Core Insights - Less than half of Americans are adequately prepared for retirement, with Vanguard indicating that this group may struggle to maintain their current lifestyles in retirement [1] - The importance of early retirement planning is emphasized, as relying solely on Social Security is insufficient for most individuals [2] Generation Analysis - Vanguard estimates that only 40% of baby boomers are on track for retirement, while Gen Z shows a more favorable statistic with 47% on track [3] - Millennials and Gen X are in the middle, with 42% and 41% respectively [3] Technological Impact - Technology has contributed to Gen Z's preparedness, with automatic wealth-building strategies and accessible financial tools allowing earlier engagement in wealth accumulation [4] - Features such as autoenrollment and target-date funds have significantly improved savings behavior and investment outcomes [4] Homeownership Influence - Homeownership is a critical factor that can enhance retirement preparedness, giving baby boomers an advantage over younger generations [5] - Nearly 90% of baby boomers own homes, providing them with options like home equity loans and reverse mortgages to facilitate retirement [6] - For baby boomers in the lower 30th income percentile, having home equity increases their retirement preparedness from 15% to 42% [7]