Why boomers' retirement will cost more than their parents' did

12/23/2011 | SmartMoney.com

Baby boomers are likely to live longer than past generations, and fewer of them have defined-benefit retirement plans. Also, interest rates are lower now than they were a few decades ago, and health expenses are higher. These factors explain why boomers need larger nest eggs than their parents did for retirement, writes Alicia Munnell, director of the Center for Retirement Research at Boston College.

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