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Mon August 25, 2008
Casper Boomer Study Complete
By Elsa Partan
Laramie, Wyo. – Researchers at the University of Wyoming have found that a large number of baby boomers in Casper do not have enough money to retire.
The study took place over the last year and a half in Casper and involved surveys of nearly 600 people born between 1946 and 1964. The results were startling: one quarter of the baby boomers said they do not plan to retire, and for the vast majority it is because they do not have enough money. Thirty four percent said they will rely on money from social security in retirement. UW Social Work professor Vicki Murdock is an author of the study.
"The sense that I have come away with is that the boomers are really frightened because we are expecting to live into old age and it doesn't look promising," Murdock said.
Some banks in Casper have offered to help people make financial plans for retirement. The study was sponsored by the City of Casper and more than 20 other groups and businesses to try to prepare for a large aging population.