Tag: low-income seniors
![banks overdraft fees](https://crr.bc.edu/wp-content/uploads/2022/10/banks-overdraft-fees.png)
Anyone who has lived paycheck to paycheck is familiar with the headache of overdraft charges. Due to a slight miscalculation at the end of a tough month, there isn’t enough money in the account to cover a check. The bank pays the check but charges an overdraft fee that drains money out of the account…
![Senior man calculating finances](https://crr.bc.edu/wp-content/uploads/2022/11/financing_retirement_1-1536x1024.jpg)
Abstract We use the 1998-2006 waves of the Health and Retirement Study (HRS) to investigate how households change their asset holdings at older ages. We find a notable increase in the net worth of older households between 1998 and 2006, with most of the growth due to housing. Our results indicate that, through 2006, older…