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Baby Boomer Blues

BOOMERS TRYING TO STAY AFLOAT

The first wave of baby boomers is drifting toward retirement, but many boomers are ill-prepared for the financial rapids that await them.
Ref. https://deseretnews.com/dn/view/1%2C1249%2C...99894%2C00.html

Blues Boomer Baby

I am not a baby boomer, but I have talked with my parents about this very subject. My father was lucky enough to get on with a company that matched his 401k up to 15%. But before, they had taken out a bunch of there retirement money to pay off credit card bills and car loans. Unfortunately, they ended up taking out another mortgage on the house and didn't have much to put down when they bought their second house. They will be eighty before this current house will be paid off and seventy-two before my father and mother can retire. I have taken pains to start my 401k very early on. I have been putting into it for over five years. My parents have worked hard to impart the idea of preparing for retirement because they didn't prepare very well. I wonder how many other baby boomers have not prepared and now find themselves a few years from retirement with little or no savings left.