Most Americans Turning 65 Between 2024 and 2030 Aren't Financially Prepared for Retirement. Do This if You Fall Into That Category
In the coming years, the U.S. workforce will undergo a pretty notable shift as baby boomers retire in droves. During the period from 2024 to 2030, an estimated 30.4 million Americans will reach the age of 65, an age often associated with retirement. And while, in one regard, that could open up opportunities for younger members of the labor force, it could also be the beginning of a major financial crisis among older folks.
More than half of Americans turning 65 between 2024 and 2030 (52.5%) have assets of $250,000 or less, according to a study commissioned by the ALI Retirement Income Institute. This means that many near-retirees are at risk of depleting their savings in their lifetime or otherwise struggling financially.
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Source Fool.com
