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Close to half (45%) of baby boomer workers are expecting a decrease in their standard of living when they retire, according to new research.

The Transamerica Center for Retirement Studies unveiled this finding in a new report evaluating the retirement outlook of American workers by generation. The 17th annual Transamerica online survey, “Perspectives on Retirement: Baby Boomers, Generation X, and Millennials,” conducted by Harris Poll, polled 4,161 full-time and part-time workers, including 1,353 millennials, 1,232 generation Xers, 1,462 baby boomers and 114 workers who were born prior to 1946.

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