Survey Highlights Baby Boomers' Dependence on Social Security

In the

of 1,160 baby boomers, 11% of participants stated they are strongly convinced that they can live comfortably upon retirement. Fifty five percent are somewhat or very certain that they can live comfortably while 44% have little or no faith that they will ever have enough money to retire. With 64% of baby boomers surveyed claiming Social Security as their main source of retirement income, the survey results highlight the importance of politicians' recent announcement of willingness to scale back Social Security in an effort to reduce increasing federal deficits. Knowledge Networks of Menlo Park, California conducted the online poll between March 4-13. The margin of sampling error is approximated at plus or minus 3.5% points. Baby boomers currently account for approximately 77 million of the US population.