Brief Boomers' Retirement Income Prospects
Melissa M. Favreault, Richard W. Johnson, Karen E. Smith, Sheila R. Zedlewski
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The lackluster economy, eroding traditional pensions, and volatile stock market suggest that baby boomers - those born between 1945 and 1965 - face increasingly uncertain retirements. Our projections show that lower - and moderate-income boomers will continue to rely on Social Security for most of their retirement income. While the projections reflect some good news - women will reap the rewards of working and earning more than previous generations - they also raise alarms. Between 30 and 40 percent of boomers will not have enough income at age 70 to replace 75 percent of their preretirement earnings, a common standard for measuring retirement income adequacy.
Research Areas Economic mobility and inequality Aging and retirement
Tags Social Security Economic well-being Pensions Income and wealth distribution Retirement policy
Policy Centers Income and Benefits Policy Center