Filed Under:Life Insurance, Life Planning Strategies

Baby Boomers are House Rich, Savings Poor

Photo credit: ponsulak
Photo credit: ponsulak

If baby boomers have not saved enough for retirement, they need only look at the house they live in. According to a study by National Center for Policy Analysis (NCPA), baby boomers are carrying heavy mortgage debt as they enter their golden years.

In “How Are Baby Boomers Spending Their Money?,” NCPA senior fellow Pamela Villarreal compared the pre-retirement spending habits of today’s middle-aged workers (those age 45 to 54) and older workers (ages 55 to 64) with those in the same age groups 20 years ago. Although real incomes for those age categories have changed very little, the portion of disposable income households spent on certain goods and services has increased.

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Nichole Morford

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