Which Generation Can Afford to Retire?

Which Generation Can Afford to Retire?

The oldest three groups should be OK in retirement, especially if the Early Boomers receive an inheritance. The Late Boomers and Gen-Xers will have a drastic reduction in lifestyle once they retire. Their situation could be substantially worse if Social Security only pays 77 percent of projected benefits in 2033, when the assets in the Social Security Trust Funds are depleted. The action steps are: earn more, save more, don’t lose money in investments, and retire later than planned.

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