Tag: retirement finances
The brief’s key findings are: As life expectancy rises, more retirees will face late-life financial risks, including: high health costs, financial mistakes due to cognitive decline, and widowhood. To date, the research literature suggests that these risks severely affect only a minority of retirees, but the impact may become more widespread in the future. The reasons includ…
Abstract During the Great Recession, more older workers have claimed Social Security benefits early. This paper addresses two important policy questions: Who are these early claimers? How much retirement income have they lost as a result of claiming early? Using the Health and Retirement Study (HRS) we estimate a discrete-time hazard model that makes claiming…