Less Than 60 Percent of Baby Boomers Own Retirement Accounts

As you’re looking at the fast-approaching years of your retirement, you may be thinking about how to stretch your retirement savings. Cozine/ShutterStock

Millions of working-age Americans between the ages of 56 and 64 are edging closer to retirement without having savings stashed away.

Only about 58.1 percent of American baby boomers—generally defined as those born between 1946 and 1964—owned a retirement account three years ago, at a time when the COVID-19 pandemic upended jobs and the global economy, census data for 2020 show.