Tag: retirement savings
Abstract This study uses DYNASIM3, the Urban Institute’s dynamic microsimulation model, to examine the long-run effects of the Great Recession on the future retirement incomes of working-age individuals in 2008. It compares a baseline scenario that incorporates the historic and projected effects of high unemployment and lower wages from the recession with a no-recession scenario…
The brief’s key findings are: A 2009 CRR survey measured initial reactions to the financial crisis and then gave respondents customized advice on how to offset their losses. In response, some individuals adjusted their plans to make them more reasonable. More than 40 percent decided to save more and/or work longer. About 25 percent reduced…
