One-third of “transition boomers,” those aged 55 to 65 and who are 10 years or fewer away from retirement, are unsure how much money they will need to cover basic living expenses in retirement, according to “The Transition Boomers and Retirement Income Survey,” from Allianz Life Insurance Company of North America.
Transition boomers rank health care costs as their biggest retirement concern (32 percent); 28 percent said their biggest retirement concern is not being able to cover basic living expenses, according to the report. Of those respondents, 64 percent were between 55 and 60, and 36 percent were between 61 and 65.
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