Download or read book Understanding Expenditure Patterns in Retirement written by Barbara A. Butrica and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the consumption needs of retirees is critical to assessing the adequacy of retirement income and the possible impact of Social Security reform on the well-being of older Americans. This study uses data from the Health and Retirement Study, including a recent supplemental expenditure survey, to analyze spending patterns and consumption needs for adults ages 65 and older. Results indicate that typical older married adults spend 84 percent of after-tax household income, and nonmarried adults spend 92 percent of after-tax income. Even at older ages individuals devote a larger share of their expenditures and income to housing than any other category of goods and services, including health care. Fully 8 percent of married adults report after-tax incomes that fall short of our estimated basic-needs threshold, consisting of housing, health care, food, and clothing. By comparison, only 3 percent of married adults have incomes below the official poverty level.

Download or read book The Economic Status of Older Americans written by Rose M. Rubin and published by . This book was released on 1991 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Expenditure Patterns in Retirement written by and published by . This book was released on 2016 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper looks at how retired people spend their money, to help understand the income needs of retirees. Using data from the Household Income, and Labour Dynamics in Australia (HILDA) data, it investigates expenditure patterns amongst existing retired households, including standard of living, saving money, whether spending declines over the course of retirement, comparisons for couple- and single-person households, comparisons between self-funded retirees and pensioners, financial wellbeing, and comparisons with previous generations. The findings reveal that the expenditure of most retirees is modest, regardless of the level of income they have access to.

Download or read book The Prosperous Retirement written by Michael K. Stein and published by EMSTCO Press. This book was released on 1998 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Something wonderful has changed in the lives of millions of Americans, but most of them are net yet aware of it. For the first time, many Americans have the chance to live a new kind of retirement -- THE PROSPEROUS RETIREMENT -- if they will just seize the opportunity.

Download or read book Retirement Decisions and Food Expenditure Patterns for Older Households in United States written by Jen-Hsiang Lin and published by . This book was released on 1987 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Age Retirement and Expenditure Patterns electronic Resource an Econometric Study of Older Canadian Households written by Frank T. Denton and published by Hamilton, Ont. : Research Institute for Quantitative Studies in Economics and Population, McMaster University. This book was released on 2002 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Bogleheads Guide to Retirement Planning written by Taylor Larimore and published by John Wiley & Sons. This book was released on 2011-02-22 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Bogleheads are back-with retirement planning advice for those who need it! Whatever your current financial situation, you must continue to strive for a viable retirement plan by finding the most effective ways to save, the best accounts to save in, and the right amount to save, as well as understanding how to insure against setbacks and handle the uncertainties of a shaky economy. Fortunately, the Bogleheads, a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, are here to help. Filled with valuable advice on a wide range of retirement planning issues, including some pearls of wisdom from Bogle himself, The Bogleheads' Guide to Retirement Planning has everything you need to succeed at this endeavor. Explains the different types of savings accounts and retirement plans Offers insights on managing and funding your retirement accounts Details efficient withdrawal strategies that could help you maintain a comfortable retirement lifestyle Addresses essential estate planning and gifting issues With The Bogleheads' Guide to Retirement Planning, you'll discover exactly what it takes to secure your financial future, today.

Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.

Download or read book Spending patterns by age written by and published by . This book was released on 2000 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Improving the Measurement of Consumer Expenditures written by Christopher D. Carroll and published by University of Chicago Press. This book was released on 2015-06-16 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robust and reliable measures of consumer expenditures are essential for analyzing aggregate economic activity and for measuring differences in household circumstances. Many countries, including the United States, are embarking on ambitious projects to redesign surveys of consumer expenditures, with the goal of better capturing economic heterogeneity. This is an appropriate time to examine the way consumer expenditures are currently measured, and the challenges and opportunities that alternative approaches might present. Improving the Measurement of Consumer Expenditures begins with a comprehensive review of current methodologies for collecting consumer expenditure data. Subsequent chapters highlight the range of different objectives that expenditure surveys may satisfy, compare the data available from consumer expenditure surveys with that available from other sources, and describe how the United States’s current survey practices compare with those in other nations.

