The Myths About Baby Boomers and Retirement Savings
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In this video, Entrepreneur Network partner Phil Town details a handful of myths about Baby Boomers and the misconception that everyone in this cohort, born between 1946 and 1964, is prepared for retirement. Town also dives into some tips to help the Baby Boomers better prepare for life after a career of full-time work.
Town details the first myth that Baby Boomers all have plenty of money in retirement funds. Town says this is not true, citing a recent survey of Baby Boomers, which says that 30 percent of the group have zero dollars saved for retirement. Though many Baby Boomers have pensions and benefit from Social Security, these forms of retirement can be difficult to live on, as they are meant to supplement a larger pot of retirement savings.
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