- Few boomers have a defined benefit pension plan. Companies have slowly done away with pension plans, opting to offer 401k plans which puts the responsibility (and the liability) on the participant not the company
- Boomers cannot count on home equity. While home equity is likely to rebound to some extent, the days of home equity funding retirement are long gone.
- Interest rates are significantly lower than any time in recent history. Replacing income utilizing today's fixed income options will require five times what it took a generation ago
- Life expectancy has increased dramatically
- Health care costs have increased significantly
Check out the realistic retirement plan link for a quick and easy way to see where you are at currently.