Yuh, Y., Montalto, C. P. & Hanna, S.
(1998). Are Americans prepared for retirement?. Financial
Counseling
and Planning, 9 (1), 1-12.
Are Americans Prepared For Retirement?
Yoonkyung Yuh,(1)Catherine
Phillips Montalto,(2)
and Sherman Hanna(3)
This study estimates the adequacy of retirement wealth of
pre-retirement
households using a 1995 national sample of households. Retirement
wealth
is projected using planned retirement age and portfolio allocation.
Retirement
needs are estimated from expenditure functions, and 52% of the
households
were adequately prepared. Households that spent less than income were
much
more likely to be adequately prepared for retirement than similar
households
that spent at least as much as income. Planned retirement age had a
large
effect on adequacy, but household income had a moderate independent
effect
on adequacy.
Key Words: Life cycle model, Retirement needs, Retirement planning,
Retirement wealth adequacy, Survey of Consumer Finances
Additional resources:
Entire article
in Acrobat format (Does not precisely match all page breaks)
To read and/or print this article in Acrobat format, you may need
to download a free Adobe Acrobat Reader. Click
here if you want to download the software.
1. Yoonkyung Yuh received her Ph.D. from The
Ohio
State University in September, 1998. E-mail: yoonkyung17@hanmail.net.
2. Catherine Phillips Montalto, Assistant
Professor,
Consumer Sciences Department, The Ohio State University,
1787
Neil Ave., Columbus, OH 43210-1295. Phone: (614) 292-4571. Fax: (614)
688-8133
.
E-mail: montalto.2@osu.edu.
3. Sherman Hanna, Professor, Consumer and
Textile
Sciences Department, The Ohio State University, 1787 Neil Ave.,
Columbus,
OH 43210-1295. Phone: (614) 292-4584. Fax: (614) 688-8133.
E-mail: hanna.1@osu.edu