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The roughly 71.6 million men and women of the postwar baby-boom generation started hitting retirement age about a decade ago. But it’ll be another dozen years before the whole generation has ...
The oldest Baby Boomers, a large demographic cohort, had started to reach retirement age in the 2010s. [40] By the early 2020s, about one in six Americans are 65 or older. [ 55 ] In 2020, the median age of the United States is 38.8, up from 37.2 in 2010, [ 43 ] 35 in 2000, and 30 in 1980. [ 56 ]
A 2023 report from the Transamerica Center for Retirement Studies, for example, found that nearly half of baby boomers plan to work past age 70 or never retire at all. Person with a serious ...
A 2024 survey by AARP found that 20% of Americans ages 50 and over have no retirement savings and more than half (61%) are worried they will not have enough money to support them in retirement.
Jul. 20—The growing number of Baby Boomer retirements nationwide is accelerating, raising concerns locally about losing a large chunk of the workforce sooner than expected. Data shows nearly 6 ...
Baby boomers are the largest generation to retire. However, a Stanford Center on Longevity study found that the median amount boomers have in tax-advantaged plans is $290,000 for early boomers ...
At the same time, the postwar baby boom and subsequently falling fertility rate seemed to jeopardize America's Social Security system as the baby boomers retire in the early 21st century. [ 74 ] Using their own definition of baby boomers as people born between 1946 and 1964 and U.S. census data, the Pew Research Center estimated 71.6 million ...
Baby boomers haven’t saved enough money for retirement While there could be several reasons for boomers’ financial condition , the statistics aren’t painting a pretty picture: The median ...