piggy bank on top of coins with a seedling growing out of the top

The Federal Reserve’s 2022 Survey of Consumer Finances (SCF) summarizes changes in family finances between 2019 and 2022 – three years of COVID, economic disruption, and unprecedented fiscal support – and 2022 was also a terrible year in terms of stock and bond returns. Despite the unusual circumstances, employment remained strong, the stock market –…

Engineer Showing Female Teenage Apprentice How To Use Lathe

Introduction The U.S. workforce is rapidly aging, spurring widespread concern over the implications of older workers for the economy at large, and for businesses in particular. Discrimination against older workers in hiring, and employer concerns about the high cost of older workers, suggest that employers view them as less valuable than their younger counterparts…

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Social Security’s design is known to help Black individuals and those with lower socioeconomic status due to the progressive benefit formula, but this effect is partially offset by the shorter life expectancies of these groups.  However, valuing Old-Age and Survivors Insurance (OASI) solely on expected benefits neglects the program’s longevity insurance value, which favors individuals…

This paper explores whether exposure to tight labor markets at working ages is linked to improved financial wellbeing at older ages especially for groups traditionally disadvantaged in the labor market, including people with low income, those without college degrees, and people of color.  We also examine what role the timing of exposure to tight labor…

Children’s participation in the federal Supplemental Security Income (SSI) program has declined substantially over the past decade.  Many children with disabilities might be eligible for SSI, yet barriers such as a lack of knowledge of the program or perceived challenges with applying may limit participation.  In this paper, we use machine learning models on Medicaid…

Happy senior people and their caregiver talking in dining room at nursing home.

Anyone who thinks that moving an elderly parent out of her home and into a facility will eliminate the need...

Coin stack with growing leaves and alarm clock on wooden desk on green tree background, time for saving concept

The gap between the desire for annuities and actual holdings likely due to logistical impediments. My colleagues, Karolos Arapakis and...

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Photo of a piggy bank and money

A “rapidly growing” number of households have debt in retirement, raising concerns about the financial well-being of older adults, according to researchers at the Center for Retirement Research at Boston College.

savings spread out on the table

Many of us do what we can to avoid paying a little extra here and there — such as making sure to spot a low price at the pump when filling up the car or searching an app for any extra discounts.