Will Living Standards Decline for Future Retirees?

Research Report

Will Living Standards Decline for Future Retirees?


This brief shows how changing patterns of lifetime earnings, retirement plan participation, and wealth accumulation will shape future economic well-being at older ages. Our projection results are mixed. As economic growth raises earnings and retirement benefits and women work more, boomers and Gen Xers will receive more income at age 70 than pre-boomers, born between 1936 and 1945. That income, however, will replace a smaller share of preretirement earnings for future retirees because of the increase in the Social Security retirement age and the loss of defined-benefit pensions. Potential Social Security cuts and rising health care costs create additional uncertainty.

Cross-Center Initiative

Cross-Center Initiative: 
To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.