Essays on Factors That Might Lead to Gender Differences in Savings for Retirement Essay

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The paper "Factors That Might Lead to Gender Differences in Savings for Retirement" is a good example of micro and macroeconomic essay.   We can state that the households' life-cycle labor supply decisions often result in men having more and women having less retirement wealth. Stevens & Moulton (2013) states that women are more helpless than men to face life in their old age. It is somewhat because of the way that they work less contrasted with men over their workings lives making them accumulate fewer savings to utilize during their retirement age.

Another important factor that contributes to the fact that women face poverty during their retirement age is the fact that averagely, women leave longer than their men counterparts and their little earnings are being spread over a longer period. Furthermore, women face many chronic health problems during their old age. Many scholars like Pozzabon & Mitchel (1989) states that retirement's savings are taking a new dimension where investments are being made as far as financial related resources. The bit of the private benefits that are characterized commitment arrangements is persistently expanding and the strategic thinkers including the government are thinking about the privatization of the standardized savings.

In such circumstances, women' prosperity in the retirements will completely depend on more on their demeanor toward danger and the particular effect of their states of mind on the venture choice which they take. As the retirements reserve funds are gradually moving far from the focal government binding commitment, it is imperative for women to consider differentiating their speculation choices and be more open to interests in the benefits financial and another accessible venture arranges in the companies sector.

It can only change with a change in attitude and priority. Bernasek & Shwiff (2001) states that with the recent economic development and the increasing development of defined contribution retirement plans; this has made each and everyone to be personally liable for their financial security in the old age. The financial related security relies on the capacity of people to have the capacity to gather more wealth. This wealth is an exceptionally huge source of retirement wage for individuals who are not ready to simply depend on the government-managed savings and companies gave characterized advantage benefits plan to a large portion of the general population working in their organization.

Reference

Attanasio, O., Low, H. W., & Sanchez-Marcos, V. (2006). Explaining changes in female labour supply in a life-cycle model.

Attanasio, O., Low, H., & Sanchez-Marcos, V. (2008). Explaining changes in female labor supply in a life-cycle model. The American Economic Review, 1517-1552.

Bernasek, A & Shwiff, S (2001) “Gender, Risk, and Retirement” Journal of Economic

Issues, 35(2), p. 345 – 356.

French, E. (2005). The effects of health, wealth, and wages on labour supply and retirement behaviour. The Review of Economic Studies, 72(2), 395-427.

Kimmel, J & Connolly, R (2007) “Mothers’ Time Choices: Caregiving, Leisure, Home Production, and Paid Work” Journal of Human Resources, 62(3), p. 643 – 681.

Neelakantan, U & and Chang, Y (2010) “Gender Differences in Wealth at Retirement” American Economic Review, May, p. 362 – 367.

Pozzabon, S & Mitchel, O (1989) “Married Women’s Retirement Behavior” Journal of

Population Economics, 2, p. 39 – 53.

Rust, J. P. (1989). A dynamic programming model of retirement behavior. In The economics of aging (pp. 359-404). University of Chicago Press.

Stevens, A. H., & Moulton, J. (2013). ‘Effects of Late-Life Job Loss on Wealth and Labor Supply. Lifecycle Events and Their Consequences: Job Loss, Family Change, and Declines in Health.

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