Boomers stand to draw down on their retirement savings faster because of their reliance on defined contribution plans. Baby boomers seem to be overestimating how long their retirement savings will last — or maybe underestimating how long they’ll live. New research from the Center for Retirement Research at Boston College found that Boomers may be drawing down their retirement wealth faster than previous generations, because they lack the widespread access to pensions that older generations enjoyed. Using data from the University of Michigan’s Health and Retirement Study, CRR researchers determined the more annuitized resources retirees have at their disposal, […]
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