Baby Boomer Facts
Definition of a Baby Boomer:
In the years following the end of World War II, the rate of births in the United States increased dramatically. If you notice on the chart above, the number of births in the years 1940-1945 was 2.5 million to 3.1 million. But during the subsequent 19 years (1946-1964), the birth rate increased as high as 4.3 million before tapering off. This period from 1946 to 1964 defines what is a baby boomer.
List of Thirteen Baby Boomer Facts and Statistics:
- On average, every ten seconds, another baby boomer will turn 65.
- 25% of baby boomer have no retirement savings. (source – AARP)
- Two-thirds of people aged 65 or older have one or more “chronic diseases” and see seven doctors. (source – AMA)
- 40% of baby boomers survey intend, or will be required, to work “until they drop.” (source – AARP)
- One third of Americans over 65 rely on Social Security for nearly all of their income. 75% of Americans claim their benefits at age 62 as soon as they are eligible – this is out of necessity. (source – End of the American Dream)
- The number of non-government workers for each person receiving social security benefits is 1.6. In 1945, that number was 42. (source – The Economic Collapse)
- In 2015, people 50+ will represent 45% of the United States population (source – AARP)
- According to a Nielsen survey, boomers spend $230 billion on consumer packaged goods, of 55% of the total. (source – Nielsen)
- Of the nearly 200 million U.S. internet users, approximately 70 million are older than 50. (source – Jupiter Research)
- Adults over 50 account for 80% of luxury travel spending. (source – American Life Project at Pew Internet)
- Some 25.8 million baby boomers formally volunteered in 2005. (source – U.S. Bureau of Labor Statistics)
- Over three-fourths of people over the age of 45 believe that work is critical “to their self-esteem.” (source – AARP)
- Gardening is the top hobby for those over 50.
Baby Boomer Facts Last Updated on 2/24/2013