The brief’s key findings are: The COVID recession brought the economy to a halt, but households got robust government support and asset markets soared during 2020-2021. Overall, balance sheets showed some improvements during this period: high-wealth households saw rapid asset growth from the booming markets; and those in the middle got market gains and a boost from…
Many households do not have enough saved to maintain their standard of living in retirement. This resource gap means that retirees will often have to cut back on consumption and, in some cases, rely on adult children to …
Since the launch of ChatGPT in November 2022, AI’s potential impact on labor markets has been a growing worry. This concern has centered on the replacement of workers, with a special focus on younger…
When Trump accounts were introduced this July, I wondered: Should I take advantage of it? This somewhat convoluted vehicle is...
Social Security is really important for older Americans. Every now and then, I am asked how dependent people are on...
FEATURED
CLOSING THE COVERAGE GAP
By Andrew G. Biggs, Alicia H. Munnell and Anqi Chen
The brief’s key findings are: 401(k)s/IRAs have the potential to provide significant wealth. But a typical 60-year-old with a 401(k) in 2016 had less than $100,000 compared to a potential $360,000 in combined 401(k)/IRA assets. Four factors could explain this gap: the immaturity of the 401(k) system, the lack of universal coverage, leakages, and fees…
Associate Director of State & Local Research
Associate Director of Retirement Plans and Finance Jean-Pierre Aubry is associate director of retirement plans and finance at the Center for Retirement Research at Boston College. He oversees and conducts research and data collection, develops new analytic techniques for evaluating retirement plans, and secures funding support. Aubry is recognized as a leading expert on stat…
By Kim Blanton
With so many Americans in the dark about how to prepare for retirement, educating them about why it’s critical to save seems an obvious way to tackle this problem. But very few solid studies prove that financial education actually works. This field research should be counted as a positive result for a modest, low-cost financia…
The next Retirement and Disability Research Consortium Meeting will be held virtually on August 3-4, 2023. This free and public event showcases the latest in retirement and disability research from the nation’s top scholars.
CRR IN THE NEWS
MARKETPLACE
In this economy, it’s pretty common for parents (when they can) to give their children – even adult children – financial help. A recent study, however, looked at money flowing the other way – from children to parents.
CNBC
Artificial intelligence has prompted concerns that workers – particularly young professionals – could be replaced by advancing technology. Yet signs are emerging that older workers are also affected.