Social Security Dropping
Recent studies show that for the last 10 years while the market was going up, up, up with no end in sight, and the boomers were not right on the door step of age 61 to be retired. They were in the 50s. They didn't feel any anxiousness in any way, shape or form. Recently, the very first boomer filed for Social Security a week ago. Now, they are all starting to show some anxiety about their retirement. Will they be able to have the same kind of income and etc.?
Statistics by Boston's College Center of Retirement research shows that 43% of all households are at risk of being unable to maintain a current standard of living at retirement. So given that, this study shows that while today it is 43%, soon within the next 10 years that will grow to be much higher. In fact, it will be almost as high as 60% when it comes down to generation X, those who were born in the 60s. This shows a dramatic problem will begin because of Social Security perhaps not being there, and people not having near enough money in terms of retirement.