Unfortunately, the market gains only help if you own stocks. About 48% of Americans age 55 and older have no retirement accounts (401K nor IRA). If you exclude those that have pensions, then 29% of these older Americans have neither pension, 401K or IRA account.
With 10K boomers retiring each day (actually turning 65 which is the standard age for retirement), the road ahead will be rougher and require a big adjustment. This is the first generation to face saving for retirement on their own.
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