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Older Women’s Income and Wealth Packages: The Five-Legged Stool in Cross-National Perspective.

Older Women’s Income and Wealth Packages: The Five-Legged Stool in Cross-National Perspective. Janet C. Gornick City University of New York and Luxembourg Income Study Eva Sierminska Luxembourg Income Study Timothy M. Smeeding Syracuse University and Luxembourg Income Study

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Older Women’s Income and Wealth Packages: The Five-Legged Stool in Cross-National Perspective.

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  1. Older Women’s Income and Wealth Packages: The Five-Legged Stool in Cross-National Perspective. Janet C. Gornick City University of New York and Luxembourg Income Study Eva Sierminska Luxembourg Income Study Timothy M. Smeeding Syracuse University and Luxembourg Income Study “The Luxembourg Wealth Study: Enhancing Comparative Research on Household Finance” Banca d’Italia, Roma, 5-7 July 2007

  2. Data Used: Luxembourg Wealth Study (LWS) surveys – five countries Source: LWS database.

  3. Research Questions(first three to be discussed in conference presentation) 1) How do older women’s employment and retirement patterns vary across countries? 2) How do older women’s income packages, and their wealth portfolios, vary across countries? 3) To what extent is low-income paired with limited wealth, and how does that vary across countries? 4) What do we know about the income and wealth holdings of poor older women, including both home-owners and renters? 5) How widespread is extreme hardship among older women in these countries, vis-à-vis both income and wealth?

  4. Key methodological decisions: • Compare U.S. to Italy, Germany, Sweden, and U.K. • Our core income measure is DPI = earnings + capital income + private transfers (including occupational pensions) + public transfers (social insurance and public assistance), net of taxes/contribs. • Our core wealth measure is net wealth = financial assets + non-financial assets – debt. • Unit of analysis = households including women age 65+. • DPI and net wealth both adjusted for household size. Adjusted = unadjusted / (square root of household size) • Income poverty = income < 50% national median income. • Asset poverty = liquid assets < 25% national median income (equivalent to six months at poverty level).

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