Although 59% of baby boomers believe retirement will hold "the best years of their lives," 47% will continue to work into their golden years because of inadequate retirement savings, according to a recent survey by Allstate Financial. In all, 71% of boomers intend to continue working, with some of those doing so for social contact or to simply keep busy.

"Ultimately, Baby Boomers may end up facing [the] uncomfortable reality that they could fall short of their retirement savings goals," said Tom Wilson, president of Allstate. Overall, 53% of survey respondents expressed concern over saving enough for retirement.

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