The Life Cycle Model Is Ready for Prime Time

Download

• Paper Website

Abstract

Traditional economic models for retirement planning suggest people should spend all their savings, ending up with little to nothing by the end of their lives. This paper argues that new economic models offer more realistic guidance for retirement savings by considering the value people place on having wealth, not just on consumption.

Citation

Carroll, Christopher, Alan Lujan, and Matthew N. White. 2023. “The Life Cycle Model Is Ready for Prime Time.” REMARK. https://econ-ark.github.io/Life-Cycle-Prime-Time/.