Middle-Income Boomers's Survey Shows Lack of Retirement Security...

67% — Of middle-income boomers expect a much different retirement than their parents

60% — Of middle-income boomers "envy" the pensions of previous generations of retirees

55% — Of middle-income boomers have saved less $100,000

Unlike their parents, baby boomers retirement risks have shifted from employers and the government onto individuals with the switch to 401(k)s instead of corporate pension plans, cuts in employer-paid retiree health benefits and the uncertain future of Social Security and Medicare.

“Boomers may have to take more personal responsibility for their retirement financial security than was the case with their parents and plan for the risks that may jeopardize this security, like long-term care, inflation and outliving their money,” says Scott Perry, president of Bankers Life.