“Majority of Gen X, baby boomers anticipate needing at least as much in retirement as current earnings”

“Majority of Gen X, baby boomers anticipate needing at least as much in retirement as current earnings,” by Kathleen Steele Gaivin, McKnights Senior Living

“Almost 60% of workers who were born before 1980 and are still working who participated in a recent survey said they expect that they will need at least as much money in retirement as they make every month now if they are to be comfortable in retirement. … As the youngest baby boomers turn 60 by the end of the year, the specter of potentially needing long-term care is looming. Baby boomer respondents listed long-term care concerns among their top three retirement concerns, more so than any other generation. In addition to wondering how much money they will need to retire comfortably and worrying about long-term care needs, responding baby boomers also said they were concerned about outliving their retirement savings.”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

If the populace is so worried about retirement savings and long-term care—as this latest in a long series of similar studies states—why aren’t people lining up to buy LTC insurance? That’s the key question hardly anyone asks. But we did. For the answer, read the Paragon Health Institute’s “Long-Term Care: The Problem” and “Long-Term Care: The Solution” and watch this “virtual LTC event” featuring age wave visionary Ken Dychtwald and leading LTC researchers. To find private funds for LTC, check out Medicaid’s $100+ Billion Leak.