Book Reviews

2010 ◽  
Vol 48 (4) ◽  
pp. 1038-1039
Keyword(s):  
The United States ◽  
Retirement Savings ◽  
Behavioral Strategies ◽  
Yale University ◽  
Individual Retirement Accounts ◽  
The United Kingdom ◽  
Retirement Accounts ◽  
Lifetime Income ◽  
Retirement Security

James J. Choi of Yale University reviews “Automatic: Changing the Way America Saves” by William G. Gale, J. Mark Iwry, David C. John, Lina Walker,. The EconLit Abstract of the reviewed work begins “Nine papers explore methods of making the U.S. system of 401(k)-type plans and Individual Retirement Accounts more effective. Papers discuss retirement saving for middle- and lower-income households--the Pension Protection Act of 2006 and the unfinished agenda (William G. Gale, J. Mark Iwry, and Spencer Walters); the automatic 401(k)--revenue and distributional estimates (Christopher Geissler and Benjamin H. Harris); pursuing universal retirement security through automatic IRAs (Iwry and David C. John); national retirement savings systems in Australia, Chile, New Zealand, and the United Kingdom--lessons for the United States (John and Ruth Levine); increasing annuitization in 401(k) plans with automatic trial income (Gale, Iwry, John, and Lina Walker); automatic annuitization--new behavioral strategies for expanding lifetime income in 401(k)s (Iwry and John A. Turner); retirement security for Latinos--bolstering coverage, savings, and adequacy (Peter R. Orszag and Eric Rodriguez); retirement security for women--progress to date and policies for tomorrow (Leslie E. Papke, Walker, and Michael Dworsky); and strategies to increase the retirement savings of African American households (Ngina Chiteji and Walker). Gale is Arjay and Frances Miller Chair in Federal Economic Policy at the Brookings Institution and Director of the Retirement Security Project. Iwry is Senior Adviser to the Secretary and Deputy Assistant Secretary for… Index.”

scholarly journals How To Invest Your IRAs In Profitable Real Estate IRAs

2011 ◽  
Vol 2 (11) ◽  
Author(s):  
Raj Kiani ◽  
M.A. Sangeladji
Keyword(s):  
Real Estate ◽  
Interest Rates ◽  
Retirement Savings ◽  
Sharp Decline ◽  
The Public ◽  
Individual Retirement Accounts ◽  
The Past ◽  
Retirement Accounts ◽  
Roth Ira ◽  
Investment Advisers

Since the inception of Individual Retirement Accounts (IRAs) in 1974, the public has been advised strongly by bankers, accountants (CPAs), and investment advisors that the best strategy for IRA holdings is investment in stocks or bonds.  Unfortunately, with the sharp decline in the market value of stocks and the bottoming out of interest rates in the past years, most IRA funds have performed very poorly and investors have witnessed how drastically their retirement savings lost their accumulated value.  During these years, apparently, not many investment advisers have bothered to consider other alternative ways for investing accumulated IRAs and pension funds.  There is, in fact, another viable investment alternative that offers both safety and a considerable growth rate.  That is real estate IRAs.  The purpose of this paper is to explain (a) why the traditional and Roth IRA should be invested in real estate, b) the steps involved in establishing a sound real estate IRA, (c) the restrictions and the dos and don’ts of investing in a real estate IRA, and (d) the tax and penalty consequences of incorrect investment in a real estate IRA.

Book Reviews

2003 ◽  
Vol 21 (4) ◽  
pp. 124-141
Keyword(s):  
New York ◽  
The United States ◽  
West Germany ◽  
The European Union ◽  
Politics Of Memory ◽  
Cornell University ◽  
The United Kingdom ◽  
Chapel Hill ◽  
Security Affairs

