NU Online News Service, March 29, 2005, 4:15 p.m. EST
When baby boomers get older, they may wish they had built bigger nest eggs.[@@]
Researchers at Oppenheimer Funds Inc., New York, a unit of Massachusetts Mutual Life Insurance Company, Springfield, Mass., have published data supporting that conclusion in a report on a fall 2004 survey of 600 U.S. workers between the ages of 45 and 75 and 401 U.S. retirees in that age group.
Each of the survey participants had annual household incomes of at least $75,000 or household savings and investments of at least $300,000. The asset total did not include the value of participants’ homes.
Almost 70% of the retirees said they now spend at least as much as they spent when they were working, and 98% said they had regrets about pre-retirement spending, according to OppenheimerFunds researchers.