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Key Findings Details

Comparing Retirement Wealth Trajectories on Both Sides of the Pond
Richard Blundell, Rowena Crawford, Eric French and Gemma Tetlow
WP 2015-333

  • We find that American retirees decumulated wealth over the 2002-2012 period much more rapidly than English households of the same age.
  • This difference is partly, but not entirely, due to more rapid house price appreciation in England over the sample period.
  • Our results suggest the illiquid nature of housing is likely to be an important factor in explaining wealth drawdown at older ages.