Baby Boomers are Not Saving For Retirement (Infographic)

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When asked whether they have clear financial goals and milestones, 68% of Boomers said that they did. That's good, but he flip side isn't...

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Baby Boomers are Not Saving For Retirement (Infographic)

  1. 1. https://www.moneytips.com https://twitter.com/MoneyTipsSocial customercare@moneytips.com https://www.linkedin.com/company/moneytips-com http://moneytipssocial.tumblr.com/ https://www.pinterest.com/moneytipssocial https://www.facebook.com/pages/Moneytips/296272963835566 https://plus.google.com/+MoneytipsSocial/posts https://www.evolvesinc.com https://www.evolvesinc.com https://www.evolvesinc.com https://twitter.com/michaeldubrow1 www.moneytips.com https://twitter.com/MoneyTipsSocial customercare@moneytips.com www.linkedin.com/company/moneytips-com http://moneytipssocial.tumblr.com/ www.pinterest.com/moneytipssocial A personal finance community www.facebook.com/pages/Moneytips/296272963835566 https://plus.google.com/+MoneytipsSocial/posts For more information, Contact Michael Dubrow Principal, at @michaeldubrow1 Conducted by Evolve!, Inc. www.evolvesinc.com MILLION BOOMERS Are Worried About Retirement31 (Study) of boomers search online for answers to their financial planning questions. Their favorite online tools/sites for finding answers to financial questions: are worried about retirement are confident they will live comfortably in retirement 41%59% have not saved enough for their children’s education of those with children say their education fund is on target 48%52% do not have an estate plan have an up-to-date estate plan in place 51%49% are on target to meet their financial goals 59% are NOT saving enough to meet their financial goals 41% 44% are falling short of their goals are on target to meet financial milestones (wedding, home purchase, remodel, car) 42%58% believe they have the wrong financing in place who own homes have the right financing in place 34%66% are uncomfortable with their current standard of living are comfortable with their current standard of living 37%63% When asked whether they have clear financial goals and milestones, 68% of boomers said that they did. That's good, but the flip side isn't. Today, thirty one million baby boomers are worried or very worried about retirement and 24 million (32%) have no financial plan. Furthermore, among baby boomers who were surveyed: are not planning a vacation this summer are planning to go on vacation this summer 45%55% 49% 41% 24% 21% 21% 15% 65% of the 535 people surveyed said they would gladly join or consider joining a dedicated personal finance community where they could get answers to their personal finance questions from trusted financial planners, mortgage brokers and insurance agents, free of charge and with no sales pitches. 49% Search tools 41% Financial news sites 24% Newsletters 21% Financial planning sites 21% Online communities 15% Classes or seminars 65% Methodology: To better understand American’s financial health, personal finance community MoneyTips.com recently commissioned an online survey of 535 Americans ages 21-100. The multi-select survey was fielded April 24 – May 25, 2014. Margin of error for respondents ages 51+ is plus or minus 4.7 percent.

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