Boomers Underprepared for Retirement
A recent study has shown that as much as 40% of Baby Boomers are ill-prepared for retirement. Most Boomers are quickly approaching retirement age and do not have time to recover from set backs. These Boomers are only expected to have Social Security cover 40% of their total living expenses, with the rest to be made up from personal savings. These people that have slacked in their savings and investments will have to severely cut back on their quality of life and still may not be able to scrape by on Social Security alone. For more reading on this topic, visit this article by Sean Williams with The Motley Fool.