Tag: baby boomers
Introduction The fact that American households have debt is not a surprise: credit cards finance our purchases, car loans pay for our wheels, student loans help us with tuitions, and mortgages buy our homes. Yet the size of the debt can seem shocking. The aggregate burden runs to nearly $10 trillion, nearly twice what it…
Abstract The aim of this paper is to compare baby boomer retirees with previous generations on their overall level, distribution, and composition of family income and on the adequacy of this income in maintaining their economic well- being in retirement. To do this we use projections of retirement income from the Social Security Administration’s Modeling…