Not to stray too far off topic, but I've been hearing people say that the baby boomers got all the money. I even saw a you tube video posted on this site indicating that. I don't know if the poster was indicating that, but the person on the video sure did. Just because more boomers have pensions don't mean they got all the money, especially Black baby boomers. Plus how do having a pension or living on a fixed income equate to having all the money, if you're lucky to even have that. Enough places have discontinued their seniors discounts as it is.
Now the baby boomers who earned a pretty decent salary during their working years, with homes paid off or who downsized, or both, and stayed pretty healthy, retired well. But that's not the majority, meaning a lot of baby boomers can't even afford to retire. This even includes the ones who earned a decent salary, if they didn't manage their money well, bought 30 years mortgages too late, had disastrous marriages, got sick, etc... Anyway, people retiring in poverty in America has always been high. It just gotten worse over the years, and seems to keep getting worst.