03/21/2014 12:06 pm ET Updated Mar 21, 2014

Retirement Expectations Vs. Realities

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The last of the baby boomers will celebrate the big 5-0 birthday this year. And experts say that after they blow out all their candles, boomers need to take an honest look at their financial situation and establish their financial future.

Known as the generation of opportunity and optimism, many boomers are worried over retirement—and for good reason. A study released by the Employee Benefits Research Institute earlier this week shows that 18% of workers report being “very confident" that they'll have enough money for a comfortable retirement, an increase from 13% in 2013. Thirty-seven percent say they are "somewhat confident" and 24% are "not at all confident." While the numbers are an improvement from last year thanks to Wall Street’s record performance, it’s still low.

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