Abstract:We construct two measures of the current wealth adequacy of older U.S. households using the 1998-2006 waves of the Health and Retirement Study (HRS). The first is the ratio of "comprehensive wealth"-defined as net worth plus the expected value of future income streams-to the wealth that would be needed to generate expected poverty-line income in future years. By this measure, we find that the median older U.S. household is reasonably well situated, with a "poverty ratio" of about 3.9 in 2006. However, we find … Show more
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