Determinants of Household Wealth at Age 50: Evidence from the NLSY79
*Names in bold indicate Presenter
In this paper, we focus on the question of how baby boomers accumulate resources for retirement. Using data from the 1979 National Longitudinal Survey of Youth, we are able to follow a sample of several thousand baby boomers born in 1958-64 from age 20 to 50. We model each sample member’s household net worth at age 50 as a function of detailed arrays of variables measuring educational investments, health, employment, family formation, household composition, and environmental factors over the preceding 30 years. This strategy allows us to identify factors ranging from divorce to job loss to “boomerang” children that affect resource availability as baby boomers approach retirement age.
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