US. Retirement Planning: Boomers Navigate Impact of Financial Crisis
According to a new study, only two percent of middle-income Baby Boomers feel the economy has fully recovered from the financial crisis that began in 2007.
The survey, “10 Years After the Crisis: Middle-Income Boomers Rebounding But Not Recovered,” by Bankers Life Center for a Secure Retirement, finds that Boomers’ lack of trust in institutions has led to permanent financial impairment.
“[Before the Great Recession] Boomers had a clear vision of what a personally satisfying retirement looked like,” said Scott Goldberg, president of Bankers Life. “But today, many are realizing they will not be as financially independent in retirement as they once expected.”
Goldberg discussed with Fox Business how Boomers have struggled during the slow recovery to rebound financially, and how most have readjusted their retirement expectations to meet their new reality.
Full Content: Fox Business
