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- Title
Household Income, Asset Allocation, and the Retirement Decision.
- Authors
Lahey, Karen Eilers; Doseong Kim; Newman, Melinda L.
- Abstract
We examine the financial condition of households as they move into retirement and the relative influence of wealth and income on the decision to retire. We find no significant difference between the net worth of retired and nonretired households, suggesting that retirees are no more adequately prepared for retirement than the nonretired subsample. With respect to portfolio allocation, retired households have significantly more financial assets, with a concentration in fixed-income securities, but home equity accounts for nearly half of their net worth. In addition, other household members' employment earnings generate approximately 40% of income for retired households.
- Publication
Financial Services Review, 2003, Vol 12, Issue 3, p219
- ISSN
1057-0810
- Publication type
Academic Journal