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However, data shows many have inadequate savings and may struggle to maintain their standard of living.In fact, some boomers have saved so little that younger Americans could surpass them with just a few years of disciplined saving and investing.Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's howDave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and 3 simple steps to fix it ASAPApproaching retirement with no savings? Don’t panic, you're not alone. Here are 6 easy ways you can catch up (and fast)Here’s a closer look at the boomers’ financial state — and what it takes to get ahead on the path to financial freedom.According to a 2025 Vanguard report, only the top 30% of income-earning baby boomers are ready for retirement (1).Vanguard also found that median-income individuals are expected to experience an annual spending shortfall of $5,000, or 13% of their overall spending needs, in retirement.That could make for a significant change in lifestyle.Meanwhile, a Northwestern Mutual survey found that the average “magic number” Americans say they will need for retirement is $1.26 million (2). With average savings and net worth well below that figure, it’s no surprise that the survey also found 51% of Americans think it’s “somewhat or very likely” they will outlive their savings.With limited resources, many boomers may be forced to take on debt, rely heavily on Social Security, cut back their lifestyles or even return to work to maintain their quality of life.But even if you’re a boomer, there’s still time to chart a different course.Read more: Warren Buffett used 8 solid, repeatable money rules to turn $9,800 into a $150B fortune. Start using them today to get rich (and stay rich)’Whatever your personal “magic number” for retirement may be, starting early and staying consistent can help you get there.The median salary for someone aged 55 to 64 is $1,322 per week or $68,744 per year, according to SmartAsset (3).Fidelity recommends having 2x your salary by age 35, 4x by 45 and 7x by 55. To hit these milestones, they suggest investing 15% of your pretax income into a diversified portfolio focused on growth and income.For example, if you earned $70,000 and consistently saved 15% per year in a low-cost S&P 500 index fund — which has averaged about 10.4% annual returns since 1957 — you could save double your income in around nine years and 7x your income in about 18 years.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,845.50 -50.74 (-0.74%)Dow 3048,063.29 -303.77 (-0.63%)Nasdaq23,241.99 -177.09 (-0.76%)Russell 20002,481.91 -18.68 (-0.75%)VIX14.95 0.00 (0.00%)Gold4,332.10 -9.00 (-0.21%)Trending tickersBTC-USD Bitcoin USD 87,865.02 -970.37 (-1.09%)^GSPC S&P 500 6,845.50 -50.74 (-0.74%)^IXIC NASDAQ Composite 23,241.99 -177.09 (-0.76%)ETH-USD Ethereum USD 2,981.33 -13.76 (-0.46%)^DJI Dow Jones Industrial Average 48,063.29 -303.77 (-0.63%)PortfolioSign in to access your portfolioSign inTop gainersAXSM Axsome Therapeutics, Inc. 182.64 +33.85 (+22.75%)PSNY Polestar Automotive Holding UK PLC 21.37 +1.88 (+9.65%)ONDS Ondas Holdings Inc. 9.76 +0.77 (+8.57%)DJT Trump Media & Technology Group Corp. 13.24 +0.67 (+5.33%)PBF PBF Energy Inc. 27.12 +1.08 (+4.15%)Top losersCORT Corcept Therapeutics Incorporated 34.80 -35.40 (-50.42%)QXO QXO, Inc. 19.29 -1.75 (-8.32%)RGC Regencell Bioscience Holdings Limited 21.00 -1.90 (-8.30%)NIO NIO Inc. 5.10 -0.40 (-7.27%)PSLV Sprott Physical Silver Trust 23.65 -1.57 (-6.23%)Most activeONDS Ondas Holdings Inc. 9.76 +0.77 (+8.57%)NVDA NVIDIA Corporation 186.50 -1.04 (-0.55%)PLUG Plug Power Inc. 1.9700 +0.0350 (+1.81%)NIO NIO Inc. 5.10 -0.40 (-7.27%)TSLA Tesla, Inc. 449.72 -4.52 (-1.00%)Top economic eventsEarnings eventsMy earnings eventsEarnings events