Tag: retirement income
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The American Academy of Actuaries – a group of usually sober and sensible people – recently issued a brief making the case for “Raising the Social Security Retirement Age.” Their argument is straightforward. Social Security is running a 75-year deficit equal to 3.5 percent of taxable payrolls. The only way to fix the problem…
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Abstract Whether parents adjust their consumption after their children leave home has important implications for our understanding of retirement income adequacy. Prior studies have found that parents reduce consumption after their children become independent, allowing them to save more for retirement. Other studies, however, have found that savings for retirement does not increase. If households…