HKS Affiliated Authors

Professor of the Practice of Public Policy, HKS; Professor of the Practice of Economics, FAS

Excerpt

The Risk of Financial Hardship in Retirement: A Cohort Analysis. Karen Dynan, July 2019, Paper, "This paper explores the likely prevalence of hardship in old age for individuals now nearing retirement. We use two decades of longitudinal data from the Health and Retirement Study to determine what observable demographic, socioeconomic, and financial factors in late middle age predicted economic hardship in old age for the cohort that was nearing retirement age in the mid1990s. It then uses these findings to predict economic hardship in old age for the cohort nearing retirement age in the mid-2010s. Our analysis suggests that the more recent cohort is likely to realize higher economic insecurity, particularly among men." Link