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Remaking Retirement – Debt in an Aging Economy - Oxford Scholarship Online
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Remaking Retirement: Debt in an Aging Economy

Olivia Mitchell and Annamaria Lusardi

Abstract

Around the world, people nearing and entering retirement are holding ever-greater levels of debt than in the past. This is not a benign situation, as many pre-retirees and retirees are stressed about their indebtedness. Moreover, this growth in debt among the older population may render retirees vulnerable to financial shocks, medical care bills, and changes in interest rates. Contributors to this volume explore key aspects of the rise in debt across older cohorts, drill down into the types of debt and reasons for debt incurred by the older population, and review policies to remedy some of the ... More

Keywords: debt, pension, aging, retiree, financial literacy

Bibliographic Information

Print publication date: 2020 Print ISBN-13: 9780198867524
Published to Oxford Scholarship Online: November 2020 DOI:10.1093/oso/9780198867524.001.0001

Authors

Affiliations are at time of print publication.

Olivia Mitchell, editor
International Foundation of Employee Benefit Plans Professor, Wharton School of the University of Pennsylvania

Annamaria Lusardi, editor
Endowed Chair of Economics and Accountancy, George Washington University School of Business

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Contents

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Chapter 1 Introduction

Olivia S. Mitchell and Annamaria Lusardi

Part I Debt Developments in an Aging Economy

Chapter 2 Debt Close to Retirement and its Implications for Retirement Well-being

Annamaria Lusardi, Olivia S. Mitchell and Noemi Oggero

Chapter 3 The Graying of American Debt

Meta Brown, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw

Chapter 4 The Risk of Financial Hardship in Retirement

Jason Brown, Karen Dynan, and Theodore Figinski

Part II Retirement, Debt, and Financial Fragility at Older Ages

Chapter 5 Financial Distress among the Elderly

Wenli Li and Michelle J. White

Chapter 7 Paying It Back

Anne Lester, Katherine S. Santiago, Je Oh, Livia Wu, and Ekaterina Chegaeva

Chapter 8 Is Rising Household Debt Affecting Retirement Decisions?

Barbara A. Butrica and Nadia S. Karamcheva

Part III Policy Perspectives on Debt at Older Ages

Chapter 11 Household Debt and Aging in Japan

Charles Yuji Horioka and Yoko Niimi