Baby Boomers, however, aren’t as fortunate. For them, Social Security appears shaky and traditional pension plans are fading from memory. Worry? Not the largest, most influential generation in American history.

More than half (58%) of Baby Boomers who have at least $500,000 of investable assets intend to finance their retirements by selling their primary residences, according to research by Spectrem Group.

Financing retirement with the proceeds from the sale of a primary residence is not without risk. Although the strategy would have worked well in most areas of the country for the past 20 years, it could fail if the real estate market weakens. The willingness to take that risk suggests a number of Baby Boomers can’t manage the type of retirement their parents enjoyed.

Indeed, the retirement expectations of affluent Baby Boomers differ greatly from the experience of current retirees. While 62% of current retirees were fully retired at their chosen retirement age, only 25% of Baby Boomers expect the same for themselves.

Affluent Baby Boomers also have diminished expectations of their employer-sponsored retirement plans. Even though plan participation rates have increased, the proportion of those who believe the plans will provide adequate income for retirement has declined.

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