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Babyboomers' Finances

August 2nd, 2013 at 09:23 pm

Text is http://www.zerohedge.com/news/2013-07-28/35-facts-scare-baby-boomer and Link is

This article, which links to sources that may or may not be genuine or accurate*, makes quite a few interesting statements.

I don't know how true it is, but I don't doubt the vast majority of the statements. Some of them that give one pause for thought:

2. According to one recent poll, 25 percent of all Americans in the 46 to 64-year-old age bracket have no retirement savings at all.

8. Today, one out of every six elderly Americans lives below the federal poverty line.

13. A poll conducted by CESI Debt Solutions found that 56 percent of American retirees still had outstanding debts when they retired.

34. According to a recent survey conducted by Americans for Secure Retirement, 88 percent of all Americans are worried about "maintaining a comfortable standard of living in retirement".

That last one is at least a little bit encouraging. At least most people are aware that something is wrong. Maybe a few of them might actually do something about it.

* I didn't check the linked sources and I'm not vouching for the accuracy of any of the items listed in the linked article itself.

3 Responses to “Babyboomers' Finances”

  1. PatientSaver Says:

    I've heard/read similar findings.

  2. Buendia Says:

    I've heard some of these statistics - frightening! It's even frightening for those of us who HAVE saved because what are we going to do with this huge concentration of people who have nothing to fall back on? I have also heard that the group younger than this (that would be me and my husband) are even worse off as far as savings go... Sometimes I wonder when I see the fancy cars up at school if they can really afford those cars?

  3. rob62521 Says:

    I think many of these stats are true. My folks lived below the poverty line. It wasn't because they didn't work, because they did until their bodies gave out. As for the majority of not having retirement savings...I'd say that was spot on as well. Some of our friends who are considered "highly educated" and who made good money when employed, have little to nothing, expecting Social Security and/or their pensions to carry everything. It is downright frightening!

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