Baby Boomers are retiring in droves, with today about four in 10 (39%) members of the Boomer generation identifying themselves as fully retired.

But retirement looks much different for Baby Boomers than it did for their parents and grandparents. The Boomer generation is caught in the transition from institutional responsibility for retirement financial security to an increasing amount of individual responsibility. Pensions are largely a thing of the past, which means many baby boomers retiring are responsible for their own retirement preparedness and saving the majority of their retirement income.

Unfortunately, many face a Baby Boomer retirement crisis. Statistics show that many Baby Boomers can’t afford to retire and most Boomers have not done enough to adequately prepare …

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