Older Baby Boomers appear to be doing a better job of preparing for retirement than younger Boomers, though both groups are sorely underprepared for their golden years,
Forty-six percent of those age 62 or older say they are comfortable with what they have saved for retirement, but only 57% of the youngest Boomers, those age 45, are. To cope with the shortfall, those born in 1946, about 2.7 million Americans, have delayed collecting Social Security and fully retiring. A full two-thirds of this group is still working, half of them full-time.
A sign that they are in denial about what their retirement years might be like, the youngest Boomers, the 4.5 million Americans born in 1964, think of themselves as Generation X and would like to retire by age 64.
Our conclusion from this data is that the oldest Boomers are behind in their savings, and many are delaying both Social Security and retirement, said Sandra Timmermann, director of the