Boomers' $$ for Kids' Retirement
The economy is not clicking along as it should -- the recovery is slow, halting and uncertain. The United States now has a large cadre of long-term unemployed, and many of them are in their twenties and early thirties.
These people are obviously not saving for retirement. Many of them are living at home, many are working at low-income jobs and many are facing student loans and other debts that have immediate priority.
Their parents, mostly Baby Boomers, might help make up this retirement deficit. Now is the time for Boomers to start considering whether they should. If resources are limited, it may well be wiser to help prepare children for retirement than to help with their current bills.
For more on this topic including a chart showing savings growth potential, click here: