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The Growing Risk of Baby Boomers and Retirement Affordability- Part 2
Posted: 06.20.2011 at 3:58 PM Updated: 06.23.2011 at 11:00 AM
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Read more: Economy, Retirement, Planning for Retirement, Baby Boomers, Baby Boomers Retirement, Baby Boomers Retirment Plan, Financial Advice, Money Advice, Money Matters, Retirement Resources, David Boike, How to Plan for Retirement, How do i Plan for Retirement, How much Money should i Save for Retirement, 401K, Investing, How to Invest, Investments, Money Matters
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More than half of those polled – 57% - reported that they have lost money in a retirement plan, personal investments or real estate during the recent economic downturn. Economic anxiety is taking its toll on the nest eggs of most baby boomers. Pensions, social security, and individual savings plans like 401(k)s are no longer secure enough to ensure a financially stable future. As a result, many are delaying retirement. Of those who lost money in the economic downturn, 42% say that loss has delayed their retirement.
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