The ninth annual survey of boomer retirement preparedness by the Insured Retirement Institute finds that 45% of boomers have zero savings for retirement. That’s not news to most people nowadays, but I share two points I think are. The first was not included in the report, but mentioned in a press call; the second was one interesting statistic. The upshot is that some retirees have resources not reflected in the statistics and that others lacking resources are being quite rational about it. I conclude with the story of a Chilean waterside enclave to underscore the key point I believe this survey brings out.
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