Generation Boomer Logo

2008
Apr - May - Jun
Magazine

Senior Spectrum Newspaper Current Edition

 

Things You May Not Know About Boomers Today

Boomer enjoying golf

  • Within 20 years, the age profile of America will match that of Florida - about one in five Americans will be older than 65.
  • Four out of 10 boomers have less than $10,000 in retirement savings.
  • One-third of boomer households today have at least $100,000 in investable assets.
  • About one-third of baby boomers think they will have enough money to live comfortably once they retire.
  • Four out of five boomers intend to keep working and earning in retirement. Half of boomers plan to launch into an entirely new job or career in retirement.
  • Only one in seven baby boomers say they plan to collect Social Security benefits at age 62.
  • The unpredictable cost of illness and health care is by far boomers' biggest fear. They are three times more worried about a major illness (48 percent), their ability to pay for health care (53 percent) or winding up in a nursing home (48 percent), than about dying (17 percent).