Search
 

Boomers turning frugal, anticipating sparse retirement

Boomers got pinched by the Great Recession and many have not yet recovered financially.

By Marlene Y. Satter | Updated on April 19, 2017
Bankers Life finds that two thirds of boomers fear another financial crisis during their lifetimes. (Photo: Getty)

They’re expecting it, because of all they’ve endured during the Great Recession and its wake—a retirement that might not be all that comfortable. And they’re cutting back accordingly.

Boomers, according to a CBS Moneywatch report, have been feeling the pinch since the global financial crisis, and close to two thirds feel they personally have not thrived financially. The Bankers Life Center for a Secure Retirement study cited in the report finds that, among boomers who feel that way, more than half say that their savings are lower today than they were before the financial crisis.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.