This paper provides new evidence on the adequacy of boomers' retirement resources using the Urban Institute's DYNASIM model. Our findings, which show that boomers will be wealthier at retirement than previous generations, are more optimistic than those of some other studies that have assessed the adequacy of retirement savings. A key difference between DYNASIM projections and other estimates is that DYNASIM projects a broader measure of income that includes Social Security and private pension benefits, as well as earnings and income from assets. Even with this more comprehensive income measure, our results suggest that boomers need to increase their savings or work longer to maintain their real living standards.
To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.