Latest News
Boomers Struggling to Meet Retirement Quota
Baby Boomers have been struggling recently to reach their goal for retirement. The main problem that they face is a lack of adequate savings to support their retirement plan. Many Boomers are entering retirement relying on Social Security as their sole source of income. This is unsustainable as living wage, as it would leave most well below the poverty line without a supplemental source of income. As many as half of those nearing retirement age say they only have $100,000 saved, leaving them with $7,000 a year if used conservatively. This is leaving many putting retirement off and continuing work. For more information on this topic, visit this article by Core Hengst with Plan Adviser.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.