Fed: Baby boomers won’t be as well-off as older generations

Whatever the disadvantages, those 62 and older could at least count on the likelihood that they will be richer than the young, who are just starting careers and may have little or even negative wealth, what with student loans. And the gap has widened in the last 25 years. But change is afoot, the Federal Reserve Bank of St. Louis reports. “Baby boomers, who are now retiring in droves, are likely to be less well-off than their ‘old’ counterparts in the two previous generations,” according…
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