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National Longitudinal Survey of Youth 1979 (NLSY79)

Retirement

Beginning with the 2006 survey year, questions about retirement preparation and expectations were introduced as respondents reached their fifties. Table 1 outlines the retirement preparation/expectation variables, along with the survey years in which they were included. These variables are available in the NLS Investigator by searching for the question name root RETIRE_EXP.

In 2018, the retirement section was revised and expanded to allow respondents, many of whom were beginning to retire, to provide more comprehensive details about their retirement funds. Information about types of retirement savings and income expectations can be found in the Pension Benefits & Pension Plans section and by searching the NLS Investigator using the RETIRE_FIN question name root.

Additionally, in the 2018-2022 survey years, respondents were asked if their employer had ever offered an early retirement window, one with a special financial incentive like a cash bonus or improved pension benefits. These variables are available in the NLS Investigator by searching for the question name QES-EARLYOUT.

Table 1. Retirement preparation and expectation questions asked of NLSY79 respondents: 2006-2022
Question 2006
Note 1.1		 2008  2010 2012 2014  2016 2018 2020 2022

What is the probability that you will not be working for pay at age 67? age 65? age 62? Note 1.2

 * * * * * * * * *

How would you define retirement for yourself? ("Select All" categories include stop work, receive pension, work for fun, etc.)

 * * * * *        

Approximately at what age do you think you'll retire?

 * * * * *        

Do you expect to work for pay… or at a family business for pay/profit in the future?

   * * * *        

Have you ever calculated how much retirement income you would need at retirement?

 * * * * *        

Have you ever consulted a financial planner about how to plan your finances after retirement?

 * * * * *        

Have you ever read any magazines or books on retirement spending?

 * * * * *        

Have you ever used a computer program to help you plan your retirement?

 * * * * *        

Have you ever attended any meetings on retirement or retirement planning?

 * * * * *        

Were any of the meetings organized by your (or your spouse's/partner's) employer?

 * * * * *        

Did you (or your spouse's/partner's) attend the meetings on a voluntary basis or was attendance required?

 * * * * *        

What do you think the chances are that you will be working full-time after you reach age 62? age 65? age 67?

         * * * * *

What do you think the chances are your health will limit your work activity during the next 10 years?

         * * *   *

What do you think the chances are you (and spouse/partner) will leave inheritances totaling $10,000 or more? $100,00 or more?

         * *      

What do you think the chances are you will live to be 75 or more? (85 or more?)

         * * *   *

What do you think the chances are you will ever have to move to a nursing home?

         * * *    

What do you think the chances are you (and spouse/partner) will have major medical or long-term care expenses

                 *

How much planning have you done for your retirement?

             *   *

Right now, would you like to leave work altogether, but plan to keep working because you need health insurance?

             *   *

Right now, would you like to leave work altogether, but plan to keep working because you need the money?

             *   *

Have you received a foreclosure notice in the past 12 months?

                 *

Note 1.1: Only a random sample of 991 respondents were asked retirement expectations questions in 2006.

Note 1.2: Probability working at age 62 (asked in 2006-2022), at age 65 (asked in 2006-2022), and at age 67 (asked in 2006-2012, 2022).
Survey Instruments & Documentation Questions about retirement expectations can be found in the following sections: Retirement Expectations Part I (2006), Retirement Expectations Part II (2006), and Retirement Expectations (2008-2022).
Areas of Interest Retirement preparations, expectations, savings plans and retirement income are located in the "Retirement" areas of interest, while the early retirement window variable is in "Job Information."