Older couple sitting at a table looking at laptop screen paying bills online

What Happened to Late Boomers’ Retirement Wealth?

Issue Brief by Anqi Chen, Alicia H. Munnell, and Laura D. Quinby

August 1, 2023

The brief’s key findings are: Late Boomers have less retirement wealth than earlier cohorts, including surprisingly low 401(k) assets. To explain this drop, the analysis explored both changing demographics and labor market experiences. The results show that part of the drop is due to a decline in the share of Late Boomers who are White, married, and…

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

Why Do Late Boomers Have So Little Wealth and How Will Early Gen-Xers Fare?

Working Paper by Anqi Chen, Alicia H. Munnell, and Laura D. Quinby

May 3, 2023

Abstract 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…