Sad retirement outlook for Midwest Baby Boomers

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Updated: July 1, 2011 12:19AM

Nearly three-quarters of middle-income Baby Boomers who live in the Midwest — 72 percent — say their financial situation, and not their age, is the key trigger for when to retire, according to a study by the Bankers Life and Casualty Company Center for a Secure Retirement.

Two-thirds of those with incomes between $25,000 and $75,000 said they are behind where they had expected to be at this point in their lives.

Nearly half, or 46 percent, of the Midwestern Baby Boomers said they have saved less than $100,000 for retirement; 16 percent have saved less than $10,000.