Debt and Financial Vulnerability on the Verge of Retirement

By Anna Lusardi, Olivia S. Mitchell, Noemi Oggero. Journal of Money, Credit and Banking, 2019

150 citations recorded by the source corpus.

We analyze older individuals’ debt and financial vulnerability using data from the Health and Retirement Study (HRS) and the National Financial Capability Study (NFCS). Specifically, in the HRS we examine three different cohorts (individuals age 56–61) in 1992, 2004, and 2010 to evaluate cross-cohort changes in debt over time. We also use two waves of the NFCS (2012 and 2015) to gain additional insights into debt management and older individuals’ capacity to shield themselves against shocks. We show that recent cohorts have taken on more debt and face more financial insecurity, mostly due to having purchased more expensive homes with smaller down payments.

Subfields: Accounting, Demography, General Health Professions

View Paper: https://www.semanticscholar.org/paper/7ff7c984517543b6b7e36126f389891c38e3e209

How researchers see this paper

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In Accounting

1. Noemi Oggero
2. Elisa Ughetto
3. Mariacristina Rossi

In Demography

1. Noemi Oggero
2. Elisa Ughetto
3. Mariacristina Rossi

Citations in the corpus

• Entrepreneurial spirits in women and men. The role of financial literacy and digital skills (2019, background): “Previous literature has documented a strong association between financial literacy and households’ financial decisionmaking, such as wealth accumulation, retirement planning (Lusardi et al. 2017, 2018), investment (Stango and Zinman 2009), and stock market participation (Van Rooij et al. 2011).”