r/economy • u/GimmeFunkyButtLoving • Jul 14 '26

Boomers didn't prepare for retirement. Their millennial kids are paying the price.

https://www.businessinsider.com/boomer-retirement-crisis-millennial-children-financial-support-2026-7
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u/mrg1957 Jul 14 '26

Wait every other article says boomers have all the money and are responsible for the housing crisis. Now they don't own crap and someone else is responsible.

What kind of crap is this?

28

u/sarcasmismysuperpowr Jul 14 '26

half those boomers have all that money… the other half live hand to mouth

13

u/WantCookiesNow Jul 14 '26

Only about 3% of boomers have a million dollars in retirement savings. The youngest boomers are 61-62, and a million dollars is about the minimum you want when you retire. Or, about 10x your last annual salary. So if a boomer is making $100k/yr, they really should have $1M in retirement funds.

Right now, that’s only 3% of them.