IDEAS home Printed from https://ideas.repec.org/p/zbw/safepl/26.html
   My bibliography  Save this paper

Family status, social security claiming options, and life cycle portfolios

Author

Listed:
  • Hubener, Andreas
  • Maurer, Raimond
  • Mitchell, Olivia S.

Abstract

Social Security rules that determine retirement, spousal, and survivor benefits, along with benefit adjustments according to the age at which these are claimed, open up a complex set of financial options for household decisions. These rules influence optimal household asset allocation, insurance, and work decisions, subject to life cycle demographic shocks, such as marriage, divorce, and children. Our model-based research generates a wealth profile and a low and stable equity fraction consistent with empirical evidence. We confirm predictions that wives will claim retirement benefits earlier than husbands, while life insurance is mainly purchased by younger men. Our policy simulations imply that eliminating survivor benefits would sharply reduce claiming differences by sex while dramatically increasing men's life insurance purchases.

Suggested Citation

  • Hubener, Andreas & Maurer, Raimond & Mitchell, Olivia S., 2014. "Family status, social security claiming options, and life cycle portfolios," SAFE Policy Letters 26, Leibniz Institute for Financial Research SAFE.
    • Handle: RePEc:zbw:safepl:26
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/106976/1/817042393.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    life-cycle models; household savings; investment decisions; life-cycle models; household savings; investment decisions;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:safepl:26. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/csafede.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.