Baby Boomers Retire

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. By 2030, when all members of the Baby Boom generation have reached that age, fully 18% of the nation will be at least that age, according to Pew Research Center population projections. But don’t tell Baby Boomers that they are old. The typical Boomer believes that old age does not begin until age 72, according to a 2009 Pew Research survey. Also, while about half of all adults say they feel younger than their actual age, fully 61% of Boomers are feeling more spry than their age would imply. In fact, the typical Boomer feels nine years younger than his or her chronological age. Read More