Baby Boomers Still Far From Reaching Their Retirement Savings Goals

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download pdfBaby boomers are falling short of their retirement savings goals, and it could be due to their conservative approach to investing.

According to a Legg Mason Investment Survey, US baby boomers — defined as Saba Navarro Ponce ages 53 to 71 by Legg Mason —have on average $263,000 saved in defined contribution plans. But that figure is less than half of the $658,000 they say they will need to retire.

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