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Did You Know: Retirement and Empty Nest

Statistics about Baby Boomers, Retirement, and Empty Nest

Statistics about Baby Boomers, Retirement, and Empty Nest

Stage of Life has statistics about baby boomers, retirement, empty nest. Some of these may shock you.  Others may be more intuitive.  If you have a statistic about baby boomers, retirement, empty nest to share, Contact Us along with the source and we'll determine if it should be placed on the Retirement Statistics page.


 

The Facts...

 

Statistics about baby boomers, empty nesters and retirement...

Statistics on Empty Nesters, Baby Boomers, and Retirement

Only 64% of private-sector workers have any formal retirement plan, and fewer than half sign up for one.

Source: Time Magazine (June 30, 2014)


 Statistics on Empty Nesters, Baby Boomers, and Retirement

Every day, beginning January 1st, 2011 more than 10,000 Baby Boomers will reach the age of 65.  That is going to keep happening every single day for the next
19 years.

Source: The American Dream, View Website

 
 Statistics on Empty Nesters, Baby Boomers, and Retirement

35% of Americans already over the age of 65 rely almost entirely on Social
Security payments alone.

Source: The American Dream, View Website

 
 Statistics on Empty Nesters, Baby Boomers, and Retirement

24% of U.S. workers admit that they have postponed their planned retirement age at least once during the past year.
Approximately 3 out of 4 Americans start claiming Social Security benefits the moment they are eligible at age 62.

Source: The American Dream, View Website

 
 Statistics on Empty Nesters, Baby Boomers, and Retirement

40% of baby boomers plan to work "until they drop", according to a recent AARP survey.

Source: The American Dream, View Website

 
 Statistics on Empty Nesters, Baby Boomers, and Retirement

Over 50% of the discretionary spending power, in the United States alone, rests with the baby boomers and they are responsible for over half of all consumer spending. In the area of health care, baby boomers buy 61% of over the counter medications and an astonishing 77% of all prescription drugs. Even their vacation habits play a big role in the economy with boomers accounting for about 80% of all leisure travel.

Source: Boomersweb.net, View Website

 
 Statistics on Empty Nesters, Baby Boomers, and Retirement

36% of Boomers will move or plan to move when they become Empty Nesters. When they retire, 55% say they will move.  Of the Boomers who moved or will consider moving once becoming Empty Nesters, roughly one-third (36%) will move more than three hours away. Upon retirement that number climbs to 51%.

Source: EscapeHomes.com, View Website

 
 Statistics on Empty Nesters, Baby Boomers, and Retirement

44% of Boomers who moved or will consider moving from their old Empty Nest cite wanting a smaller house and one that requires less maintenance. Upon retirement, they say maintenance will be the paramount issue in choosing a home (62%), but they also will want a smaller home (23%).

Source: EscapeHomes.com, View Website

 
 Statistics on Empty Nesters, Baby Boomers, and Retirement

26% say they will feel like newlyweds  when their kids are gone and even more (34%) say they will feel closer to their spouse without the children around.

Source: EscapeHomes.com, View Website

 
 Statistics on Empty Nesters, Baby Boomers, and Retirement

58% say they are or were emotionally ready to get the kids out of the house. Males (70%) are significantly more likely to be emotionally prepared than females (55%).

Source: EscapeHomes.com, View Website

 
 Statistics on Empty Nesters, Baby Boomers, and Retirement

46% of baby boomers would advise future parents to spend less time at work and more time with their children.

Source: EscapeHomes.com, View Website

 
 Statistics on Empty Nesters, Baby Boomers, and Retirement

40% of Boomers anticipate that their adult children will move back in with them. 30% anticipate that their parents will move in with them.

Source: EscapeHomes.com, View Website

 
Statistics on Empty Nesters, Baby Boomers, and
            Retirement

Lowest rates of dementiaIn a study of 9,344 women over age 65, those who reported being phycally active as teens enjoyed the lowest rates of congitive deline:  they were 35% less likely to experience early signs of dementia than women who had been sedentary.  Even late starters who didn't hit the gym until their 30s or their 50s lowered their risk of age-related intellectual decline.

