Study Says Lower-Income Gen Xers, Baby Boomers Will Run Out of Money in Retirement

Recent research showed that baby boomers and Generation Xers who are in the lower income brackets are more likely to fall short of their retirement goals, which will leave them lacking enough money to live on. Researchers at Northwestern Mutual Planning & Progress found that that some people may run out of funds within their first year of retiring, and that 22% of Americans have less than $5,000 saved for retirement. Even some people who fell in the highest income brackets would likely run out of money at some point during retirement. The outlook for many of their futures remains…

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