In the wake of a stock market and home price collapse, most boomers are not prepared for the future. Let's explore that idea with a look at Is the Future Going Down the Drain? Baby Boomers Going Bust.
“In the last few months we've experienced explosive growth in interest by homeowners age 50-plus to find rooms and roommates,”
This paper makes projections of wealth for 2009 for the baby boom cohorts (ages 45 to 54 and ages 55-64) using data from the 2004 Survey of Consumer Finance.
Boomers will be competing with their children and grandchildren for jobs that in many cases do not pay living wages.