Is it any real surprise that boomers can't retire? At 27, I'm worried that I'm not putting enough into my retirement funds. I can't imagine waiting until 35-45 to start really thinking about where my retirement funds are going to come from, but apparently many baby boomers did just that. Worse, they had fewer children to support, more education, and greater access to jobs (a family could double its productive hours after the 1960's thanks to women entering the workforce in droves).
So what happened? Were they too busy buying consumer electronics, driving up the cost of home ownership with the housing pricing wars (increasing their % of wages on houses to buy into "good" neighborhoods with "good" schools) or going on vacations? Did they neglect their company retirement vehicles or embrace only the company match and fail to save other funds on their own?
What makes me go "hmm" is the fact that boomers nearing retirement are also less likely to be married. Is it at all surprising that you are not going to do well financially (or physically and emotionally) when you have decided to do it all on your own?
The big question is whether we, their children, are going to learn from watching their mistakes. Will we save for retirement, stay married (not divorce because we are bored or want a change of pace), and not rely on tax income to fuel our retirement (social security)?