Financial and Life Planning Resource Directory

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Consumers/clients: Late career, retirement Money
Money: Retirement planning
Money: Expense management, budgeting
	Aguila, Emma, et al, Changes in Consumption at Retirement
		RAND Corporation, October 2008, Free http://www.rand.org/pubs/working_papers/2008/RAND_WR621.pdf The authors dispute the previous common wisdom that consumption drops at retirement. This is true for food expenditures, which previous studies have tracked, but not for non-durable goods purchases overall.
	Fisher, Jonathan D., and Marchand, Joseph T., Does the Retirement Consumption Puzzle Differ across the Distribution?
		Center for Economic Studies, March 2011, Free http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1786433## Fisher and Marchand docu-ment that the drop in consumer spend-ing that occurs at retirement is greatest for people who spend the most, and disappears in the bottom fifth of the economic distribution.
	Klinger, William J., "Creating Safe, Aggressive Retirement Income Profiles", Journal of Financial Planning, May 2010 (Vol. 23, No. 5)
		Klinger uses a Monte Carlo model that assumes declining expenses in older age.
	Lewbel, Arthur,and Seitz, Shannon, Health and Retirement Effects in a Collective Consumption Model of Elderly Households
		Boston College Center for Retirement Research, February 2011, Free http://crr.bc.edu/working_papers/health_and_retirement_effects_in_a_collective_consumption_model_of_elderly_households.html Lewbela nd Seitz explore the consumption of goods by retired married couples.
	Smith, Karen E., et al, How Seniors Change Their Asset Holdings During Retirement
		Boston College Center for Retirement Research, December 2009, Free http://crr.bc.edu/images/stories/Working_Papers/wp_2009-31.pdf The authors discovered that higher-income seniors increase their assets in retirement, middle-income seniors reduce their assets but at a rate that in most cases will not deplete assets, but many low-income seniors have fewer assets and spend them at a rate that will deplete them.
	Spending the Nest Egg: Retirement Income Decisions among Older Investors
		Vanguard Center for Retirement Research, October 2008, Free https://institutional.vanguard.com/iam/pdf/CRRSNE.pdf This study found that half of people age 55-75 with $50,000 or more in savings tapped into their savings in the past year, mostly in lump sums rather than regular, systematic withdrawals. It predicts that this proportion will increase.
Money: Debt management, mortgages
	Webb, Anthony, Should You Carry a Mortgage into Retirement?
		Boston College Center for Retirement Research, July 2009, Free http://crr.bc.edu/images/stories/Briefs/ib_9-15.pdf Webb argues that you should carry a mortgage into retirement, but instead pay off the mortgage if liquidity allows, since you will be unlikely to achieve risk-free investment returns that exceed your mortgage interest rate.
Money: Investments, asset management
Money: Social Security, pensions, annuities
Money: Health care costs, insurance
Money: Life insurance, legacy planning, estate planning
	Anspach, Dana, "I’m Retired - Do I Still Need Life Insurance?"
		http://moneyover55.about.com/od/insuranceknowhow/a/lifeinsurance.htm, Free A basic, clear, and reasonably objective guide to thinking about life insurance in your retirement years. Includes links to related subjects.
	Lee, Shelley A., "Betting the Farm: Estate Planning for Middle-Income Clients", Journal of Financial Planning, April 2010 (Vol. 23, No. 4)
		Lee presents insights from a variety of financial planners concerning the need for estate planning even among people who consider themselves middle income types, and who don’t realize that there may be a problem.
	Life Insurance during Retirement: Basics You Need to Know
		RetirementWorks, Inc., 2010, Free http://www.retirementworks2.com/pdfs/Life%20Insurance-UNU.pdf Explains your basic options, and the next steps you should take, whether you need more life insurance, or less.
Money: Family financial transactions
	Coe, Norma B., and Webb, Anthony, Actual and Anticipated Inheritance Receipts
		Boston College Center for Retirement Research, December 2009, Free http://crr.bc.edu/images/stories/Working_Papers/wp_2009-32.pdf Coe and Webb observe that most inheritances are modest, and so, while data suggest that actual inheritances tend to be in line with expectations, these do not affect the saving behavior of most people.
Money: Other / general / not-specified