You're not the lone investor.
If you've socked much of your money away in real estate and mutual funds, you're not alone, according to the fourth annual Equitable Nest Egg Study.
The national telephone survey of 600 baby boomers with household incomes of at least $50,000 found that, excluding retirement plans and IRAs, 81 percent had invested in real estate, and 61 percent put money in stock mutual funds.
Real estate made up an average of 45 percent of respondents' investment portfolios; 20 percent was in stock mutual funds and 16 percent in cash accounts. The remaining assets were scattered among other investments such as individual stocks, bond mutual funds, annuities and cash value life insurance.
While boomers say they want to have more money for retirement ($1 million in 1996 vs. $928,000 in 1995), the study found they are saving less (an average of $5,000 a year in 1996 compared with $6,000 in 1995 and 1994).
Equitable Life vice president of communications Jane Mahoney speculates many of the boomers have diverted their savings to help pay for their children's college educations. This ties in directly with one of the study's findings: Boomers are more concerned about paying for their children's education than about investing for a financially independent retirement.