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 average expected Social Security benefit for these “peak boomers” is about $22,000 a year. But the average household run by an American older than 65 spends more than $4,000 a month—nearly $50,000 a year. The math doesn’t work.
This financial reality has given rise to a new phenomenon: “unretiring.” Research from Standard Life found that 14% of baby boomers and late Gen Xers have already returned to work after retiring, and another 4% are considering it. Among men over 55, nearly 25% plan to return to their careers because their retirement income is no longer sufficient to support their lifestyle.
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