💰45% of baby boomers have no retirement savings, and 28% have less than $100,000 saved.
📉The three-legged stool of retirement (savings, Social Security, pensions) is becoming unreliable.
🏢Pensions have been replaced with 401(k) plans, which have high fees and may not perform well in the market.
🏥Health care costs, including long-term care, pose a significant financial burden for retirees.
🔒Limited options for financial security exist, with many baby boomers facing a retirement crisis.
How many baby boomers have no retirement savings?
—45% of baby boomers have no retirement savings.
What percentage of baby boomers have less than $100,000 saved?
—28% of baby boomers have less than $100,000 saved.
Why are pensions becoming unreliable?
—Pensions have been replaced with 401(k) plans, which have high fees and may not perform well in the market.
What is the financial burden of health care costs in retirement?
—Health care costs, including long-term care, pose a significant financial burden for retirees.
What options do baby boomers have for financial security?
—Baby boomers have limited options for financial security, with many facing a retirement crisis.
00:00Despite being the wealthiest generation, many baby boomers have no retirement savings and face the risk of homelessness.
03:40The three-legged stool of retirement—savings, Social Security, and pensions—is no longer reliable.
06:48Pensions have been replaced with 401(k) plans, which come with high fees and market risks.
09:56Health care costs, including long-term care, pose a significant financial burden for retirees.
12:38Baby boomers are facing a retirement crisis with limited options for financial security.
