Baby Boomers are Not Saving For Retirement (Infographic)

1. 31 MILLION BOOMERS Are Worried About Retirement (Study) 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: 63% 37% 59% 41% are on target to meet their financial goals are NOT saving enough to meet their financial goals are comfortable with their current standard of living are uncomfortable with their current standard of living 58% 42% 59% 41% 66% 34% are confident they will live comfortably in retirement are worried about retirement who own homes have the right financing in place believe they have the wrong financing in place are on target to meet financial milestones (wedding, home purchase, remodel, car) are falling short of their goals 55% 45% 52% 48% 49% 51% are planning to go on vacation this summer are not planning a vacation this summer of those with children say their education fund is on target 44% have not saved enough for their children’s education have an up-to-date estate plan in place do not have an estate plan of boomers search online for answers to their financial planning questions. Their favorite online tools/sites for finding answers to financial questions: 49% 41% 24% 21% 21% 15% 49% Search tools 41% Financial news sites 24% Newsletters 21% Financial planning sites 21% Online communities 15% Classes or seminars 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. 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. https://www.moneytips.com www.moneytips.com https://www.facebook.com/pages/Moneytips/296272963835566 www.facebook.com/pages/Moneytips/296272963835566 https://www.pinterest.com/moneytipssocial www.pinterest.com/moneytipssocial https://www.linkedin.com/company/moneytips-com www.linkedin.com/company/moneytips-com https://www.evolvesinc.com https://www.evolvesinc.com A personal finance community https://twitter.com/MoneyTipsSocial https://twitter.com/MoneyTipsSocial http://moneytipssocial.tumblr.com/ http://moneytipssocial.tumblr.com/ https://plus.google.com/+MoneytipsSocial/posts https://plus.google.com/+MoneytipsSocial/posts customercare@moneytips.com customercare@moneytips.com For more information, Contact Michael Dubrow Principal, Conducted by Evolve!, Inc. https://www.evolvesinc.com www.evolvesinc.com https://twitter.com/michaeldubrow1 at @michaeldubrow1