can we ever retire?
The 'Peak Boomer' Crisis Might Only Get Worse: A Fifth Of Americans 50 And Up Have No Retirement Savings
Many Americans headed toward retirement don't have the funds. It could contribute to the peak boomer crisis.
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The Lede
There's a generation of older Americans who don't feel confident in their financial situation. It means the retirement crisis could get worse.
Key Details
- One in five older Americans surveyed by AARP reported having no retirement savings, and over half of them do not think they'll have enough money to keep them afloat in retirement.
- Inflation is straining their finances even more — according to the survey results, 37% of aged 50 and older respondents were worried about affording basic expenses.
- The new data comes as the country is gearing up for an onslaught of retiring "peak boomers," who are Americans born between 1959 and 1964.