Download or read book Recalibrating Retirement Spending and Saving written by John Ameriks and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Baby Boomers make the transition into their 60s, they have focused policymakers and the media's attention onto how this generation will manage the retirement phase of its lifetime. This volume acknowledges that many, though not all, in this older cohort have accumulated substantial assets, so for them, the question is what will they do with what they have? We offer a detailed exploration of how people entering retirement will deploy their accumulated assets in the near and long term, so to best meet their myriad spending, investment, and other objectives. The book offers readers an invaluable study of emerging issues regarding assets and expectations on the verge of retirement, including uncertainty regarding life expectancy and morbidity. It is composed of chapters from a distinguished set of authors including a Nobel Laureate and a wonderful mix of academics and practitioners from the legal, financial, and economic fields. This volume represents an invaluable addition to the Pension Research Council / Oxford University Press series. It will be especially useful for analysts and consumers concerned with ways to position, invest, manage, and spend retirement assets; financial advisers and academics debating ways to effectively manage assets in retirement; and lawyers and policy experts evaluating regulation for the retirement payout marketplace.

Download or read book Growing Older in America written by and published by . This book was released on 2007 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Measuring What We Spend written by National Research Council and published by National Academies Press. This book was released on 2013-02-15 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Consumer Expenditure (CE) surveys are the only source of information on the complete range of consumers' expenditures and incomes in the United States, as well as the characteristics of those consumers. The CE consists of two separate surveys: (1) a national sample of households interviewed five times at three-month intervals; and (2) a separate national sample of households that complete two consecutive one-week expenditure diaries. For more than 40 years, these surveys, the responsibility of the Bureau of Labor Statistics (BLS), have been the principal source of knowledge about changing patterns of consumer spending in the U.S. population. In February 2009, BLS initiated the Gemini Project, the aim of which is to redesign the CE surveys to improve data quality through a verifiable reduction in measurement error with a particular focus on underreporting. The Gemini Project initiated a series of information-gathering meetings, conference sessions, forums, and workshops to identify appropriate strategies for improving CE data quality. As part of this effort, BLS requested the National Research Council's Committee on National Statistics (CNSTAT) to convene an expert panel to build on the Gemini Project by conducting further investigations and proposing redesign options for the CE surveys. The charge to the Panel on Redesigning the BLS Consumer Expenditure Surveys includes reviewing the output of a Gemini-convened data user needs forum and methods workshop and convening its own household survey producers workshop to obtain further input. In addition, the panel was tasked to commission options from contractors for consideration in recommending possible redesigns. The panel was further asked by BLS to create potential redesigns that would put a greater emphasis on proactive data collection to improve the measurement of consumer expenditures. Measuring What We Spend summarizes the deliberations and activities of the panel, discusses the conclusions about the uses of the CE surveys and why a redesign is needed, as well as recommendations for the future.

Download or read book Handbook of US Consumer Economics written by Andrew Haughwout and published by Academic Press. This book was released on 2019-08-12 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of U.S. Consumer Economics presents a deep understanding on key, current topics and a primer on the landscape of contemporary research on the U.S. consumer. This volume reveals new insights into household decision-making on consumption and saving, borrowing and investing, portfolio allocation, demand of professional advice, and retirement choices. Nearly 70% of U.S. gross domestic product is devoted to consumption, making an understanding of the consumer a first order issue in macroeconomics. After all, understanding how households played an important role in the boom and bust cycle that led to the financial crisis and recent great recession is a key metric. Introduces household finance by examining consumption and borrowing choices Tackles macro-problems by observing new, original micro-data Looks into the future of consumer spending by using data, not questionnaires

