You have to read to the midsection or botton to see why: many boomers started too late with too little. Vanguard now recommends 15% be set aside for retirement. Also, I'm not sure who came up with that idea that retirement life requires less than your working life. It's very expensive to do the things you waited all your life to do--or in my case, didn't know you wanted to do until you got there. And no, you can't retire early if you are paying off your kids college loans, got a divorce in mid-life, still have a mortgage, or you want to go out to eat a lot and travel more. Increase your savings, decrease your want list.
Boomers Find 401(k) Plans Come Up Short - WSJ.com
Monday, February 21, 2011
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