July 31, 2007 3:30 PM

Study: Boomers' retirement funds lacking
Posted by Douglas Eisenhartat 3:30 PM

Being a Boomer myself, I am happy to revisit this topic from time to time. The Big R ain't so far away as it used to be, and even though retirement is defined differently these days, in most cases it means diminished income.

So what's a fella to do? First, stay abreast of the news:

Nearly one-third of baby boomers ages 51 to 61 are at risk of not having enough in savings to finance a comfortable retirement, according to a study by the Center for Retirement Research at Boston College.

"We just don’t believe people are saving too much," said Alicia H. Munnell, director of the center.

A recently published academic study looked at the retirement preparedness of Americans who were in their 50s in 1992 and concluded that at least 80 percent had more than enough for retirement. Others have argued that Americans may be saving too much.

The Boston College study evaluated the same 51-61 age group, but looked at their finances in 2004, and found 32 percent to be "at risk" for not being able to maintain their preretirement standard of living in retirement.

Read the full entry from the Globe/Boston.com Daily Business Update. And stay tuned for more on this vital issue, facing millions of my age cohort.