One-third of baby boomers had nothing saved for retirement at age 58.
Key Points
Among boomers with positive balances, the median savings was around $200,000. Experts have said people may need a nest eggThere are currently more than 70 million baby boomers — the generation defined by people born between 1946 and 1964 — in the United StatesThat many people could exit the workforce unprepared, the researchers note, could have profound consequences for the well-being of these individuals and society.
Debt is yet another problem for baby boomers. On average, they're more than $110,000 in the red, a burden more than 50 percent higher than the amount carried by people born in the 1930s.
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