Financial experts recommend that households maintain an emergency fund equivalent to three to six months income in preparation for any unforeseen circumstances. For more than one-third of the Baby Boom households, readily available assets are worth less than one month's income. The survey also found that certain population groups are particularly prone to financial vulnerabilities. The 1997 Retirement and Readiness Indexes emphasize the need for Congress to create savings incentives and more accessible savings vehicles. Fiscal and tax policy is one significant component of something that is really a long-term cultural project.
Retirement planning is an issue of personal and public responsibility.
The Baby Boom Retirement and Readiness Indexes are among Merrill Lynch's special research efforts to quantify the mounting national crisis in personal saving faced by the Baby Boom generation.