At 61 She Lives in Basement While Dad Tours World

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Dec. 18 (Bloomberg) -- Lee Manchester, a 61-year-old former mid-level manager and entrepreneur who lost two jobs in the aftermath of the financial crisis, talks about how she downsized and is living with a friend on Cape Cod. Like many baby boomers, she is less secure financially and prepared for retirement than her father, who's 87. For the first time in generations, the next wave of retirees will probably be worse off than the current elderly. Manchester speaks at the cottage she shares in Wellfleet, Massachussets. (Source: Bloomberg)

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