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Baby Boomers Face Retirement Shortfall Despite Savings

12/30/2025

36 6 Full Breakdown

Summary

Story summary

Many Baby Boomers rely heavily on Social Security.
Fidelity reports the average 401(k) balance for Baby Boomers is $249,300 and the average IRA balance is $257,002.
Social Security is designed to replace only 40% of pre-retirement income.
COLA often fails to keep pace with inflation, eroding purchasing power.
Financial advisors emphasize the importance of savings and planning to ensure retirement security.

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Story summary

Many Baby Boomers rely heavily on Social Security.
Fidelity reports the average 401(k) balance for Baby Boomers is $249,300 and the average IRA balance is $257,002.
Social Security is designed to replace only 40% of pre-retirement income.
COLA often fails to keep pace with inflation, eroding purchasing power.
Financial advisors emphasize the importance of savings and planning to ensure retirement security.