
According to a 2025 study by LendEDU, a worrying 41.5% of baby boomers live paycheck to paycheck.
Compounding the problem, many of these older adults carry consumer debt. A survey of older Americans by National Debt Relief found that 72% carry debt. Overall, respondents estimate needing an average of 12 more years to reach their retirement goals, despite having an average age of 61.