According to a new report, many Americans will have to work into their 80s before being able to retire. The lower your income, the longer you'll have to work. Those making 11,700 or less, will have a 50% chance of retiring by 84. Those making $72,500 and up, will have a 50% chance of retiring at age 65.
Martha asked Lou Dobbs what accounts for this new trend. Dobbs says, "Baby boomers have been a highly irresponsible generation, absolutely failing to save and provide for their children in many ways as previous generations have. And, now just about 55% of all members of the baby boomer generation are saying 'Our children will never have lives as good as ours.'"
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