Angela M. O’Rand
2010 SSS Presidential Address: The Devolution of Risk and the Changing Life Course in the United States
Duke University
recent patterns labor exit late life united states increasingly heterogeneous heterogeneity stems diverse employment careers emerging workplace job security declining individuals structural locations labor market expose diverse risks employment income security older ages among risks access institutional mechanisms retirement saving requirement assume full responsibility decisions retirement savings involve market risks spread individualized pressures invest retirement elevated importance financial literacy 21st century late employment careers patterns financial literacy studied article using premier us longitudinal dataset national institute aging health retirement study initiated 1992 linked restricted social security earnings records extend several decades merged data afford opportunity observe continuous work histories sample 1981 2006 identify latent trajectories employment late life addition supplementary module attached 2004 wave hrs provides valuable information financial literacy subgroups workretirement trajectories financial literacy patterns observed reflect persistent patterns inequality amplified modern risks labor market