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You’re Retirement Age With Nothing Saved For Retirement. Now What?
Imagine that you’re 55 or 60 years old with nothing saved for your golden years. Oh wait, that’s roughly four out of 10 Baby Boomers now. New research from the Insured Retirement Institute found that only 60% of Boomers have socked away any money for retirement, down from 80% in past years. And only one out of five Boomers has $250,000 or more saved. The best part is that four out of 10 of those Boomers with less than $250,000 in savings think they’ll be able to handle all of their basic expenses in retirement—with room for travel and other hobbies. Here’s news: That’s not likely. Read more…