Wednesday, April 17, 2019

Boomers Fighting Retirement

It should be no surprise to find that boomers are still not ready for retirement, despite the fact that 47 percent of them are now retired. In fact, according to the “Boomer Expectations for Retirement 2019” study from the Insured Retirement Institute, 45 percent of the boomers have no retirement savings.

About 34 million boomers have already retired. U.S. Census data indicate that by 2030, when all boomers will have hit the traditional retirement age of 65, one out of every five people in the U.S. will be of retirement age. But this group is fighting hard against retirement.

Among the study’s findings are that a third of boomers intend not to retire till age 70, if then. A third of boomers ages 67 to 72 have already postponed retirement. Only 23 percent of boomers ages 56 to 61 expect income from a private company pension plan.

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