When Baby Boom Women Retire

When Baby Boom Women Retire

When Baby Boom Women Retire

When Baby Boom Women Retire

Synopsis

Fewer than 20% of Baby Boom women will experience a secure retirement. Marriage, education, occupation, home ownership--these variables predict their future. Possession of all four indicates retirement security, and absence of any increases risk of old-age poverty. These and other findings about Baby Boom women's retirement are outlined in this book.

Excerpt

Fewer than 20% of baby boom women can feel secure about their future retirement. Baby boom women who are married, possess a college degree, receive high earnings, and own a home can expect to experience a comfortable retirement. Yet, even these women may face economic jeopardy since risk factors such as divorce or loss of a job could reduce their future prospects. Marriage, education, occupation and home ownership--these are the variables that best predict the future for baby boom women. Possession of all four variables indicate high retirement security; absence of any one of the variables increases the risk of poverty in old age.

This study reports on an in-depth examination of three key structural variables impacting the future retirement of baby boom women: population aging, baby boom women's labor force participation, and retirement income sources. The study's findings reveal: (1) that baby boom women's retirement will not look like men's retirement patterns; (2) that traditional sources of retirement income--Social Security, employer pensions and personal savings--for most baby boom women will be insufficient; and (3) that baby boom women will enter retirement as society's caregivers of the country's elderly.

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