Baby boomers are starting to retire, but many are agonizing about their finances and believe they'll need to work longer than they had planned, a new poll finds.
The 77 million-strong generation born between 1946 and 1964 has clung tenaciously to its youth. Now, boomers are getting nervous about retirement. Only 11 percent say they are strongly convinced they will be able to live in comfort.
A total of 55 percent said they were either somewhat or very certain they could retire with financial security. But another 44 percent express little or no faith they'll have enough money when their careers end.
Further underscoring the financial squeeze, 1 in 4 boomers still working say they'll never retire. That's about the same number as those who say they have no retirement savings.
The Associated Press-LifeGoesStrong.com poll comes as politicians face growing pressure to curb record federal deficits, and budget hawks of both parties have expressed a willingness to scale back Social Security, the government's biggest program.
The survey suggests how politically risky that would be: 64 percent of boomers see Social Security as the keystone of their retirement earnings, far outpacing pensions, investments and other income.
The survey also highlights the particular retirement challenge facing boomers, who are contemplating exiting the work force just as the worst economy in seven decades left them coping with high jobless rates, tattered home values and painfully low interest rates that stunt the growth of savings.
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God may be providing churches with another opportunity to reach the Baby Boom Generation. In times of transition (e.g., death of a loved one, divorce, loss of a job, retirement) folks are more open to evangelization. In times of uncertainty those who may have previously rejected the Christian faith may decide to give it a second chance or even third chance. God uses such times to get people's attention and to soften their hearts.
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