Many U.S. baby boomers are still not sure how much they should save for retirement.
The Insured Retirement Institute, Washington, has published data on boomer retirement planning efforts in a report compiled by Strategic Business Insights, Princeton, N.J. Strategic Business polled 4,100 homes. The sample included 1,500 households with an annual income of $100,000 and assets of $500,000 or more.
Researchers divided the participants into two groups: boomers who believe they are within 5 years of retiring and other boomers.
The researchers found that many of the boomers surveyed are looking for financial advice, and that boomers who believe they are close to retiring are especially hungry for ideas. About 60% of the boomers who are near retirement said they already have talked to a financial specialist: 22% have talked to an accountant, 21% have talked to an independent financial planner or consultant, and 16% have talked to a Certified Financial Planner.