Description
Book SynopsisTrade ReviewMartin Baily and Ben Harris have written the definitive account of what is wrong with retirement today and what needs to be done to fix it. While solidly grounded in economic reasoning and evidence, they never lose sight of the important role that retirement policy should play in efficiency, equity, and happiness more broadly. They do not just describe problems but offer bold and compelling solutions. * Jason Furman, Aetna Professor of the Practice of Economic Policy, Harvard University and Chairman of the Council of Economic Advisers (2013-17) *
Martin Baily and Ben Harris have written a critique of U.S. retirement policy that is clear, compelling, and notably comprehensive - covering public and private retirement programs, work among the elderly, end-of-life care, and a variety of financial instruments such as reverse mortgages and private annuities. Their experience as researchers and high-level policy makers leads to a seamless blend of academic analysis, policy recommendations, and descriptions of how the changes would benefit ordinary citizens. * William Gale, Director, Retirement Security Project, Brookings Institution *
This well-written book should be required reading for anyone who cares about ensuring that all Americans can enjoy a secure old age. Baily and Harris document the challenges to achieving that goal and provide a practical, evidence-based set of recommendations for meeting it that should appeal to policymakers on both sides of the aisle. * Katharine G. Abraham, Distinguished University Professor, University of Maryland *
This book touts an ideal golden mean of spending, a balance between both the hoarding of assets and their profligate use. Although not an easy study, this crucial text will help readers who consult it several times. * Choice *
Table of ContentsChapter 1: Overview Chapter 2: Retirement: How Are We Doing? Chapter 3: Driving Economic Growth: Chapter 4: Entitlements: The Cornerstone of Retirement Chapter 5: Working Longer Chapter 6: Why is Saving So Hard? Chapter 7: Transitioning to Retirement in a Changing Labor Market Chapter 8: How Annuities Can Mitigate Uncertainty and Improve Retirement Chapter 9: How are Families Planning for End-of-Life Care? Chapter 10: Reverse Mortgages Chapter 11: How to Improve Retirement Accounts Chapter 12: Improving Opportunities for Older Workers Chapter 13: Reforming Private Insurance Markets Chapter 14: A Vision for a New Retirement Paradigm
