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Individuals' uncertainty about future social security benefits and portfolio choice

Delavande, Adeline and Rohwedder, Susann (2011) 'Individuals' uncertainty about future social security benefits and portfolio choice.' Journal of Applied Econometrics, 26 (3). pp. 498-519. ISSN 0883-7252

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Little is known about the degree to which individuals are uncertain about their future Social Security benefits, how this varies within the US population, and whether this uncertainty influences financial decisions related to retirement planning. To illuminate these issues, we present empirical evidence from the Health and Retirement Study Internet Survey and document systematic variation in respondents' uncertainty about their future Social Security benefits by individual characteristics. We find that respondents with higher levels of uncertainty about future benefits hold a smaller share of their wealth in stocks. © 2011 John Wiley & Sons, Ltd.

Item Type: Article
Uncontrolled Keywords: Expectations; Health and Retirement Study; Portfolio Choice; Social Security; Subjective Probabilities; Uncertainty
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Social Sciences
Faculty of Social Sciences > Institute for Social and Economic Research
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 18 Jul 2013 10:17
Last Modified: 23 Sep 2022 18:50

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