Half of Baby Boomers to fall short of retirement goals – here’s 3 ways to get back on track

Just 51% of soon-to-be retirees are on track for the later lifestyle they want, according to new research, with younger cohorts even less likely to be retirement-ready

Retired man looking worried at sink
Half of Baby Boomers to fall short of retirement goals – here’s 3 ways to get back on track
(Image credit: Getty Images)

Only half of UK Baby Boomers – the generation born between 1946 and the early 1960s – are financially equipped for retirement, according to new analysis.

The remainder are expected to fall short of the pension savings they need to sustain their current lifestyle in retirement or achieve a moderate standard of living.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Swipe to scroll horizontally
Retirees' target income replacement rate by working earnings band

Gross earnings band

Target replacement rate

Less than £17,700

86%

£17,700 to £32,599

76%

£32,600 to £46,599

72%

£46,600 to £74,599

62%

Over £74,600

50%

Laura Miller

Laura Miller is an experienced financial and business journalist. Formerly on staff at the Daily Telegraph, her freelance work now appears in the money pages of all the national newspapers. She endeavours to make money issues easy to understand for everyone, and to do justice to the people who regularly trust her to tell their stories. She lives by the sea in Aberystwyth. You can find her tweeting @thatlaurawrites