Facts about Boomers

The United States experienced a huge increase of births after soldiers returned home from World War II, lending to the term  “Baby Boomers.”  There are an estimated 83 million boomers, ranging from age 45 to 63, and they represent a fourth of the total U.S. population. Baby Boomers are those who were born between 1946 and 1964. There were and estimated  42 million  American’s age 45 to 63 in 1990.

According to the USDA the size and direction of migration patterns vary considerably by age, and baby boomers are increasingly migrating to rural destinations. If baby boomers follow migration patterns similar to those of their predecessors, the rural population age 55-75 will increase by 30 percent between 2010 and 2020.

Statistics about baby boomers

  • 11: Number of more years women aged 55 can expect of sexual activity (and even more) if they’re healthy.  Source: Lab Report, TIME Magazine. April 26, 2010
  • 63%: Percentage of workers’ retirement savings that are locked in 401(k) accounts. Compare to 19% of workers who have both a 401(k) and an employer-funded pension; and 17% who have a defined benefit/pension only. Source: Center for Retirement Research at Boston College
  • 70%: Percentage of people who will work in some capacity during retirement.  29% will work part-time for interest ,  22% will work for needed income, 11% will start their own business, 6% will retire from their career but work full time doing something else,  2% don’t plan to retire at all  SOURCE: “Staying Ahead of the Curve,” a 2007 national survey of 1,500 workers ages 45 to 74.
  • $27,798: Median 2006 income of households with householders 65 and older, up 3.4 percent, in real terms, from the previous year.  Source: Income, Poverty, and Health Insurance Coverage in the United States: 2006
  • During the Baby Boomer years, approximately 76 million American were born. Today, this represents 28 percent of the American population.
  • In 1957, 4.3 million babies were born in the U.S. This is more than any year before or since.
  • After the Boomers came the era of the Generation X’ers. There are about 41 million Generation X’ers in the United States. Generation X’ers were born between 1968 and 1979.
  • 36 percent of Boomers will move or plan to move when they become Empty Nesters. When they retire, 55 percent say they will move.
  • Of the Boomers who moved or will consider moving once becoming Empty Nesters, roughly one-third (36 percent) will move more than three hours away.
  • Upon retirement that number climbs to 51 percent.
  • Only about one-third (36 percent) of Baby Boomers think they will have enough money to live comfortably once they retirement. Nearly half (47 percent) of older Americans (those aged 59-70) believe they will have enough money to live comfortably in retirement.
  • 40 percent of Boomers are not sure if they will have enough money to live comfortably.
  • One-fourth of Boomers do not think they will have enough money to retire. Male Boomers (50 percent) are significantly more likely than females (34 percent) to think they will have enough money to live comfortably in retirement.
  • A large majority – 75 percent – of baby boomers expect to keep working after they retire from their current careers .
  • In 1957, there were 4,300,000 babies born setting a record for the highest number of births ever recorded.
  • In the first year of the Baby Boom, 1946, there were 3,411,000 recorded births.
  • The Baby Boom ended in 1964 with 4,027,000 recorded births.
  • In 1964, Baby Boomers represented 40 percent of the population. Today, they make up 28 percent of the total population of the United States.
  • Of the total population of Baby Boomers, women make up 51 percent.
  • A Baby Boomer turns 50 every 8.5 seconds.
  • On January 1, 2006, the first Baby Boomer turned 60.
  • Women who are currently 50 have a life expectancy of 82.5.
  • Men who are currently 50 have a life expectancy of 78.5.
  • In 1965, 36 percent of the population of the United States was under the age of 18. Currently, only 18 percent of the population is under the age of 18.
  • Where Baby Boomers Live-The four states with the most active retirement community Baby Boomers are New York, Pennsylvania, California and Texas.
  • The states that have the highest percentage of Baby Boomers in their population are Vermont, New Hampshire, Maine, Connecticut and Montana.
  • The average Baby Boomer will hold 11 different jobs during his or her lifetime.
  • Baby Boomers hold $13 trillion in assets, which is 50 percent of United States’s asset base.
  • Own their own homes – 67.6 percent, Rent – 25 percent
  • Think they will not have enough money to retire – 25 percent
  • Have enough money to retire and live comfortably – 36 percent
  • Not sure if they will have enough money to retire and live comfortably – 40 percent
  • Looking forward to retirement to be free – 74 percent
  • Want to retire to a home that requires little maintenance – 62 percent
  • Want a smaller home when they retire – 23 percent
  • 16.5 million seniors engage in social networking including Facebook, Twitter and My Space.
  • 78.2 million Estimated number of baby boomers, as of July 1, 2005.<http://www.census.gov/popest/national/>
  • 7,918 Number of people turning 60 each day in 2006, according to projections. That amounts to 330 every hour.<http://www.census.gov/population/www/projections/usinterimproj/>
  • James & MaryThe most popular baby names for boys and girls, respectively, in 1946. Today, the names Jacob and Emily lead the list; James ranks 17th among boys and Mary is 63rd among girls. (Source: Social Security Administration, at<http://www.ssa.gov/OACT/babynames/>)
  • 50.8%Percentage of women baby boomers in 2005.<http://www.census.gov/popest/national/>
  • 9.1 millionEstimated number of baby boomers in 2004 who were black. Also, 8.0 million boomers were Hispanic (of any race).<http://www.census.gov/popest/national/>
  • 32%Proportion of Alaska’s population that was part of the baby boom generation, as of the last census. Baby boomers also comprised 30 percent or more of the population in New Hampshire, Vermont and Maine. In contrast, Utah (23 percent) was the only state where baby boomers constituted less than 25 percent.<http://www.census.gov/prod/2001pubs/c2kbr01-12.pdf>
  • 141 million Estimated U.S. population in 1946. Today, the nation’s population stands at about 298 million.<http://www.census.gov/popest/archives/1990s/popclockest.txt> and <http://www.census.gov>
  • 33% and 5% The proportions of adults age 25 and older with at least a high school diploma and at least a bachelor’s degree, respectively, in 1947. By 2004, the respective proportions had risen to 85 percent and 28 percent.<http://www.census.gov/population/www/socdemo/educ-attn.html>
  • $2,695 Average annual expenditures on health care in 2004 for people ages 45 to 54 — the age group that is the heart of the baby boom generation. When budgeting medical expenses, baby boomers should expect increased health-care spending as they age; for instance, those age 55 to 64 spent $3,262 and those 65 and over, $3,899.(Source: Bureau of Labor Statistics at<http://www.bls.gov/cex/2004/Standard/age.pdf>)
  • 57.8 million Number of baby boomers living in 2030, according to projections; 54.9 percent would be female. That year, boomers would be between ages 66 and 84. <http://www.census.gov/population/www/projections/usinterimproj/>
  • 2.1 The number of workers for each Social Security beneficiary in 2031, when all baby boomers will be over age 65. Currently, there are 3.3 workers for each Social Security beneficiary. (Source: Social Security Administration, at<http://www.ssa.gov/pressoffice/basicfact.htm>