Beginning a disciplined plan to save for retirement can never start too soon and it is never too late. All Americans should recognize that only they are responsible for their own future.

“Florida has always counted on a big chunk of the baby boomers retiring down here and buying property over the next 20 years,” said Jack McCabe, a veteran Florida-basedreal estate analyst.“We’re not going to see this big influx of full-time senior citizen residents,” McCabe said. “Home builders may need to re-analyze what they see as demand over the next five to 10 years.”

Baby boomers are members of the first generation since the 1930s who will be worse off in their older years than their parents, says Teresa Ghilarducci, a retirement specialist and economics professor at the New School of Social Research in New York.

“According to our projections, it looks like most middle-class workers, not just low-income workers but most middle-class workers, will be living at or near the poverty level in their old age,” Ghilarducci said in an interview.

“This is the first time since the Great Depression we are looking at poverty rates increasing among the elderly.”

The Occupy Wall Street movement, and street protests staged by mostly younger people in major cities across the United States have grabbed the media spotlight in recent weeks.

But income inequality, bank bailouts and bad markets are issues resonating throughout the gated communities of traditional retirement havens like Florida as well.

Older Americans, a powerful voting bloc in the 2012 presidential election, are keenly aware of the economic downturn that has left growing numbers living in poverty.

Hopefully Future generations will see what happens when an entire generation does not save for retirement. Many baby boomers will never be able to fully retire.

Please comment or call to discuss how this affects you and what to do about it.