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Redefining RetirementHow Will Boomers Fare?$
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Brigitte Madrian, Olivia S. Mitchell, and Beth J. Soldo

Print publication date: 2007

Print ISBN-13: 9780199230778

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780199230778.001.0001

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Baby Boomers versus Their Parents: Economic Well‐Being and Health Status

Baby Boomers versus Their Parents: Economic Well‐Being and Health Status

(p.112) Chapter 6 Baby Boomers versus Their Parents: Economic Well‐Being and Health Status
Redefining Retirement

Joyce Manchester

David Weaver

Kevin Whitman

Oxford University Press

The Social Security Administration's simulation model known as MINT (Modeling Income in the Near Term) is used to examine the projected health and economic status of Baby Boomers and their parents during retirement. Projections indicate that boomers will enjoy higher levels of economic well-being and health than their parents, yet the distribution of income and wealth is more unequal among Boomers. For example, the ratio of income to poverty-level income grows three times faster at the 90th percentile than at the 10th percentile. Health problems are concentrated among persons of lower economic status in both generations, but the degree of concentration does not increase across generations.

Keywords:   Social Security, health status, economic wellbeing, Baby Boomer, cross-cohort comparisons, wealth, inequality

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