Jun 26, 2015
This project established a research network for the harmonization of cross-national studies of aging with the Health and Retirement Study (HRS).
Throughout the world, people are living well beyond traditional retirement ages. Some will suffer from health problems while others will remain in good health and continue to participate in the labor force. RAND Labor and Population research findings and recommendations help improve policies that aim to enhance physical conditions, cognitive functioning, medical care, and financial security of aging populations.
Improving the physical and economic well-being of Americans in the years before and after retirement is a key theme of our work, and is one of the focuses of our Center for the Study of Aging and our Center for Chinese Aging Studies, which have been conducting interdisciplinary cutting-edge research for more than two decades. Work in this area is examining, for example, the lifetime risk of needing long-term care, providing model-based estimates of the viability of long-term care insurance, developing long-term care options for dementia, and examining international differences in health and longevity.
The ability to make sound financial decisions is something that affects individuals over the life course, but it particularly affects the elderly as they move toward retirement. This theme is the focus of work in another of our centers, the Center for Financial and Economic Decision Making, which looks at how people collect information, how they think about risks and rewards, and how well they match their financial decisions to their preferences and interests.
This report reviews evidence from the research literature about whether working with a financial adviser improves savings behavior, in general, as well as saving for long-term goals, particularly retirement. Individuals who receive professional financial advice are likely to be more financially healthy, but few papers address reverse causation, limiting insights into whether advisers are causing improvements in their clients' savings behavior.
RAND researchers supported a high-level Israeli government team tasked with improving long-term socioeconomic strategy for the state. This report highlights selected inputs made to the government team to summarize the essential mechanics and roles for bringing a strategic perspective to policy consideration. To show how one can use a strategic perspective in an analysis of policy choices, the report uses the example of an aging population.
Uses the Health and Retirement Study to determine how job insecurity and unemployment insurance can affect the relationship between job insecurity and job search.
Examines causes of steeper declines in nondurable expenditures in the UK compared to the US in spite of income paths at older ages exhibiting similar declines.
In this study, the authors analyze the labor-market dynamics of middle-aged and older men in Mexico.
Examines if and how financial advisors are influenced by their compensation schemes and how this influence impacts retail investors' financial well-being.