ith retirement approaching, 26% of baby boomers expected to live very comfortably and others (29%) said they’d meet expenses with a little left over. The remaining 41% foresaw either just meeting their basic living expenses or not having enough even for that.
What retirement income were they all banking on? Almost half (49%) had 401(k) and IRA savings, and 40% are counting on Social Security or employer pension plans. The remaining 11% either had other savings or didn’t know.
Source: Pew Research Center survey of 968 respondents, age 41 to 59, http://pewresearch.org , 2006.