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Why Do Late Boomers Have So Little Wealth and How Will Early Gen-Xers Fare?

Author

Listed:
  • Anqi Chen
  • Alicia H. Munnell
  • Laura D. Quinby

Abstract

Due to changes in the retirement landscape in recent decades, Late Boomers (who are now nearing retirement) would be expected to have less wealth from traditional pensions, Social Security, and housing, but higher 401(k)/IRA assets compared to Mid Boomers at the same age. Strikingly, though, Late Boomers have seen a drop in their 401(k)/IRA assets. The questions are why is their 401(k)/IRA wealth lower and what do the patterns mean for younger cohorts.

Suggested Citation

  • Anqi Chen & Alicia H. Munnell & Laura D. Quinby, 2023. "Why Do Late Boomers Have So Little Wealth and How Will Early Gen-Xers Fare?," Working Papers, Center for Retirement Research at Boston College wp2023-06, Center for Retirement Research.
    • Handle: RePEc:crr:crrwps:wp2023-06
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