Income Diversity Across Generations
The Bureau of Labor Statistics just released info that shows how each generation makes its income. This new tool makes it easy to see just how much Social Security affects each generation, and it comes as no surprise that the older generations are affected the most. Baby Boomers are still by and large getting the most of their income through employment, either self or otherwise, but this is slated to change in the next few years as more and more enter in to retirement. Baby Boomers are currently the second highest earners in the labor force, and as they enter in to retirement and start collecting on Social Security benefits it is hard to see where all the extra money is going to come from. For more information on this subject visit this article by Brian Stoffel with The Motley Fool.
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