Definition
The human wealth span is a model of accumulation and consumption of resources over one’s life. Developed by Davis W. Gregg (1992), it builds on the successful aging concept and Modigliani’s life-cycle saving-dissaving hypothesis. According to this model, the human life span consists of two major stages: wealth accumulation and expenditure. During the former, individuals accrue financial and material resources, which are then consumed during the latter. The human wealth span model is also associated with the health dimension of successful aging as a factor affecting one’s income-earning opportunities and the possibility to continue productive work in old age.
Furthermore, individuals usually need to bear some costs of staying healthy, including health care or long-term care expenses. In line with Modigliani’s hypothesis, the wealth span model posits that wealth accumulation and...
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Szweda-Lewandowska, Z. (2019). Human Wealth Span. In: Gu, D., Dupre, M. (eds) Encyclopedia of Gerontology and Population Aging. Springer, Cham. https://doi.org/10.1007/978-3-319-69892-2_198-1
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DOI: https://doi.org/10.1007/978-3-319-69892-2_198-1
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