Monday, June 27, 2011

Boomer Women

Much has been made of the baby boom generation as they approach retirement. The Raleigh News & Observer takes a look at Boomer women in particular. The entire article is worth a read.

The crux of the matter? Many in the demographic never prepared for retirement and never thought they'd have to.

"Experts began years ago to predict this land mine for single women nearing retirement. The Federal Reserve Board found in 2001 that only a third of single women had any sort of retirement savings account; at the same time, fewer than 10 percent of single women had pensions through their jobs.

Now, the turbulent economy has turned those early warnings into full-scale alarms. Plans have been derailed for even the women who prepared. Some eye their retirement savings warily and wonder whether they will outlive the money they set aside for these years, a real possibility as their life expectancy stretched to age 85. Others are heading back to work."