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Baby Boomers Unprepared for Retirement

This is a news story, published by Yahoo Finance, that relates primarily to Federal Reserve news.

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Moneywise

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Business & Economics

Many baby boomers are unprepared for retirement — but here are 3 things the savviest of them do to get ahead

Moneywise

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66% Informative

Federal Reserve reports median retirement savings of $ 185,000 for Americans aged 55 to 64 as of 2022 .

Among Americans ages 65 to 74, the number increases to $ 200,000 .

Boomers that are financially stable continue to invest, and they don’t completely withdraw from the stock market out of fear.

CDs are another smart option for boomers to consider for their investments.

For those who are still working, IRAs and 401(k)s make sense.

There are no age limits for making your annual contributions, so boomers can fund them as long as they’re still working and earning money.

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