Saver Heterogeneity and the Challenge of Assessing Retirement Saving Adequacy
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Poterba_Saver heterogeneity.pdf
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254.34 KB
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Author(s)
Poterba, James Michael
Date Issued
June 2015
Journal
National Tax Journal
Publisher
National Tax Association
Citation
Poterba, James M. “Saver Heterogeneity and the Challenge of Assessing Retirement Saving Adequacy.” NTJ 68, no. 2 (March 2015): 377–388.
Version
Author's final manuscript
Abstract
Determining whether a particular household is saving enough for retirement, and estimating the fraction of a population cohort that is on track in retirement planning, are complicated by substantial heterogeneity in household spending needs during retirement years. Longevity, health status, capital market returns, and whether family networks will prove a source of support or a drain, all vary significantly across households. It is possible to calibrate each of these sources of uncertainty, but different modeling approaches can yield different answers. Differences in approach explain part of the disagreement about the fraction of U.S. households that are saving adequately for retirement.
MIT Department
Massachusetts Institute of Technology. Department of Economics
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Creative Commons Attribution-Noncommercial-Share Alike
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DOI of Published Version
https://doi.org/10.17310/ntj.2015.2.06
