April 2010, Dean Baker and David Rosnick

The collapse of the housing bubble and the resulting plunge in the stock market destroyed more than $10 trillion in household wealth. The impact was especially severe for the baby boom cohorts who are at or near retirement age. This paper uses data from the Federal Reserve Board's 2007 Survey of Consumer Finances to compare the wealth of the baby boomer cohorts just before the crash with projections of household wealth following the crash. These projections show that most baby boomers will be almost entirely dependent on their Social Security income after they stop working.

Report - Abstract


GuideStar Exchange Gold charity navigator LERA cfc IFPTE

contact us

1611 Connecticut Ave., NW
Suite 400
Washington, DC 20009
(202) 293-5380
info@cepr.net

let's talk about it

Follow us on Twitter Like us on Facebook Follow us on Tumbler Connect with us on Linkedin Watch us on YouTube Google+ feed cepr.net rss feed