age of baby boomer
Baby boomers, born between 1946 and 1964, are heading into retirement in droves (about 10,000 a day, in fact). Along with the aging of this iconic cohort come lots of data about their poor preparation for their golden years. Gen Z, Gen Y, baby boomers – a guide to the generations. As a new report says Generation Z are smarter and more prudent than Gen Y, here's a guide to all those complex generational labels. Do you know your Baby Boomers from your Millennials? Malala Yousafzai, born in 1997, is a standard bearer for Gen Z Photo: AFP/Getty Images. By 2030, when the first baby boomers reach 84, the number of Americans over 65 will have grown by 75% to 69 million. That means more than 20% of the population will be over 65, compared with only 13% today. More than 35% will be over 50. Now, with the first of them turning 60, baby boomers are about to do something utterly conventional and predictable. They're going to start getting old. In 1946, 3.4 million babies were born in the U.S., a jump of 22% from the previous year. The surge of births continued, year after year, until 1964. But not all baby boomers lack retirement reasonable retirement assets. At the other end of the spectrum, 26% of those 55 to 65 years old have balances greater than $200,000. Of the over-65-year olds, 31% had $200,000 or more in their retirement accounts. Baby Boomer Retirement Research. Last year, GoBankingRates published research conducted with 1,504 adults over the age of 55 (4.3% margin of error). About 30% of the respondents age 55 and over claimed to have no retirement savings. An additional 26% reported less than $50,000 saved for retirement. Millennials have surpassed Baby Boomers as the nation’s largest living generation, according to population estimates released this month by the U.S. Census Bureau. Millennials, whom we define as those ages 18-34 in 2015, now number 75.4 million, surpassing the 74.9 million Baby Boomers (ages 51-69). And Generation X (ages 35-50 in 2015) is projected to pass the Boomers in population by 2028. The Millennial generation continues to grow as young immigrants expand its ranks. As the year 2011 began on Jan. 1, the oldest members of the Baby Boom generation celebrated their 65th birthday. In fact, on that day, today, and for every day for the next 19 years, 10,000 baby boomers will reach age 65. The aging of this huge cohort of Americans (26% of the total U.S. population are Baby Boomers) will dramatically change the composition of the country. Currently, just 13% of Americans are ages 65 and older. Baby Boomers. Introduction. Almost exactly nine months after World War II ended, “the cry of the baby was heard across the land,” as historian Landon Jones later described the trend. More babies were born in 1946 than ever before: 3.4 million, 20 percent more than in 1945. And it was a useful label because, initially, it described those born in the immediate years after World War II, when there was – thanks to soldiers returning home – a significant spike in births, both in America and in Britain. Baby Boomers, as a phrase, was first used in 1970, in a Washington Post article.
Children born between 1946 and 1964.