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Baby boomers worried about retirement

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Posted: Dec 31, 2013 8:40 AM
Source: AP

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WASHINGTON, D.C. - Across the U.S., blue-collar baby boomers are increasingly worried that they won't ever be able to retire, with many working jobs that provide paltry pensions or none at all.

There are 78 million Americans born between 1946 and 1964. Some expect to work the rest of their lives because they have little money to put away for old age and worry Social Security won't cover their bills. Others hope to find jobs that are less physically demanding.

Mo Wang, co-director of the Human Resource Research Center at the University of Florida's Warrington College of Business Administration, says the problem isn't that lower-wage workers are slacking off. It's that they don't earn enough money to be able to save.

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