Henning Tewes, Germany, Civilian Power and the New Europe. Enlarging NATO and the European Union (New York: Palgrave, 2002)Review by James SperlingAndreas Huyssen, Present Pasts: Urban Palimpsests and the Politics of Memory (Stanford: Stanford University Press, 2003)Review by Eric LangenbacherMaria Höhn, GIs and Fräuleins: The German-American Encounter in 1950s West Germany (Chapel Hill: University of North Carolina Press, 2002)Review by Atina GrossmannJames McAllister, No Exit: America and the German Problem, 1943-1954, Cornell Studies in Security Affairs (Ithaca and London: Cornell University Press, 2002)Review by Robert Gerald LivingstonHubert Zimmermann, Money and Security: Troops, Monetary Policy, and West Germany’s Relations to the United States and the United Kingdom, 1950-1971 (New York: Cambridge University Press, 2002)Review by Thomas Banchoff

Factors Associated With the Ownership of Individual Retirement Accounts (IRAs): Applying the Theory of Planned Behavior

2020 ◽  
pp. JFCP-19-00023
Author(s):  
Frank M. Magwegwea ◽  
HanNa Lim
Keyword(s):  
Theory Of Planned Behavior ◽  
Path Analysis ◽  
Planned Behavior ◽  
Psychological Factors ◽  
Behavioral Control ◽  
Perceived Behavioral Control ◽  
Retirement Savings ◽  
Individual Retirement Accounts ◽  
Factors Associated ◽  
Retirement Accounts

Despite the importance of retirement savings, many individuals retire with lack of adequate retirement savings. While calculating retirement savings needs was found to enhance retirement savings, little is known about what underlies this enhancement. Applying the theory of planned behavior (TPB), we developed a model in which psychological factors influence the calculation of retirement savings needs, which in turn influences the ownership of individual retirement accounts. Path analysis was used to test our model with data from the 2015 National Financial Capability Study. The results showed that favorable attitudes, strong social norms, and perceived behavioral control are associated with calculating retirement savings needs. Also, calculating retirement savings needs as well as perceived behavioral control and having an employer-based retirement plan, in turn, contributed to the prediction of individual retirement account ownership. Our results suggest it is important to understand he psychological factors behind calculating retirement savings needs and to make it easy for individuals to calculate those needs.

scholarly journals Financial Well-Being Across Age Cohorts and Its Impact on Retirement Security

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 111-111
Author(s):  
Stephanie Skees ◽  
Stephen Roll
Keyword(s):  
Life Course ◽  
Well Being ◽  
The United States ◽  
Retirement Savings ◽  
Defined Benefit ◽  
Defined Contribution ◽  
Age Cohorts ◽  
Retirement Security ◽  
The Life Course ◽  
The Relationship

Abstract The lack of retirement savings in the United States has been well-documented. For example, in 2013 roughly one-third of households near retirement lacked either a defined benefit or defined contribution retirement plan (U.S. Government Accountability Office, 2015), and the median retirement account balance is $0 (Oakley, Brown, & Saad-Lesler, 2018). While this lack of savings is concerning, less clear is the relationship between retirement security and a household’s sense of financial well-being. To that end, this study uses the nationally representative 2017 Survey of Household Economics and Decisionmaking to investigate the relationship between both retirement security indicators and subjective financial well-being—as measured through the Consumer Financial Protection Bureau’s financial well-being scale—across the life course. Specifically, we use multiple regression approaches to compare how financial and knowledge-based indicators of retirement security contribute to the financial well-being of young, mid-career, and pre-retirement cohorts. Preliminary results indicate that feeling “on track” for retirement savings and comfort in making retirement savings decisions were among the strongest contributes to a sense of financial well-being across age cohorts. However, these indicators were particularly important to the financial well-being of older households. Surprisingly, having a 401(k), IRA or pension had no significant impact on savings when controlling for other factors. This study speaks to the importance of both providing effective retirement savings tools, including both educational and financial resources, at multiple points across the life course. It also contributes to a small but growing literature on the intersections between subjective financial well-being and financial decisionmaking.

scholarly journals Book Reviews

Commonwealth ◽  
2018 ◽  
Vol 20 (1) ◽  
Author(s):  
Michelle J. Atherton ◽  
J. Wesley Leckrone
Keyword(s):  
United States ◽  
United Kingdom ◽  
Political Development ◽  
The United States ◽  
The United Kingdom ◽  
Gifford Pinchot

This section includes book reviews of Timothy Weaver’s Blazing the Neoliberal Trail: Urban Political Development in the United States and the United Kingdom by Michelle J. Atherton and Char Miller’s edited volume Gifford Pinchot: Selected Writings by Wesley Leckrone.

