Tag: retirement wealth

Senior couple reading documents and calculating bills

Late Boomers have low levels of wealth regardless of how it is defined – total wealth, retirement wealth, or 401(k)/IRA wealth.  A decline in some wealth components had been expected as a result of the rise in Social Security’s Full Retirement Age, the shift from defined benefit (DB) to defined contribution (DC) plans, and a…

Older woman sitting at a table in front of the monitor adjusting glasses with her hand in the office

Due to changes in the retirement landscape in recent decades, Late Boomers (who are now nearing retirement) would be expected to have less wealth from traditional pensions, Social Security, and housing, but higher 401(k)/IRA assets compared to Mid Boomers at the same age.  Strikingly, though, Late Boomers have seen a drop in their 401(k)/IRA assets…