Tag: retirement consumption
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 …
Abstract This paper examines conflicting assessments of whether people will have adequate retirement income to maintain their pre-retirement standard of living. The studies that it examines use data from the Survey of Consumer Finances (SCF), the Health and Retirement Study (HRS), and the HRS supplement Consumption and Activities Mail Survey (CAMS). Critical components of t…