We are grateful for comments and suggestions from Jody Schimmel Hyde, Stephanie Rennane, Phil Armour, and attendees at the ASHEcon annual conference, Washington Area Labor Economics Symposium, Association for Public Policy Analysis and Management annual Fall meeting, Southeastern Health Economics Study Group, and Southern Economics Association annual meeting. We also thank the University of Michigan for providing data linkage between HRS and Social Security Administration data. Slavov has received significant financial support during the past three years from the following organizations: 1) The TIAA Institute and 2) The Peter G. Peterson Foundation. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.