AARP Blog: Recession Will Haunt Us Into Retirement
Older boomers, many at retirement’s doorstep, lost more than quarter of their net worth during the recession. Yet they may be the last demographic to retire with enough savings to live comfortably, according to a new study.
Younger boomers (in their late 40s and 50s), and Gen-Xers (in their late 30s and early 40s) are on track to retire with skimpier savings. Consequently, they’re likely to face a pared-down lifestyle in retirement.
The study, "Retirement Security Across Generations: Are Americans Prepared for Their Golden Years?", was done by the Pew Charitable Trusts to examine how the recession affected the wealth and retirement security of boomers compared with other age groups.
Read the full article at blog.aarp.org.