*Dave Swoyer, right, 52, stands near his father John Swoyer, 84, in his father's home Wednesday, Feb. 3, 2010, in Barrington, N.J. John, a widower, has asked his son, Dave, for financial help.(AP Photo/Mel Evans)

The economy is poor, retirement funds are down, and wages have been stagnant for years. Workers across all generations are feeling the effects, especially the baby boomers who can’t afford to retire, says John Sweeney, human resources knowledge adviser for the Society for Human Resource Management.

“Baby boomers can’t afford to retire because their homes are under water,” Sweeny says. “They still have a mortgage in many cases and haven’t done a good job at saving for retirement because, let’s face it, salaries and wages for a lot of the middle class have been stagnant since the mid-1980s.”

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Dig Deeper



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.