Sunday

Baby Boomer Retirement By The Numbers

It is not news that baby boomers, people born between 1946 and 1964, are starting to turn 65 and beginning to retire in droves. A new Census Bureau report details how quickly the baby boomers are retiring and how they are supporting themselves in retirement. Here are 12 highlights from the Census report:

1. There are just over 40 million Americans age 65 and older, and they make up 13 percent of the population. By 2030, when all the baby boomers will have passed age 65, the over-65 crowd will reach 20 percent of the population. At that time the median age of Americans will increase to 39.6 years, up from 37.2 today and a significant increase from a little under 30 in the 1960s and '70s.

2. The U.S. is not the only country with an aging population. Canada, Japan and most of Europe have older populations than the U.S.
3. About 15 percent of the white population is over 65, but only 9.4 percent of Asians, 8.8 percent of blacks and 5.5 percent of Hispanics are over 65.
Read the rest of "12 Baby Boomer Retirement Trends" at  Money.USNews.com


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