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Spending Trajectories After Age 65: Variation by Initial Wealth

Year: 2022

Type: book

Abstract: Effective financial planning for retirement requires information about the spending needs of older households, how those needs evolve with age, and their variation by economic resources. This report finds that spending, adjusted for inflation, declines from age 65 through the retirement years. Spending declines not just among those with low wealth but even among households in the upper fourth of the wealth distribution.

Source: RAND Corporation eBooks

DOI: 10.7249/rra2355-1

Authors: Hurd, Michael D., Rohwedder, Susann

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: No poverty

Open Access status: bronze

Funders: U.S. Social Security Administration, National Institute on Aging

OpenAlex ID: W4313149974