Abstract
Prior research examining demographic and socioeconomic cohorts within household assets are reviewed. The method used by the Trinity study to determine success rates is discussed. Also, prior research examining withdrawals, retirement length, and assets is reviewed. In addition, background information regarding qualifications for HECMs is discussed. The chapter then focuses on the gains and incentives for delaying Social Security claiming and then reviews sample calculations of the PIA.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Butrica, B. A., Murphy, D., & Zedlewski, S. R. (2007). How many struggle to get by in retirement? (Center for Retirement Research WP#2007-27). Retrieved from http://crr.bc.edu/working-papers/how-many-struggle-to-get-by-in-retirement/.
Cooley, P. L., Hubbard, C. M., & Walz, D. T. (1999). Sustainable withdrawal rates from your retirement portfolio. Financial Counseling and Planning, 10(1), 39–47.
Cooley, P. L., Hubbard, C. M., & Walz, D. T. (2011). Portfolio success rates: Where to draw the line. Journal of Financial Planning, 24(4), 48–60.
González-Corzo, M. A. (2015, June). Strategies to increase financial asset ownership among U.S. Hispanics. Journal of Financial Planning, 28(6), 52–61.
HUD. (2017a). FHA reverse mortgages (HECMs) for seniors. Retrieved from https://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/hecm/hecmabou.
HUD. (2017b). Principal limit factors: On or after 10/2/17. Retrieved from https://www.hud.gov/sites/documents/august2017plftables.xls.
Knoll, M. Z., & Olsen, A. (2014). Incentivizing delayed claiming of Social Security retirement benefits before reaching the full retirement age. Social Security Bulletin, 74(4), 21–43.
Lichtenstein, J. (2012, December). Financial viability and retirement assets: A look at small business owners and private sector workers. Retrieved from https://www.sba.gov/sites/default/files/files/rs401tot%20(1).pdf.
Maroto, M., & Aylsworth, L. (2017). Assessing the relationship between gender, household structure, and net worth in the United States. Journal of Family and Economic Issues, 38(4), 556–571. https://doi.org/10.1007/s10834-017-9521-z.
Meyer, W., & Reichenstein, W. (2012). How the Social Security claiming decision affects portfolio longevity. Journal of Financial Planning, 25(4), 53–60.
Milevsky, M. A., & Huang, H. (2011). Spending retirement on planet Vulcan: The impact of longevity risk aversion on optimal withdrawal rates. Financial Analysts Journal, 67(2), 45–58.
Pfau, W. D. (2012). Choosing a retirement income strategy: A new evaluation framework. Retirement Management Journal, 2(3), 33–44.
Pfau, W. D. (2015). Making sense out of variable spending strategies for retirees. Journal of Financial Planning, 28(10), 42–51.
Pfau, W. D. (2016a). Incorporating home equity into a retirement income strategy. Journal of Financial Planning, 29(4), 41–49.
Pfau, W. D. (2016b). Understanding the line of credit growth for a reverse mortgage. Journal of Financial Planning, 29(3), 37–39.
Pfau, W. D. (2018). Reverse mortgages: How to use reverse mortgages to secure your retirement (2nd ed.). McLean, VA: McLean Asset Management Corporation.
Shoven, J. B., & Slavov, S. N. (2014). Recent changes in the gains from delaying Social Security. Journal of Financial Planning, 27(3), 32–41.
SSA. (2017a). Retirement planner: Delayed retirement credits. Retrieved from https://www.ssa.gov/planners/retire/delayret.html.
SSA. (2017b). Workers with maximum-taxable earnings. Retrieved from https://www.ssa.gov/oact/cola/examplemax.html.
SSA. (2017c). Your retirement benefit: How it is figured. Born in 1955. Retrieved from https://www.ssa.gov/pubs/EN-05-10070-1955.pdf.
Tacchino, K. B., Littell, D. A., & Schobel, B. D. (2012). Social Security: Additional evidence for delayed claiming. Journal of Financial Service Professionals, 66(5), 8–10.
U.S. Census Bureau. (2011). Survey of income and program participation (SIPP). Retrieved from http://thedataweb.rm.census.gov/ftp/sipp_ftp.html#sipp14.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2019 The Author(s)
About this chapter
Cite this chapter
Chien, CL. (2019). Prior Research Review and Overview of Enhanced Retirement Strategies. In: Enhancing Retirement Success Rates in the United States. Palgrave Pivot, Cham. https://doi.org/10.1007/978-3-030-33620-2_2
Download citation
DOI: https://doi.org/10.1007/978-3-030-33620-2_2
Published:
Publisher Name: Palgrave Pivot, Cham
Print ISBN: 978-3-030-33619-6
Online ISBN: 978-3-030-33620-2
eBook Packages: Economics and FinanceEconomics and Finance (R0)