Boomers' Financial Insecurity: A Strain on America's Wealth and Power Dynamics
A significant number of Baby Boomers, approximately 30 million, are reaching the age of 65 between 2024 and 2030. Despite expectations of a comfortable retirement, many are financially unprepared, with two-thirds unable to maintain their pre-retirement lifestyles. According to economist Jason Fichtner and colleagues at the ALI Retirement Income Institute, more than half of these individuals have $250,000 or less in retirement savings. This financial insecurity is compounded by potential health shocks, market downturns, and long-term care needs, forcing many Boomers to rely heavily on Social Security and continued employment. The situation is exacerbated by the fact that many Boomers are living longer than anticipated, creating a mismatch between their financial resources and lifespan. 
