Pam Tourangeau said at 68, she doesn’t have a big nest egg.
She’s still working part-time as a therapist but said she’s slowing down: “Fatigue is a big part of getting older.”
She remembered that her ex-father-in-law had a large pension when he retired — a practice that’s far more uncommon these days. As the Congressional Research Service found, defined contribution plans, which are retirement plans like 401(k)s that rely on employee contributions and are subject to market fluctuations, began to overtake defined benefit plans, which include pensions, in the mid-1980s.
“They don’t do that anymore,” she said. She feels like boomers have gotten stuck in a generation gap — too young to receive pensions but too old to really be part of the tech boom.
“I was just doing all the love, peace, and let’s be happy kind of thing. But money wasn’t our focus,” she said. “Now, all of a sudden, …
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