Health, education, and the postretirement evolution of household assets

We explore the relationship between education and the evolution of wealth after retirement. Asset growth following retirement depends in part on health capital and financial capital accumulated prior to retirement, which in turn are strongly related to educational attainment. These “initial conditio...

Full description

Saved in:
Bibliographic Details
Published in:Journal of human capital 2013-12, Vol.7 (4), p.297-339
Main Authors: Poterba, James M, Venti, Steven F, Wise, David A
Format: Article
Language:English
Subjects:
Age
Alter Mensch
Altersgrenze
Asset income
Bildungsniveau
Coefficients
Earned income
Educational attainment
Financial portfolios
Gesundheit
Retirement
Schätzung
Social evolution
Social Security benefits
USA
Vermögen (Wirtsch)
Wealth
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:We explore the relationship between education and the evolution of wealth after retirement. Asset growth following retirement depends in part on health capital and financial capital accumulated prior to retirement, which in turn are strongly related to educational attainment. These “initial conditions” at retirement can have a lingering effect on subsequent asset evolution. We aim to disentangle the effects of education that operate through health and financial pathwayspriorto retirement from the effects of education that impinge directly on asset evolutionafterretirement. We find a substantial effect of education on asset growth through each of the pathways.
ISSN:1932-8575
1932-8664
1932-8664
DOI:10.1086/673207