RT Journal Article SR Electronic T1 The Great Recession, Decline, and Rebound in Household Wealth for the Near-Retirement Population JF The Journal of Retirement FD Institutional Investor Journals SP 27 OP 44 DO 10.3905/jor.2014.2.2.027 VO 2 IS 2 A1 Alan L. Gustman A1 Thomas L. Steinmeier A1 Nahid Tabatabai YR 2014 UL https://pm-research.com/content/2/2/27.abstract AB This article uses data from the Health and Retirement Study (HRS) to examine the effects of the Great Recession on wealth held by the near-retirement-age population over 2006–2012. Despite a severe decline in asset values during this period, the wealth of early Baby Boomers (ages 51 to 56 in 2004), fell by only 3.6%. Much of the decline was cushioned by the wealth represented by Social Security and defined benefit (DB) pensions. The rebound in asset values observed between 2010 and 2012 mitigated, but did not erase, the losses experienced earlier. Those in the highest wealth deciles, with a larger share of financial assets, were hurt most severely. Unlike those in lower wealth deciles, they have yet to regain the wealth lost during the recession. Although the losses in assets imposed by the Great Recession were relatively modest, the failure of assets to grow above their initial levels has imposed a cost on recent retirees.TOPICS: Retirement, financial crises and financial market history