Half of American Baby Boomers Face a Frightening Retirement Reality: But There's Worse News Incoming

There are plenty of tough retirement facts out there. Social Security

Continue Reading Below

Pensions are on the decline

According to the financial services company PWC's 2016 "Employee Financial Wellness Survey

Of course, that number doesn't really tell you that much on its own. Millennials are included in that number, and 77% of them have $100,000 or less in retirement savings. That's not so bad, as Millennials have decades to save and invest their money, so a small account balance for that group isn't so scary.

But here's what is frightening: Fifty percent of baby boomers also have $100,000 or less saved for retirement.

<3>More From Fool.com

Continue Reading Below