The ultimate question for Baby Boomers today.  Can you save enough for retirement?  Can you live on what you have saved?

Common questions are also the most important.  The idea of retiring is to stop working right? So how many people say they have enough saved to retire on schedule?

Forty-nine percent. That’s how much the average working Baby Boomer has saved toward his or her total retirement savings goal, according to a new survey released by TD Ameritrade Holding Corporation AMTD +1.08% . Working members of the Mature Generation have saved on average 71 percent, Generation X have reached 26 percent and Generation Y have achieved 15 percent of their respective retirement savings goals.

The Future Most Americans (80%) envision having to work part- or full time in retirement. On average, they think they will need income for 18 to 22 years of retirement, slightly less than the 20 to 25 years that statistics indicate they will actually need. Eighty percent of respondents said they believe they will require the same amount of income they currently live on or less, but this may not be realistic given that inflation and rising healthcare costs can significantly impact financial needs. In fact, one-third of those who are currently retired say they have had to change their style of living — and almost a quarter of them have gone back to work. Their advice to younger generations: Save as much as you can as early as you can, establish a financial plan, limit expenses and work longer.

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