Poll: 25 percent of baby boomers have no retirement savings

Jasmine Phu

February 4, 2011

It's never too late for retirement planning, but a recent poll conducted by Harris Poll Online has found that many baby boomers need to immediately find ways to start planning for their golden years or they risk going into them with no savings at all.

One out of every four adults aged 46 to 64 reported having no retirement funds, while 22 percent of seniors said the same. This could severely impact their life quality in the coming years.

Among those hit the hardest are members of the Sandwich Generation, who have had to take time off of work to tend to an older adult's health. One of the first steps toward making a viable plan for the future may be investing in an elderly alert system. This device can allow older users to send a personal emergency response message if they need assistance, so caregivers can stay at work.

This could be crucial, as recent research has shown that 74 percent of caregivers have said that they have had to stop working their current jobs or change their situation to accommodate the needs of an aged family member.