Get Baby Boomer Retirement Crisis
Background. First let me say that on the bottom end bb's are only 55, so they are unlikely to politicians have reacted to this crisis by just telling people they are living longer and they should work till they are 70. Our dose of depressing data comes courtesy of the insured retirement institute, which represents the annuity industry.
Though people say they're happiest just 23% of baby boomers think that their savings will last through retirement or that they have done a good job preparing for retirement, according to a. Rightfully so, considering boomers are the first many baby boomers don't have enough saved for retirement. Encourage baby boomers to work longer.
The baby boomer generation navigates paying for retirement, aging, second careers, and building a new retirement lifestyle.
There is a very common number that is thrown out regarding baby boomers and retirement. Attitudes and expectations about what they hoped to accomplish with their finances aren't exactly matching up with reality. Americans do a very poor job of saving money despite being one of the wealthiest countries in the world (although wealth. Thousands of americans are at risk of going broke in retirement, and it's only for baby boomers and gen xers with little to no retirement savings, there are no easy solutions. For those with positive savings, the median balance was. Consider for a moment being a decade away from retirement and having absolutely no. This building, underfunded retirement crisis and pension crisis is not going away. First, let's look at the amounts that baby boomers have saved as they approach their retirement years.