Brief The Changing Causes and Consequences of Not Working before Age 62
Barbara Butrica, Nadia Karamcheva
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This study considers nonworking older adults and their channels of support before qualifying for Social Security benefits. Results show that among adults ages 55 to 61, nonearners are more likely than earners to be poor, to be concerned about not having adequate resources for retirement, and to be dissatisfied with their retirement when they do retire. However, nonearners are a heterogeneous group. A large share is poor, with low incomes and limited wealth. But a sizeable share is income-poor and asset-rich. More than for singles, this phenomenon characterizes nonworking married adults, who are generally better off than their unmarried counterparts.
Research Areas Aging and retirement
Tags Social Security Economic well-being Older workers Retirement policy
Policy Centers Income and Benefits Policy Center