Many middle-income Americans were overwhelmed by the impact of 2008 financial crisis and recession. Their incomes decreased, their home values fell, and they lost their wealth. Even now as unemployment is low and the stock market booms, many middle-income Boomers say they haven’t felt the benefits of a recovery.

Today, Baby Boomers are redefining retirement in reaction to the financial crisis. Many Boomers are delaying retirement or are planning on relying on Social Security benefits as their primary source of retirement income. However, Social Security was never designed to fully replace one’s savings or wages.

Despite retirement challenges, almost all middle-income Boomers still believe they will retire someday. What makes them so optimistic even though they claim they …

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