In: Economics
determine which group would have higher Social Security Wealth (SSW), all other things equal. Explain your answers.
(a) male or female
(b) born in 1925 or born in 1985
(c) single or married
(d) low-wage earner or high-wage earner
(e) single-earner couple or double-earner couple
Answer:
(a) Male
Reason:
Among male and female, male are mostly present at high paying jobs
as compared to male. Many female group are house wife as well, so
Male group will have higher Social Security Wealth.
(b) person born in 1985
Reason:
In 1929 there was great depression and market didn't go up for
10-15 years. Also with the epasses of time inflation also comes
into picture, combined togeteher all these a person born on 1985
will have more Social Security Wealth.
(c) Single
Reason:
Single will have more Social Security Wealth as compare to Married,
because number of commitments and liabitities are more to married
than single so married would be saving less compare to singles.
(d) high wage earner
Reason:
High wage earner will have higher Social Security Wealth because
they are earning more so they will have more scope of investing as
well as saving it for the future.
(e) double earner couple
Reason:
As double earner couple both husband and wife are earning, their
net sum would be more than single earner couple, so they will be
able to save more and hence higher Social Security Wealth.
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