Baby Boomers' Retirement Woes Summed Up in 5 Statistics -- The Motley Fool
The game is ride the gravy train, and hope for the best. Here is the Boomer plan in a nutshell:
1. 45% have no retirement savings
2. 59% relying heavily on Social Security
3. 30% stopped contributing to retirement accounts
4. 44% are lugging around debt
5. 30% postponed their retirement plans
OK, so the last one is a return to rational, but one out of 5 is terrible.
There will be payback for all of this, and the Boomers are not ready for it.