Key Findings Details
Savings Between Cohorts: the Role of Planning
Annamaria Lusardi and Jason Beeler
- Comparing Early Baby Boomers (EBB), age 51-56 in 2004, with the HRS cohort, age 51-56 in 1992, EBB have accumulated more wealth, but this largely because of housing inflation. Those with low education, low income, and non-white in the EBB have actually accumulated much less than the previous cohort.
- The EBB are not more likely to plan for retirement despite increases in education efforts in the 1990s.
- Effects of planning are the same for both cohorts:. Those who do not plan accumulate much less wealth.