Is there really a retirement savings crisis?

Munnell, Alicia Haydock, Anthony Webb, and Francesca Golub-Sass. “Is there really a retirement savings crisis?”. Issue in Brief 7-11, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, July 2007. http://hdl.handle.net/2345/bc-ir:104338.
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Abstract

The National Retirement Risk Index (NRRI) has shown that even if households work to age 65 and annuitize all their financial assets, including the receipts from reverse mortgages on their homes, nearly 45 percent will be 'at risk' of being unable to maintain their standard of living in retirement.  That is, these households are projected to have replacement rates - retirement income as a share of pre-retirement income - that fall more than 10 percent short of a target rate designed to maintain their pre-retirement living standard.  More realistic assumptions regarding earlier retirement and reluctance to annuitize 401(k) balances or tap housing equity would put the percentage 'at risk' considerably higher, as would the inclusion of rapidly growing health care costs.  Yet, recent academic articles and press stories question whether Americans are facing a retirement income crisis...

Title
Is there really a retirement savings crisis?: An NRRI analysis
Author
Munnell, Alicia Haydock
Webb, Anthony
Golub-Sass, Francesca
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
July 2007
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
7-11
Version Identification
Version of record.
Persistent Link
http://hdl.handle.net/2345/bc-ir:104338
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Financing Retirement

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