According to the Employee Benefit Research Institute, “early†baby boomers, meaning people 58 to 64, have a 44% chance of not having enough money to pay basic retirement costs and uninsured medical expenses. “Late†boomers, ages 48 to 57, and Generation X workers, ages 38 to 47, have about a 45% chance of running short, the study concluded. Taking the time to set up a good strategy and plan for your retirement can be your best ally. A lousy plan could destroy your chance of a decent and secure retirement, notes Clyde Anderson, a financial lifestyle coach.