Retirement Income Sources
New Models for Your Work and Your Life in the New Economy
James W. Walker and Linda H. Lewis
If you were born between roughly 1947 to 1966, you are a baby boomer, so the longer you continue working and postpone retirement, the better off you will be financially. Working an additional five or ten years makes a significant difference in the level of accumulated assets. It means you are contributing to savings, letting your invested savings grow, and most importantly, you are not drawing them down.
In addition to earnings, you may rely on three traditional sources of retirement income: social security, pension, and personal savings (including direct savings and IRA/401(k) plans). Boomers indicate that they will rely more ...
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