Story perspectives

30 Million Boomers Face Retirement Shortfall, Wealth Gap Widens

6/7/2026

Summary

Story summary

Thirty million U.S. baby boomers turning 65 face a retirement shortfall, with two-thirds unprepared, over half have $250,000 or less saved, a quarter with nothing, and a 24 % income gap of $9,000 per year.
Redfin’s 2024 Census data show boomers own 28 % of three-plus-bedroom homes and 54 % are mortgage-free, creating a lock-in.
Wealth data show top-tenth households with a 70-plus member hold roughly 2,500 times the wealth of bottom-tenth households.

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Story summary

Thirty million U.S. baby boomers turning 65 face a retirement shortfall, with two-thirds unprepared, over half have $250,000 or less saved, a quarter with nothing, and a 24 % income gap of $9,000 per year.
Redfin’s 2024 Census data show boomers own 28 % of three-plus-bedroom homes and 54 % are mortgage-free, creating a lock-in.
Wealth data show top-tenth households with a 70-plus member hold roughly 2,500 times the wealth of bottom-tenth households.