Friday, April 11, 2014

Baby Boomers Get Nervous

We've heard reports of 401(k) balances reaching new record highs, but that hasn't translated into optimism on the part of upcoming retirees. According to a new survey from the Insured Retirement Institute, just 35 percent of Baby Boomers said they felt confident about their retirement. That's down from 44 percent in 2011.

Just 65 percent of those Boomers said that they were economically satisfied. That number is down from 77 percent who felt satisfied in the same survey a year ago, despite the fact that the stock market has been roaring over that stretch.

What's the issue here? It may simply be that more and more Baby Boomers are actually retiring - 10,000 of them turn 65 every day. Crossing that threshold may be enough to turn a once-confident worker into a nervous retiree.

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