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For as long as I’ve been a business owner, the narrative surrounding the baby boomer generation was all about the coming retirement wave. We were promised a mass exodus from the workforce, a ...
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As baby boomers age out of the workforce, many continue to be sustained by traditional defined benefit (DB) pension plans. The next cohort, Generation X , will face new and difficult challenges ...
Baby boomers are the wealthiest generation in America. Despite being only 20% of the population, they own more than 52% of the country's wealth, according to Federal Reserve data. The youngest baby...
Others speculated on the negative impact of the retirement of the Baby Boom generation and the relative cost to rent on the declining housing market. [ 50 ] [ 51 ] In many parts of the United States, it was significantly cheaper to rent the same property than to purchase it; the national median mortgage payment is $1,687 per month, nearly twice ...
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 ]
The term baby boom refers to a noticeable increase in the birth rate. The post-World War II population increase was described as a "boom" by various newspaper reporters, including Sylvia F. Porter in a column in the May 4, 1951, edition of the New York Post, based on the increase of 2,357,000 in the population of the U.S. from 1940 to 1950.
There's no sales tax, and Social Security retirement benefits are exempt from the state income tax, though retirement accounts such as a 401(k) or an IRA are taxed at full state income tax rates.
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