Why Gen Z Struggles to Climb the Ladder While Boomers Can’t Seem to Get Off It—And What It Means for Your Financial Future
The Boomer Trap: Too Old to Hire, Too Poor to Retire
On the other end of the age spectrum, baby boomers are facing their own set of challenges. The most significant wave of Americans in history is hitting retirement age, but most can’t afford to stop working.
According to the Alliance for Lifetime Income’s Peak Boomer Impact Study, two-thirds of Americans turning 65 between 2024 and 2030 are not financially prepared for retirement. More than half—52.5%—have less than $250,000 in retirement assets and will have to rely primarily on Social Security as their primary income source.
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