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Regardless of Age, 'Boomers' Aren't Saving Enough

TMCnet.com, 3/1/09

Abstract:

(New Haven Register (New Haven, CT) Via Acquire Media NewsEdge) Mar. 1--Baby boomers span a large age range, with the oldest turning 63 this year and the youngest turning 45, but regardless of age few boomers are saving as much for retirement as they had hoped to and some are delaying Social Security collections, according to a new MetLife study.
The study, called "Boomer Bookends: Insights into the Oldest and Youngest Boomers," found that of those born in 1946, 2.7 million Americans -- about 20 percent -- have delayed collecting Social Security and just 19 percent have retired.

Of those older baby boomers, 13 percent feel they have saved fully for their retirement while an additional 25 percent say they are on track to do so. About two-thirds of the oldest boomers remain in the work force and 50 percent of those work full-time...

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