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A 2006 report looking at median wealth among Early Baby Boomers (age 51-56) and adults over 50 in the Health and Retirement Study (HRS) found that people who did not plan for retirement "accumulate from $17,000 to $20,000 less wealth than those who do some (a little or a lot) planning. This corresponds to approximately 20 percent less wealth." (p. 15)
Lusardi, A., & Beeler, J. (2006). Savings between cohorts: The role of planning. Ann Arbor, MI: Michigan Retirement Research Center. Retrieved from http://www.dartmouth.edu/~alusardi/Papers/Lusardi_Beeler_MRRC.pdf
This article compares the saving behavior of two cohorts: the Early Baby Boomers (EBB, age 51-56 in 2004) and the HRS cohort (age 51-56 in 1992) using data from the Health and Retirement Study (HRS), a nationally representative survey of older Americans over the age of 50 (and their spouses of any age). The sample size was 2,631 for the EBB and 4,577 for the HRS cohort.
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