Retirement Essentials for Boomers

No question about it, even the “me generation” baby boomers have to face the facts.

They are becoming senior citizens!

That transition is bringing another major reality shift. Increasing numbers of boomers are moving from the accumulation phase of their savings to what’s known as the distribution phase. They have to spend what they have saved, earned and possibly inherited to fund their retirement.

It’s a daunting challenge, especially in the midst of recent market turmoil when portfolio values are under pressure.

There are an estimated 76 million baby boomers in the U.S., born between 1946 and 1964 and now ranging between 69 and 51 years of age. They represent about 25% of the U.S. population and about 68% of them are still in the workforce. And according to a Gallup poll many of them are reluctant to retire.

Nearly half of boomers still working say they don’t expect to retire until they are 66 or older. That compares to the average retirement age of 61 among current retirees.

Plus, one in ten boomers predicts they will never retire. Concerns about money play a significant role in the boomer’s plans to postpone retirement.
WEALTHTRACK #1211 Broadcast on September 4, 2015
More Info: https://wealthtrack.com/franklin-retirement-essentials/

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