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Only 13.4% of Texas residents are 65 or older and are thus eligible for Medicare benefits. Nationally, 17.3% of people fall into this age group. What state has the oldest average age?
The generations are defined as; Gen Z born between 1997 or later, millennials born between 1981-1997, Gen X born between 1965-1980, and boomers born between 1946-1964.
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.
SSA data shows one out of every four 65-year-olds today will live past the age of 90, while one out of 10 will live past 95. Indeed, 60% of baby boomers are more worried about outliving their savings than dying. [156] Rising life expectancy may result in reductions in social security benefits, devaluing private and public pension programs.
It's a 55+ retirement community called Sun City Texas. Next: I'm Planning My Retirement:... This Is the Biggest Boomer Hot Spot of 2024 — and It’s Not in Florida
He’s also a boomer himself, with Gen X children, who has taught millennials and members of Gen Z. By the end of 2024, everyone in the boomer generation will be at least 60.
On the other hand, parts of Georgia, North Carolina and Texas are more moderate throughout the year. More From GOBankingRates The Single Best Thing To Buy at Aldi in March 2024
Born between 1946 and 1964, many boomers have already been retired for some time or are about to leave the workforce. But while retirement should be an exciting next step in life, many boomers are...