Fact of the Week: 13 February 2012
fact of the week
Retirement Savings Declined Modestly for Pre-retirees During Recession
"The retirement wealth held by those ages 53 to 58 before the onset of the recession in 2006 declined by a relatively modest 2.8 percentage points by 2010. In more normal times, their wealth would have increased over these four years," according to a 2011 analysis of asset and labor market data from the Health and Retirement Study.
Gustman, A. L., Steinmeier, T. L., & Tabatabai, N. (2011). How did the recession of 2007-2009 affect the wealth and retirement of the near retirement age population in the health and retirement study? (NBER Working Paper No. 17547). Washington, DC: National Bureau of Economic Research. Retrieved from papers.nber.org.
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