Source: Journal of the American Geriatrics Society - 2010

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

Half:  The percentage of Baby Boomers in particular income brackets anticipated to run out of money within 10-20 years of retirement, and who will be unable to meet basic needs such as rent, food, and health care. Watch the video clip that ran on The Today Show about this retirement statistic.

Source: Employee Benefit Research Institute - July 2010 report

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

35%In a study of almost 10,000 women over age 65, those who reported being physically active as teens enjoyed the lowest rates of cognitive decline.  In fact, they were 35% less likely to experience early signs of dementia than women who had been sedentary in their earlier life stage.  Even late starters, those who started routine exercise in their 30s or 50s, lowered their risk of age-related intellectual decline.

Source: Health, TIME Magazine.  July 12, 2010

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

11Number of more years women aged 55 can expect of sexual activity (and even more) if they're healthy.

Source: Lab Report, TIME Magazine.  April 26, 2010

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

63%Percentage of workers' retirement savings that are locked in 401(k) accounts.  Compare to 19% of workers who have both a 401(k) and an employer-funded pension; and 17% who have a defined benefit/pension only.

Source: Center for Retirement Research at Boston College

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

$45,519Average 401(k) account balance at the end of 2008.  Average 401(k) balances dropped 30% in 2008 and are at a lower level then a decade ago.

Source: Employee Benefit Research Institute

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

23%Percentage of people 65 to 74 in the labor force in 2006, up from 20% in 2000. (5.5 million people).  Projections indicate that by 2016, the number will reach 10.1 million.

Source: Statistical Abstract of the United States: 2008 <http://www.census.gov/compendia/statab/> (Table 570)



Statistics on Empty Nesters, Baby Boomers, and Retirement

70%: Percentage of people who will work in some capacity during retirement.  Of these...

29% will work part-time for interest or enjoyment sake

22% will work for needed income

11% will start their own business

6% will retire from their career but work full time doing something else

2% don't plan to retire at all

2% don't know

SOURCE:  "Staying Ahead of the Curve," a 2007 national survey of 1,500 workers ages 45 to 74.  Margin of error is plus or minus 3%

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

29%: Percentage of people who plan to continue working after their traditional retirement but for no pay, e.g. volunteer work, board member, local goverment, etc.

SOURCE:  Same as above.

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

$27,798Median 2006 income of households with householders 65 and older, up 3.4 percent, in real terms, from the previous year.

Source: Income, Poverty, and Health Insurance Coverage in the United States: 2006   <http://www.census.gov/Press-Release/www/releases/archives/income_wealth/010583.html>

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

76% Proportion of people 65 and older in 2007 with at least a high school diploma.

Source: U.S. Census Bureau - Educational Attainment in the United States: 2007

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

9.4% Poverty rate for people 65 and older in 2006, down from 10.1 percent in 2005. There were 3.4 million seniors in poverty in 2006, a decline from 3.6 million in 2005.

Source: Income, Poverty, and Health Insurance Coverage in the United States: 2006
<
http://www.census.gov/Press-Release/www/releases/archives/income_wealth/010583.html>

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

$190,100 Median net worth for families in 2004 whose head was between 65 and 74. For those whose head was 75 or older, the corresponding figure was $163,100.

Source: Statistical Abstract of the United States: 2008 <http://www.census.gov/compendia/statab/> (Table 699)

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

17% Percentage of Florida’s population 65 and older in 2006, which led the nation. Next to Florida, states with the highest percentages of older people include West Virginia (15.3 percent) and Pennsylvania (15.2 percent). 

Source: Population estimates <http://www.census.gov/Press-Release/www/releases/archives/population/010048.html>

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

31.2%:  Percentage of the population of Charlotte County, Fla., that was 65 and older on July 1, 2006, which led the nation. In fact, Florida contributed four of the top 10 counties. 

Source: Population estimates <http://www.census.gov/Press-Release/www/releases/archives/population/010482.html>

 
Statistics on Empty Nesters, Baby Boomers, and Retirement

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