The
Baby
Boomer
Syndrome
Finding
A
Suitable
Replacement
Income
For
The
Mass
Amounts
Of
Baby
Boomers
Who
Are
Reaching
Retirement
Age
Without
A
Reasonable
Level
Of
Retirement
Income
According
to
the
U.S.
Census
Bureau,
there
are
over
78
million
Baby
Boomers
that
consist
of
a
group
of
people
born
between
1946
and
1964.
That
currently
makes
Baby
Boomers
the
largest
generation
in
today's
workforce,
and
as
they
start
to
retire
over
the
next
decade,
they
will
be
faced
with
the
daunting
task
of
maintaining
their
pre-retirement
lifestyle.
Compared
with
what
previous
generations
faced
as
they
closed
in
on
retirement
age,
Baby
Boomers
typically
have
higher
income,
and
have
accumulated
more
wealth
to
help
with
their
retirement.
Overall,
a
percentage
of
Baby
Boomers
will
have
a
higher
income
in
retirement
than
their
parents
had,
and
they
are
much
less
likely
to
live
in
poverty
after
they
retire.
While
this
is
true
for
some,
there
are
many
who
still
enjoy
this
higher
income,
but
have
not
prepared
well
in
terms
of
savings
for
the
years
to
come.
This
group
continues
to
live
a
nice
lifestyle
while
taking
advantage
of
life's
luxuries,
but
has
not
saved
anything
that
will
allow
them
to
continue
this
life
and
lifestyle
into
retirement.
There
is
a
whole
group
of
others
who
have
worked
hard
all
their
lives,
but
lack
of
job
security
and
other
circumstances
have
forced
them
to
live
from
paycheck
to
paycheck,
not
having
the
means
to
retire
at
all.
The
evidence
is
clearly
showing
that
Baby
boomers
will
not
be
able
to
count
on
what
was
previously
considered
retirement
security.
Private-sector
pensions
and
personal
savings
are
no
longer
adequate
to
ensure
that
most
Americans
will
have
enough
to
live
on
when
then
retire.
In
addition,
people
live
much
longer
today
than
they
did
in
the
past,
and
as
a
result,
they
need
more
money
to
secure
their
retirement
years.
Spending
thirty
years
in
retirement
is
not
out
of
the
question
anymore,
and
with
that
longevity,
retirees
are
faced
with
the
very
real
risk
of
actually
outliving
their
retirement
assets.
How
Much
Income
Do
You
Need
to
Retire?
Understanding
how
much
income
one
is
going
to
need
is
a
difficult
task,
and
expectations
are
very
different
today
than
they
were
for
previous
generations.
Financial
experts
used
to
say
that
the
goal
was
to
be
able
to
replace
somewhere
between
60-80
percent
of
one's
pre-retirement
income.
The
reason
for
that
number
was
the
assumption
that
expenses
would
go
down
after
retirement,
but
that
is
not
necessarily
the
case
any
more
in
this
day
and
age.
People
have
a
different
vision
of
retirement
today,
and
that
vision
does
not
include
the
end
of
having
fun
while
living
a
productive
life.
Retirees
want
to
live
a
lifestyle
of
their
dreams,
do
exciting
things
including
travel,
and
be
able
to
handle
the
high
costs
of
housing,
health
care
and
long-term
care
as
it
becomes
more
necessary.
In
reality,
many
Baby
Boomers
will
not
be
able
to
afford
to
retire,
but
they
will
not
be
able
to
continue
working
productively
either.
They
will
be
forced
to
fall
below
the
poverty
line
as
they
are
faced
with
financial
insecurity
combined
with
poorer
health
in
their
"golden"
years.
According
to
Benjamin
Stein
of
the
National
Retirement
Planning
Coalition,
"Tens
of
millions
of
Americans
are
seriously
underprepared
to
meet
their
financial
needs
in
retirement."
As
many
as
40
percent
of
Americans
have
saved
almost
nothing
for
retirement.
So,
if
you
are
a
Baby
Boomer
nearing
retirement,
and
you
don't
see
where
your
retirement
income
is
going
to
come
from,
then
it
is
time
to
take
action
before
it
is
too
late.
Your
future
