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The COVID-19 pandemic may have sped up the retirement of some Baby Boomers, however. [105] According to the Pew Research Center, the number of retired Baby Boomers increased by 3.2 million in 2020, the largest annual increase in the previous decade. [105]
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 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 ...
In the United States, Pew Research Center reported that the number of Baby Boomers in retirement had increased by 2.3 million in 2020 the largest annual increase since the oldest Baby Boomers turned 65 during 2011. [179] This surge in the number of retirees contributed to the labor shortage as the country recovered from the pandemic. [170]
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 ...
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 ...
The number of retirees is down from 2.8 million last year, per the Fed data, a sign of those returning to work. ... the nation hasn’t prepared itself for baby boomer to retire. Baby boomers need ...
Baby boomers, members of the wealthiest generation in history, are beginning to retire in record numbers. Though much has been made about the effect of that on workplaces, its effect on the ...