Born after 1955?

[SumDay]

I was, DH wasn't. I'll piggyback off him. As he would say, "So what's new?"

PLANSPONSOR.com - Early Boomers Last to Retire Comfortably

Early boomers, born between 1946 and 1955, may be the last group with enough savings to maintain financial security through their retirement, according to a study.



The study, “Retirement Security Across Generations: Are Americans Prepared for Their Golden Years?,” from Pew Charitable Trusts, examined the savings behavior of five age groups before the Great Recession. It also explored how wealth losses during the recession affected each group’s retirement security by calculating replacement rates, or how much annual pre-retirement income households will have available to spend after retirement.

 

[rbmrtn]

Hard to accept some of blanket generalizations.

While all generational groups had wealth losses in the Great Recession, Gen-Xers took the hardest hit.

I didn't loose any wealth. Really depends on what you did and what you invested in.

At the median, Gen-Xers will have enough resources to replace only about half of their pre-retirement income and late boomers will replace about 60%.

It's been said before, it's not about replacing your pre retirement income but about covering your expenses in retirement. Can be a lot difference in those two things.

 

[ls99]

1947. I'm in. Oh yeah, I'm already retired and comfortable.

 

[Midpack]

Wow, DW is going to be steamed. I'm an early boomer barely (last group) and she just missed, she's a late boomer...

 

[scrabbler1]

Not me. While I am technially a late boomer (born in 1963), I consider myself more like a Gen-Xer because my dad was not old enough to serve in WWII.

I have been retired for 4 1/2 years so I am plenty wealthy (including more wealthy than in late 2007) to cover my expenses. So I give the article a big raspberry LOL!

 

[seraphim]

Oh darn. I missed it by 19 days...