Boomers, Save Now, Don't Delay

Current seniors are healthier and wealthier than in the past. In Forbes.

But Baby Boomers may be healthier, but not wealthier, unless they provide for their own retirement.

Age 45, no house, no savings. Ben Stein:

She stared at me incredulously. "Do you think I'm going to work another 20 years?" she asked. "No way."

"Well, then what are you going to live on when you stop work?"

"Social Security," she answered.

"That won't kick in until you're 66 or 67," I said, "and it won't be more than a pittance by then."

Boomers who haven't saved have got to do it now:

And the part that makes it especially relevant is this: The Baby Boomers are the single largest part of the population by generations. They're about 78 million men and women. They will need a staggering sum to maintain their lifestyles after retirement, especially with pension systems that promise defined benefits collapsing.

But the Baby Boom generation is pitifully unprepared for the future. The average savings for Baby Boom households is less than $50,000, not including their homes. Even including the equity in their homes, it's not much over $100,000. And roughly half of all boomer households have either little retirement savings or none.