Journal Article
Asset rundown after retirement: the importance of rate of return shocks
Abstract: The authors provide evidence that households run down their assets after retirement by tracking a group of elderly households over the 1996?2004 period. They find that assets decline for these households approaching the end of the life cycle. Had there not been a run-up in asset prices due in large part to a historically remarkable rise in housing prices, assets would have declined even faster.
Keywords: Retirement; Investments; Business cycles;
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Bibliographic Information
Provider: Federal Reserve Bank of Chicago
Part of Series: Economic Perspectives
Publication Date: 2007
Volume: 31
Issue: Q II