Brief Are Baby Boomers Saving Enough for Their Retirement?
Rudolph G. Penner
Display Date
File
File
Download Report
(310.42 KB)

This paper estimates the ratio of post- to pre-retirement consumption to explore how well boomers are prepared for retirement. I show that some of the poorest households are best prepared because they can maintain consumption by relying almost solely on Social Security while many of the most affluent households are poorly prepared because they will experience a decline in consumption upon retiring. Nonetheless, affluent households will be able to maintain a consumption level many times that of poor households. The paper discusses whether equalization of pre- and post-retirement consumption provides a useful adequacy yardstick at all income levels.
Research Areas Aging and retirement
Tags Economic well-being Pensions Retirement policy
Policy Centers Income and Benefits Policy Center