A study from the Center For Retirement Research looked into the decline in wealth for late boomers, and explored what may have contributed to it: “The results show that two factors were at play – a shift in the population towards lower-wealth households and, more importantly, a weakening of the link between work and wealth accumulation.”
This brings to light the need to examine alternative sources of income. Most individuals use their accumulated savings to fund retirement income, and if work is having an impact on that accumulation, it might require us to examine different savings options. Call us. We have some ideas you may not have thought of. We’re always here to help.