Older Investors Most at Risk with Retirement Finances

Those closest to retirement are at the greatest risk of depleting their nest egg, but not as many fall into this category as was the case in 2003.

That was one conclusion drawn from the 2010 Retirement Readiness Ratings recently released by the Employee Benefit Research Institute (EBRI). 

According to the EBRI data, 47.2% of early baby boomers (56 to 62 years old) risk running short in retirement, down from 59.2% in similar 2003 data. In the same vein, some 43.7% of late baby boomers (46 to 55) risk falling short in retirement, down from 54.7% seven years ago.  

Finally, among generation Xers (36 to 45), 44.5% could deplete their nest egg, down from 57.4% in 2003.   

The EBRI data also shows that the length of time investors participate in a workplace retirement plan also affects their chances of depleting their finances (see Length in Retirement Plan Affects GenX Retirement Readiness).  

More about the EBRI data is at  htttp://www.ebri.org/pdf/briefspdf/EBRI_IB_07-2010_No344_RRR-RSPM.pdf.