Introduction and Overview
Introduction and Overview
This book is about strategies, products, and public policies that will help retiring middle-class workers and retired middle-class households to maximize their incomes and reduce their risks. Although it employs a scholarly style, the book is simply applied economics; it presents practical advice and ideas based on empirical investigations and analyses, in contrast to abstract theory and highly technical methodology. The collected works in the book span several years, so it represents an evolving yet consistent viewpoint. The following sections provide a description of two insurance vehicles that can be used to address or prevent two of the major financial risks facing retired households—life annuities and long-term care insurance—for the extra costs arising from the realization of longevity and disability risks, respectively.
Keywords: public policies, middle-class workers, middle-class households, incomes, risks, applied economics, life annuities, insurance
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