Baby Boomers could very well be the generation that has worked the hardest in their professional careers. However, despite this, many Boomers have not been able to save enough to enjoy a relaxing retirement. There is in fact a high percentage of Baby Boomers struggling with financial issues. Many of these they will not be able to sort out before they retirement.
Many independent studies have been done on the Baby Boomers retirement situation and concluded that about 1/5th of Baby Boomers might be forced to retire before they have paid off their mortgages, while others will not have enough funds for retirement for other reasons.
But, do not worry yet. Here, we have jotted down some vital tips that can help Baby Boomers augment their retirement savings and improve their current retirement situation.
It’s Time To Re-evaluate Your Assets for Retirement
Considering the fact that you are moving ahead towards retirement and old age, NOW is the right time to evaluate your home. You might not need nor be able to maintain a big house.