If retirement were to last only five years, boomers could feel much more secure. Fifteen years or more, and less than a quarter of them think they will be able to live comfortably.
Older boomers – those who are between the ages of 50 and 64 – with defined benefit plans are much more confident about their retirement than those with defined contribution plans. But that level of confidence for those with either plan is still not nearly as high as it was two years ago.
A survey released Tuesday by consulting firm Watson Wyatt found the percent of workers aged 50 to 64 who are very confident about having enough resources to live comfortably five years into retirement dropped to 44 percent from 63 percent in 2007.