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Baby Boomer Retirement Stats: How do You Compare?

The youngest of the Baby Boomer generation (people born between 1946 and 1964) is reaching the age of retirement – let’s take a look at some statistics on baby boomers who account for almost 77 million Americans and up until 2015 were the largest segment of our population.

  1. Only 65% of workers retire before they turn 65. After you hit that milestone, no matter what the age, boomers tend to rely on things like Social Security, Medicare, savings, or investments as a source of income. Find this article again.
  2. One not so great statistic – 4 out of 10 boomers don’t feel they have accrued a substantial savings towards retirement – meaning they won’t just be collecting Social Security; they will depend on it fully.
  3. Over 1 million families have pre-planned their final needs with BurialPlanning.com. From securing traditional cemetery plots to cremation, pre-planning your burial can save time, money and most of all make sure that you are remembered how you want to be.
  4. Unlike millennials, boomers don’t have mobile devices permanently attached to their hands, but they are adapting to the new technology. Boomers mainly use technology for purpose- such as consumer research or to get news - but they are also the fastest growing group on Facebook with an 80% surge in users between 2010 and 2014.
  5. The state with the highest population of baby boomers? Florida, where 19.1% of the total population came from the boomer generation.

So how do you compare with others when it comes to baby boomer statistics? Do you feel prepared to head into retirement? If not, we can help – you can request your FREE pre-planning kit to learn more about how you can join over 1 million families in the US who have already taken the first step towards peace of mind.