Tag: retirement saving
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…
The brief’s key findings are: In theory, workers would increase their supplemental saving in response to lower pension income, but do they in practice? The answer matters for state and local workers, as pension income varies, some plans are poorly funded, and not all workers have Social Security. The results show that workers with less…
