Annamaria Lusardi|Olivia S. Mitchell
Baby Boomer retirement security: The roles of planning, financial literacy, and housing wealth
Dartmouth College|University of Pennsylvania
compare wealth holdings across two cohorts health retirement study early baby boomers 2004 individuals age group 1992 levels patterns total net worth changed relatively little time though boomers rely housing equity predecessors important planners cohorts arrive close retirement much higher wealth levels display higher financial literacy nonplanners instrumental variables estimates show planning behavior explain differences savings people arrive close retirement little wealth