Some 40% of baby boomers will see their living standards drop in retirement, according to The Wall Street Journal. That’s 15 million American households that will see a downgrade in their lifestyle.
It gets worse. One in three boomers have zero money saved for retirement. And six in 10 have less than $10,000. High debt levels are to blame: Boomers are entering retirement with more debt than ever before.
The average boomer has $99,000 in debt. Too much debt and too little savings are making boomers rethink their retirement plans.
For many, retiring into a manufactured home is the only viable option. For some investors, this makes the market ripe for opportunity.