Today, about four in 10 (39%) members of the Boomer generation identify themselves as fully retired. But for the generation caught in the transition from institutional responsibility for retirement financial security to an increasing amount of individual responsibility, most Boomers have not done enough to adequately prepare for their retirement years. In fact, 69% of Boomers admit that they don’t have or don’t know if they have the financial resources to comfortably make it to age 85, the average life expectancy of a 65-year-old Boomer today.
Boomers are making adjustments to meet the new financial challenges they are facing in retirement. The Boomer experience may provide a cautionary tale for generations to follow. More education, more advice and guidance and ultimately more savi