(This is nuts. It takes at least $1 million to retire today. I think an awful lot of older people will soon be living on the street. - De)
December 2, 2022
Here's how much the typical baby boomer has saved for retirement — how do you stack up right now?
by Brian J. O’Connor
Finance.Yahoo.com
Here's how much the typical baby boomer has saved for retirement — how do you stack up right now?
The 71.6 million men and women of the postwar baby-boom generation started hitting retirement age eight years ago. But it’ll be another dozen years before the whole generation has reached its full retirement age.
So just how is retirement shaping up for the generation that went from Woodstock and Watergate to iPhones and Instagram?
A new survey from the Transamerica Center for Retirement Studies estimates that the median retirement savings of boomers totals $202,000. That might sound like a respectable amount of cash, but that produces just $8,080 a year, or $673 a month.
In many cases, that money gets nibbled away by income tax, too. With that in mind, here are three proven strategies baby boomers might want to seriously consider to bolster their retirement nest eggs.
http://finance.yahoo.com/news/heres-much-typical-baby-boomer-110000774.html
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