the distribution of retiree income and wealth will be less equal than in earlier years, and in relative terms, many Boomers will be less well off than their forebears. Contributors to the volume use many invaluable models and datasets, including the incomparable Health and Retirement Study (HRS) which affords unique insights into the status of mature adults surveyed at the same age and hence same point in their life cycles, but at three different time periods. Analysts offer new evidence about prospects for health and income during retirement, as well as pensions and housing equity, health, portfolio allocation, and financial literacy.
This book offers readers an invaluable and first book-length study of Boomers as they march into retirement. As such, it represents an invaluable addition to the Pension Research Council/Oxford University Press series. It will be especially useful for scholars and policymakers seeking to understand retirement preparedness, to actuaries and tax specialists concerned with retirement system regulation, and to plan sponsors interested in the determinants of work and retirement at older ages.
This volume paints a complex and fascinating picture as Boomers move into retirement. On average they are in better financial and physical health than prior cohorts, and they can be anticipated to fare better than current retirees in absolute terms. Yet the distribution of retiree income and wealth will be less equal than in earlier years, and in relative terms, many Boomers will be less well off than their forebears. Contributors to the volume use many invaluable models and datasets, including the incomparable Health and Retirement Study (HRS) which affords unique insights into the status of mature adults surveyed at the same age and hence same point in their life cycles, but at three different time periods. Analysts offer new evidence about prospects for health and income during retirement, as well as pensions and housing equity, health, portfolio allocation, and financial literacy.
This book offers readers an invaluable and first book-length study of Boomers as they march into retirement. As such, it represents an invaluable addition to the Pension Research Council/Oxford University Press series. It will be especially useful for scholars and policymakers seeking to understand retirement preparedness, to actuaries and tax specialists concerned with retirement system regulation, and to plan sponsors interested in the determinants of work and retirement at older ages.
More details
Series
Language
English
Place of publication
Oxford
United Kingdom
Target group
Professional and scholarly
Illustrations
Numerous figures and tables
Dimensions
Height: 240 mm
Width: 161 mm
Thickness: 23 mm
Weight
684 gr
ISBN-13
978-0-19-923077-8 (9780199230778)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Persons
Editor
Professor of Public Policy and Corporate Management in the Aetna Chair at the Kennedy School of Government at Harvard University
Executive Director of the Pension Research Council, Wharton School, University of Pennsylvania
Distinguished Senior Scholar, Department of Sociology, University of Pennsylvania
Content
PART I: PROSPECTS FOR BABY BOOMER RETIREMENT ; Will Boomers Redefine Retirement? ; Cross-Cohort Differences in Retirement Expectations and Realizations ; The Sufficiency of Retirement Savings: Comparing Cohorts at the Time of Retirement ; Understanding Baby Boomers' Retirement Prospects ; PART II: CHANGING HEALTH STATUS AND HEALTH INSURANCE ; Are Boomers Living Well Longer? ; Baby Boomers vs Their Parents: Economic Well-Being and Health Status ; Cross-Cohort Differences in Heath on the Verge of Retirement ; Health Insurance Patterns Nearing Retirement ; PART III: NEW ROLES FOR RETIREMENT ASSETS ; The Impact of Pensions on Non-pension Investment Choices ; Measuring Pension Wealth ; Trends in Pension Values around Retirement ; Pension Portfolio Choice and Menu Exposure ; Saving Between Cohorts: The Role of Planning ; Retiring on the House? Cross-Cohort Differences in Housing Wealth