I read an interesting article last week about a study that looked into the decline in wealth for Late Boomers and explored what may have contributed to it. “The results show that two factors were at play – a shift in the population towards lower-wealth households and, more importantly, a weakening of the link between work and wealth accumulation.” This brings to light the need to examine alternative sources of income in that most individuals use their accumulated savings to fund retirement income, and if work is having an impact on that accumulation, it might behoove us to examine different ways to ensure that what we are able to save will in fact generate an income we can’t outlive. Call us. We have some ideas you may not have thought of. We’re always here to help.
https://crr.bc.edu/what-happened-to-late-boomers-retirement-wealth/