Baby Boomer Statistics

Baby Boomers are often defined as people born between 1946 and 1964. So in 2011 they will be between 47 and 65 years of age. That puts me right in the middle... (born in 1951)

In the US alone there are an estimate of 78 Million people that are now baby boomers. And they are very much alive and much more active and busy than our parents at that age. We now live longer and for the most part are healthier. One in four Americans are now baby boomers. A baby boomer turns 50 every 18 seconds!

In Canada the ratio is 1/3 of all Canadians are boomers.

Intrestingly enough - baby boomers live for the most part in metropolitan areas as opposed to rural counties.

1/3 have, or will volunteer in an organization during their boom years.

69% of boomers plan to work after retirement.

Concerns About the Baby Boomers' Retirement
Congressional Budget Office Report

Baby boomers--people born between 1946 and 1964--make up one of the largest and most prosperous generations in U.S. history. As a group, boomers have enjoyed higher income during their working years than any preceding generation, and they have been accumulating substantial savings, in part to provide for their retirement. As they move out of the workforce and into retirement over the next 25 years, boomers will begin to draw on those savings, collect private pensions, and become eligible for benefits from government programs such as Social Security and Medicare.

That impending wave of retirements has become a source of concern for two reasons. First, the population of retirees will grow much more quickly than the taxpaying workforce, at a time when average benefits per retiree are expected to continue rising. Those developments will place severe and mounting budgetary pressures on the federal government. Second, some researchers have questioned whether many boomers are accumulating enough wealth to pay for an adequate retirement. Not only could inadequate saving leave boomers poorly prepared, but it could compound the government's budgetary problems by limiting the growth of investment, productivity, and wages (which drive federal revenues).

The Congressional Budget Office (CBO) recently reviewed the research that has been conducted over the past decade on the retirement prospects of aging Americans. That review reveals a mixed picture of boomers' futures. Because retirement preparations are largely a matter of personal choice, there is no widely accepted standard of what constitutes an adequate or appropriate level of retirement income or consumption. In the absence of a single standard, researchers have used a number of different measures to assess the adequacy of retirement preparations; and the application of a variety of measures produces a variety of conclusions.

Other comments from the US government:

"According to the U.S. Census Bureau, there are 78 million members of the ‘baby boom’ generation living in the United States. Baby boomers make up 28 percent of the total population of the country, and a baby boomer turns 50 every 8.5 seconds.

This aging demographic will mean an increase in the need for services on the local and state levels. More and more, seniors and their families are making the choice to age at home—as opposed to in a nursing facility—as it offers a more cost-effective lifestyle with a significantly greater quality of life."

Baby Boomer Statistics | Baby Boomers | Baby Boomer Years