Wednesday, August 09, 2006
Boomers Retiring Not So Rich
As the baby boomer generation reaches retirement age, many are facing the harsh reality of a less-than-cushy nest egg. Some put their kids through college at the expense of long-term savings. Others simply didn't save enough.
Indeed, the 78 million Americans born between 1946 and 1964 are on track to replace about 60 percent of their annual incomes after retirement, according to the Fidelity Retirement Index. The national survey by Boston-based mutual fund giant Fidelity Investments also found that boomers set aside an average 4 percent of annual income. So much for maintaining their current standards of living.
Boomers Retiring Not So Rich
Source: Bankrate.com
Indeed, the 78 million Americans born between 1946 and 1964 are on track to replace about 60 percent of their annual incomes after retirement, according to the Fidelity Retirement Index. The national survey by Boston-based mutual fund giant Fidelity Investments also found that boomers set aside an average 4 percent of annual income. So much for maintaining their current standards of living.
Boomers Retiring Not So Rich
Source: Bankrate.com
Permalink posted by armandn @ 7:36 AM 
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