How Will State-Run Auto-IRAs Affect Workers?

2018 ◽  
Keyword(s):  
Survey Data ◽  
Credit Card ◽  
Retirement Savings ◽  
Retirement Plans ◽  
National Scale ◽  
Individual Retirement Accounts ◽  
Financial Difficulties ◽  
Retirement Accounts ◽  
Opt Out ◽  
Over Time

In order to encourage savings among workers without access to employer-sponsored retirement plans, several states have proposed defaulting workers into state-run individual retirement accounts known as Auto-IRAs. Plans such as OregonSaves automatically enroll workers and, by default, increase their contributions over time. Given low opt-out rates, these policies have the potential to increase retirement savings for workers without access to employer-sponsored plans. Using survey data, we find that over 24 million workers could automatically be enrolled in an Auto-IRA, if enacted on a national scale. Nonetheless, these policies have the potential to adversely affect individuals with debt and current financial difficulties who do not actively opt-out. One-third of potentially affected workers hold credit card debt with an average balance exceeding $5,000. Furthermore, approximately 15% of potentially affected workers have difficulty meeting basic needs.

Book Reviews

2010 ◽  
Vol 48 (1) ◽  
pp. 168-172
Keyword(s):  
United States ◽  
Los Angeles ◽  
Crime Control ◽  
The United States ◽  
Gun Control ◽  
Brute Force ◽  
Yale University ◽  
Control Drug ◽  
The University

John J. Donohue of Yale University reviews “When Brute Force Fails: How to Have Less Crime and Less Punishment” by Mark A. R. Kleiman,. The EconLit Abstract of the reviewed work begins “Considers a consequence-focused approach to crime control in the United States and whether it would work better than the current brute force-based method. Discusses how the United States moved from low-crime, low-punishment to higher crime and punishment rates in the last fifty years; thinking about crime control; hope; tipping, dynamic concentration, and the logic of deterrence; crime despite punishment; designing enforcement strategies; crime control without punishment; guns and gun control; drug policy for crime control; what could go wrong; and an agenda for crime control. Kleiman is Professor of Public Policy at the University of California, Los Angeles. Bibliography; index.”

Book Reviews

2010 ◽  
Vol 48 (4) ◽  
pp. 1031-1033
Keyword(s):  
Primary Schools ◽  
Well Being ◽  
Music Programs ◽  
Yale University ◽  
The United Kingdom ◽  
Law And Ethics ◽  
Philip Pettit ◽  
Poor Children ◽  
The Relationship

Helene Landemore of Yale University reviews “Against Injustice: The New Economics of Amartya Sen” by Reiko Gotoh, Paul Dumouchel,. The EconLit Abstract of the reviewed work begins “Twelve papers, based on the “Ethics, Economics, and Law: Against Injustice” conference held at Ritsumeikan Univerisity in Kyoto in 2005, examine a variety of theoretical and empirical issues related to Amartya Sen’s conception of the relationship between economics, ethics, and law. Papers discuss economics, law, and ethics (Sen); neorepublicanism and Sen’s economic, legal, and ethical desiderata (Philip Pettit); the Prajapati test--response to Sen (Marcel Henaff); the power of a democratic public (Pettit); the challenge of gender justice (Martha C. Nussbaum); gift, market, and social justice (Henaff); justice and public reciprocity (Reiko Gotoh); reasoning and preferences (John Broome); conceptions of individual rights and freedom in welfare economics--a reexamination (Prasanta K. Pattanaik and Yongsheng Xu); on applying synthetic indexes of multidimensional well-being--health and income inequalities in France, Germany, Italy, and the United Kingdom (Andrea Brandolini); assessing children’s capabilities--operationalizing metrics for evaluating music programs with poor children in Brazilian primary schools (Flavio Comim); and the search for socially sustainable development--conceptual and methodological issues (Jean-Luc Dubois). Also includes a response from Sen to his critics. Gotoh and Dumouchel are Full Professors in the Graduate School of Core Ethics and Frontier Sciences at Ritsumeikan University. Index.”

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