Archive: Uncategorized

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 –…

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 Gal Wettstein, have just published a really interesting paper on the “annuity puzzle.”  That is, while economic models predict that many people would be better off with annuities, only a small portion of retirees actually…