Are households saving enough for a secure retirement?
Abstract: The recent rise in the personal saving rate has been interpreted as a sign that consumers are paying down their debt and repairing the damage done to their nest eggs. But a close analysis suggests that many people are falling short of saving what they will need to maintain their standard of living in retirement. A growing body of research in behavioral economics, a branch of economics that studies the choices people make at the individual level, offers explanations for why that is, as well as new approaches to the problem.
File format is application/pdf
Description: Full text
Henry, LaVaughn M
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2013
Order Number: 12