Health and Wealth in Early Retirement
Health and Wealth in Early Retirement
This chapter considers how the onset of a physical or mental problem in functioning affects economic well-being during retirement, looking specifically at how reductions in physical and mental functioning relate to annuitized net wealth. The results show that difficulties with both mental and physical functioning are associated with declines in wealth and that the impact is larger for single adults. This pattern is driven by individuals spending down resources to pay for health care and assistive services.
Keywords: health, wealth, retirement, economic well-being
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