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Volume 15, Issue 3 - September 2015

MRRC Researchers in the Media

Olivia S. Mitchell and Daniel Gottlieb’s research on why people don’t buy LTC insurance has hit a media nerve. Erin E. Arvedlund quoted Mitchell in “With long-term care coverage so costly, what do the pros do,” a June 22 Philadelphia Enquirer story. “People hate buying insurance, thinking they could die the next day,” Mitchell said. “They feel they won’t get value for their money.” Gottlieb and Mitchell also contributed a piece “Why people don’t buy long-term-care insurance” to the Wall Street Journal and Marketwatch.

Andrew Biggs wrote a July 14 piece, “Are Kids Causing a Retirement Crisis,” for that cited Suzann Rohwedder’s 2006 MRRC paper, “Self-Assessed Retirement Outcomes: Determinants and Pathways.” Biggs’ article discusses the academic debate on how children affect retirement saving. “We know that parents retire with less wealth than non-parents, all else equal. If those parents truly are under-saving for retirement, they should be more likely than childless retirees to answer the HRS’ questions in a negative fashion. But research by RAND Corporation economist Suzanne Rohwedder shows that they don’t: there is no statistically significant difference in responses to the HRS questions between retired parents and similar retirees who don’t have kids. Retired parents are just as satisfied with their standards of living as households who didn’t have children.” |•|