Will Baby Boomers Save You?

William F. Hauge

The new wave of Baby Boomers are now facing new dilemmas never before considered in the equation. As Americans continue to live longer, the longevity factor has already begun to "squeeze" the financial resources of the pending baby boomers.

A Pew Research Center poll indicates Baby Boomer financial pressures range from taking care of adult children to assisting with elderly parents who require support. With over two-thirds of boomers working to pay for college tuition costs, nearly half of the boomers already retired indicate that their single biggest source of income is Social Security.

A reasonable guess is the first Baby Boomers to retire will be financially better off than the later ones.They've had better jobs and more time to accumulate capital.