Study: Average retiree has lost $117,000

Many baby boomers have watched their retirement savings dwindle because of unexpected events.

According to a survey by Ameriprise Financial, nest eggs are down an average of $117,000.{} Ninety{}percent of those surveyed, experienced at least one economic or life event that hurt their retirement savings.

"Retirement derailers" include job loss, market declines and having to support an adult child.

Fifty-to-70-year-olds with at least $100,000 in cash savings and investments participated in the survey.