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Key Findings Details

Savings Between Cohorts: the Role of Planning
Annamaria Lusardi and Jason Beeler
WP 2006-122

  • 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.