Download or read book Can I Retire Yet written by Darrow Kirkpatrick and published by StructureByDesign. This book was released on 2016-05-20 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: You've worked hard, lived carefully, and saved diligently. You've reached major milestones and accumulated more assets than you dreamed possible, and yet you hesitate. ""Can I retire?"" This book will help answer that question by showing you.... The tools you need to live a secure and independent retirement, without worrying about money What you must know before leaving a career behind How much it will cost you to live in retirement, and how to manage your cash flow The current choices for retirement health care, including lesser-known but effective options The threat from inflation: two secrets that politicians and bankers will never admit A realistic assessment of the impact that income taxes will have on your retirement Social Security's role in your retirement: when you should claim and how much it's worth to you How to construct and manage an investment portfolio for income and growth in retirement About immediate annuities and why you need multiple sources of retirement income The key variables and unknowns in your retirement withdrawal equation Reviews of the best retirement calculators, and tips for how to use them accurately Beyond the simplistic 4% Rule to the latest research on safe withdrawal rates Realistic bracketing of your retirement savings needs, without over caution or overconfidence The history of economic cycles and the related asset classes for optimal retirement security A survey of strategies plus original research for how to orchestrate your retirement distributions A practical "retirement fuel gauge" alerting you to problems while you still have time to act Backup plans: the "lifeboat strategies" for ensuring you'll never be without essential income The 6 crucial questions to answer before you can retire The one, simple, powerful, non-financial reason that you can and should retire earlier than later

Download or read book How Much Can I Spend in Retirement written by Wade Donald Pfau and published by Retirement Researcher Media. This book was released on 2017-09-23 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: How much can you spend in retirement? Naturally, this is an essential question for those approaching this important life transition. Essentially, if you wish to retire one day, you are increasingly responsible for figuring out how to save during your working years and convert your savings into sustainable income for an ever-lengthening number of retirement years. The nature of risk also changes in retirement, as the lifestyle of retirees become more vulnerable to the impacts of market volatility, unknown longevity, and spending shocks. Retirees have one opportunity to build a successful plan. It is not an easy task, but it is manageable. This book focuses on sustainable spending from investments, which is an important piece of any retirement plan. People want to know if they have saved enough to be able to fund their lifestyle in retirement. In this book, I explain the findings of a large body of financial planning research regarding sustainable spending from investment portfolios in the face of a variety of retirement risks. That body of research tends to begin with the 4 percent rule of thumb for retirement spending. I explain how and why it was developed, what it means, and when it may or may not be appropriate for retirees. William Bengen's 1994 study gave us the concept of the SAFEMAX, which is the highest sustainable spending rate from the worst-case scenario observed in the US historical data. The Trinity study added portfolio success rates from the historical data for different spending strategies. Both studies suggest that for a thirty-year retirement period, a 4 percent inflation-adjusted withdrawal rate using a 50-75 percent stock allocation should be reasonably safe. I have reservations about the 4 percent rule. It may be too aggressive for current retirees for reasons including increasing longevity, historically low interest rates coupled with higher than average stock market valuations, the impact of the international experience with the 4 percent rule casting a different light than 20th century US historical data, the need to maintain a rather aggressive asset allocation to have the best shot at success, and because the 4 percent rule assumes that investors do not pay any fees or otherwise underperform the underlying market indices. However, other factors suggest that sustainable spending may be even higher than traditional studies imply. Reasons for this include that actual retirees may tend to reduce their spending with age, that they build more diversified portfolios than used in the basic research studies, that real-world retirees may be willing to adjust spending for realized portfolio performance, and that some retirees may have the capacity and tolerance to accept higher portfolio failure probabilities because they have other sources of income from outside their portfolios. Related to these points, I also analyze nine variable spending strategies for retirees as well as the use of strategies that support short-term spending needs with individual bonds and longer-term spending needs with stocks. Retirees need to weigh the consequences between spending too little and spending too much-that is, being too frugal or running out of assets. This book is about implementing what I call the "probability-based" school of thought for retirement planning. It is especially relevant for people who plan to fund their retirements using an investment portfolio and those who are hesitant about using income annuities or other insurance products. I will explore annuities and insurance more extensively in later volumes since I do believe in the value of risk pooling as an additional source of returns to more efficiently meet retirement spending goals. But for now, we have plenty to discuss within the world of sustainable spending from an investment portfolio in retirement. The book concludes with a discussion about how to put these ideas together into a retirement spending plan.

Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.