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Retirement Goals and Reality–A Grim Picture for Many
A significant slice of the Baby Boom Generation is way behind the curve in terms of saving for retirement, according to a newly-released study from Credit Karma. The financial services firm reports that, according to its survey, “… (a)bout 27% of people who are 59 or older have no retirement savings,” a quote in a Mineywatch post by Aimee Picchi appearing on cbsnews.com. Ms. Picchi’s post also observes that, as a result of their lag in savings, many of the folks in this cohort are likely to extend their time in the workplace rather than seek an early exit. In fact, on this specific point, Ms. Picchi quotes Dave Goodsell, executive director at the Natixis Center for Investor Insight, noting that “… boomers now project their retirement age at 70” as a result where they are now in relation to their projected cash needs in retirement. Check out Ms. Picchi’s Post here…
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