Boomers Dine Out While Millennials Cut Back

[HiPointDem]

121. start with the part where you spin concentration of wealth as a generational rather than class

phenomenon & go from there.

disgusting.

Baby Boomer Poll By AARP Finds Half Don't Expect To Retire

What's more, half of Americans die broke, according to a recent study.

http://www.huffingtonpost.com/2012/08/08/baby-boomer-poll-aarp_n_1756781.html

High percentage of Boomers, Gen Xers not prepared for retirement

Nearly 22 percent of Baby Boomers and nearly 28 percent of Gen Xers have no retirement savings. Of those who have saved and indicated their savings levels, nearly 40 percent of Boomers and about two-thirds of Generation X have less than $100,000 saved for retirement, according to the IRI data.

http://www.benefitspro.com/2012/08/28/high-percentage-of-boomers-gen-xers-not-prepared-f

Using U.S. government data, the Employee Benefit Research Institute in Washington, D.C., found that between 1992 and 2007, the percentage of households with people in their mid-50s and older that were carrying housing and consumer debt rose from 53.8% to 63%. Further, for those aged 55 to 64, nearly 82% were carrying debt. The level of debt was higher, too. According to EBRI, the average overall debt for these 55-and-older households more than doubled (to $70,370) in that period.

5 reasons boomers will go bust

More than 60% of workers in a recent survey said they've lost confidence in their retirement plans since 2007, according to the Transamerica Center for Retirement Studies. The survey also found that more than half (54%) of workers in their 60s said they haven't saved enough to sustain themselves for the rest of their life.

A recent report from the Employee Benefit Research Institute (EBRI) found similar results. Just 14% of those surveyed were very confident they will have enough money to live comfortably in retirement. Even more shocking? Sixty percent of workers reported that the total value of their households' savings and investments (not including the value of their homes and any official retirement benefit plans) was less than $25,000.

http://money.msn.com/baby-boomers/5-reasons-boomers-will-go-bust-fiscaltimes.aspx