Chapter

The Effect of Large Capital Gains or Losses on Retirement

Michael D. Hurd, Monika Reti and Susann Rohwedder

in Developments in the Economics of Aging

Published by University of Chicago Press

Published in print April 2009 | ISBN: 9780226903354
Published online February 2013 | e-ISBN: 9780226903361 | DOI: http://dx.doi.org/10.7208/chicago/9780226903361.003.0005
The Effect of Large Capital Gains or Losses on Retirement

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The stock market boom of the mid-1990s to 2000, and the subsequent bust between 2000 and 2002, provides an opportunity to study what was likely an unexpected wealth change for at least part of the population. This chapter examines whether households used wealth gain to retire earlier than anticipated. The researchers found no evidence that workers in households which had large gains retired earlier than they had anticipated, or that they revised their retirement expectations compared with workers in households that had no large gains.

Keywords: retirement; wealth gain; stock market boom; stock market busts

Chapter.  17251 words.  Illustrated.

Subjects: Public Economics

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