Nonetheless, certain groups of baby boomers are particularly vulnerable to insecure old ages as a result of inadequate retirement saving. Younger baby boomers who lack a high school diploma are less likely than others to have employer pensions. Consequently, these individuals are expected to be heavily dependent on Social Security benefits in their retirement years. Single parents . Single mothers, in particular, face obstacles to saving because of their intermittent work histories and low wages.
Housing is the single most important asset of all families.
The net worth of homeowning families is seven times that of renters. Racial and ethnic groups . Pensions are an important income source for many in old age. Unfortunately, many workers lack pension coverage. Sixty-two percent of whites have pension coverage through their own or a spouse's employment, compared with 54 percent of African Americans and 47 percent of Hispanics.