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Previous research have established the gap in wealth between men and women. A model that helps study the role of risk preferences to this gap is presented. It is found that more risk averse people accumulate less wealth at retirement.

IT'S LUNCHTIME AT A MCDONALD'S IN COLLEGE PARK, Maryland, and William Pratt is bent over a mop, moving it slowly across the floor between bustling customers. Later he wipes off […]

The article examines the negative impacts of retirement as baby boomers age. The authors advocate flexible work hours, flexible retirement options, and creating a corporate culture that appreciates experience.

CASE DESCRIPTION Time value of money is the primary subject matter of this case. Students are asked to apply time value of money techniques in a retirement planning scenario. Thus, [...]

Byline: Gerald A. Collins (1) Keywords: retirement trends; career stages; demographic shift; older workers Abstract: As the baby boomers begin to retire in great numbers later this decade, there will not be enough workers in younger age categories to replace them. In this review, an attempt is made to integrate the demographics of an aging workforce with the projected economic revitalization. Implications are discussed regarding the concept of retirement and the paradox of an oversized generation preparing to retire in the context of extended life expectancies and projected worker shortages. Author Affiliation: (1) Madonna University, College of Education, 36600 Schoolcraft Road, Livonia, Michigan, 48150-1173 Article History: Registration Date: 05/10/2004

A study examining the financial adequacies of life insurance holdings of a couple approaching retirement ages is presented and discussed.

Little is known about the income dynamics of retirement in Britain, in part because of a lack of data. The information is of some topical interest given the growing number of older people, the trend towards earlier retirement, the decline in the value of the basic state pension, the growing reliance on occupational and private pensions, and continuing relatively high poverty rates among people in old age. This paper considers the important question of income and retirement and, in particular, the association between transitions into retirement and the probability of becoming poor. It is based on longitudinal data from the British Household Panel Survey waves 1-9, covering 1991-1999. We also relate differences in poverty entry probabilities among the retired to differences in factors such as a retiree's health, housing tenure, age and sex, education, labour market status and history, household composition and spouse's characteristics. KEY WORDS--retirement, low income, employment, panel data, older people.

During the 1990s, the British population has been urged by government and financial institutions to make more personal preparation for retirement and to begin doing so while they are still relatively young. This paper, set within a wider analysis of people's long-term planning behaviour, investigates the extent to which a sample of the general population of Kirkcaldy in Scotland, mostly aged between 3o and 49, has given thought to the question of retirement, feels they have made financial preparation for it, and also how comfortable they expect retirement to be. While it seems likely that early planning for retirement is more common today than 20 years ago, there remain substantial sections of the population, including-but going well beyond- many in lower income groups, who appear not to be preparing, for varying combinations of reasons (including family responsibilities, personal history, cultural and general orientation to life). The study concludes that planning for retirement must be seen as part of planning as a whole, and that the propensity to plan is the outcome of a complex web of material, social, cultural and psychological factors. This suggests that even very high profile urging from politicians and financial institutions is unlikely to deliver adequate pensions for significant sections of the UK population. Keywords: retirement, planning, financial preparation.

An analysis is presented on the impact of farmer retirement on farm valuation and labor statistics between 1900 and 1910. It is posited that rapid increase in farm property values during this period fostered pronounced decline in employment for males 65 and older.

A study was conducted to analyze the economic effects of late-career job loss on employment and retirement patterns, earnings and assets. The estimated hazard coefficients was utilized to determine the impact of displacement on employment rates at different ages. Results indicated large and lasting effects of late-career job loss on assets, wages, actual employment and employment expectations.

Hospitals and PPMs no longer grab everything in sight. There are still some buyers around, but prices are coming down fast. Early in 1997, a New York City-based multispecialty group [...]

A dynamic programming framework based on the household decision-making concept can be used in evaluating Europe's pension systems. The late retirement in Finland and early retirement in France are proven to be correlated with lower savings. This is due to the non-linear response of savings to the changes in the retirement age. Welfare can be significantly decreased by the interaction of borrowing constraints and high replacement rations, such as those seen in Italy and Spain.

The baby boom generation - the roughly 76 million people born between 1946 and 1964 - has been reshaping American society for five decades. From jamming the nation's schools in [...]

Planning early for retirement gives physicians greater chances of leading an envisioned and comfortable life when they end their careers. One major consideration for planning is to expect that maintaining current living standards will probably cost more than expected. Retiring practitioners must also consider projected future lifestyles, debt, inflation and government taxes on retirement income., In this lead article in our special section on retirement, we help you figure out how big a nest egg you'll need and how to make your savings last as [...]

Using the census survival method to calculate net flows across employment states between 1900 and 1910, we find that approximately one-fifth of all men who reached the age of 55 eventually retired before death. Many of these retirees appear to have planned their withdrawal from paid employment by accumulating assets, becoming self-employed, and then liquidating their assets to provide a stream of income to finance consumption in old age. This 'modern' retirement behavior has important implications for the economic history of capital and labor markets, of saving and investment, of insurance and pensions, and of the family economy.

The retirement decisions of spouses may be interdependent for various reasons: similarity of tastes, joint assets, sharing rules for income and housework, or complementarity of leisure. Because of data limitations, only a few empirical studies exist on this topic. From a policy point of view, the understanding of interdependent retirement decisions should become important if legislators in different European countries are forced to synchronise minimum retirement ages for men and women which are lower now for females in a number of countries. We study the possibility of interdependent retirement using Austrian data. The findings show an asymmetry: husbands react to changes in wives' legal minimum retirement age, wives don't react vice versa. The cross-effect on men's participation rates - resulting from a rise in women's minimum retirement age - is almost half as large as the direct effect upon the women themselves. Keywords: Family labour supply; Retirement; Social security

This article introduces recent reports on the quality of the Health and Retirement Survey's data regarding the relationships between wealth, income distribution, retirement planning, health status, race, labor force participation, and family structure.

A research study is conducted to determine how a well-informed government with a social welfare maximization policy establishes its benefits and disability standards. The analysis addresses the economic aspects of optimal disability and retirement benefits via a simple static model that acknowledges the disability evaluation's imperfection. Results show an overlap in the country's disability eligibility and Social Security's retirement provisions. Welfare is found to be accessible by individuals whose disability benefits were disapproved.

This article discusses how the statistics gathered from the Health and Retirement Study can be used to analyze retirees' retirement planning and behavior. An analysis of labor market outcomes, health status, retirement benefits, and wealth is presented.

Retirement, social security and pensions are the areas in the economics of aging that have been subjected to intense research. Research on these areas has led to the formulation of a structural retirement model. The effects of social security revisions on retirement and on program costs as well as the effects of retiree health benefits on retirement behavior, among others, have also been the subject of economic research., Our research efforts over the past decade have focused on three central issues in the economics of aging: retirement, Social Security, and pensions. We have examined how retirement is defined [...]

This is a practice-based essay, drawing upon current research and practice in long term care planning and finance. The main thesis is that women of all ages, including those who are well educated, and those who are in business occupations, resist thinking about their own long term care needs. As a result, women are at great risk for financial exposure and impoverishment when they reach old age. The authors explore the reasons for women's attitudes and make recommendations for steps that should be taken to change women's perceptions and assist them in planning for their needs. The article focuses on the different reasons for this resistance at three different stages of the life cycle: under age 40, ages 40-55, and over age 55. Four case studies, drawn from the authors' practice, are cited. The demographic and economic realities are defined, based on published research. Given the disparity between women's perceptions and the demographic and economic projections, the authors conclude with a series of steps that should be taken by the major actors: government, employers, insurers and other private sector organizations, and women themselves.