Age in America

• Every 7 seconds someone turns 50
• Median age:
  • 1950 - 30
  • 2005 - 33
  • 2050 - 45
• Today there are 250,000 people age 100
• By 2050 there will be 3M people age 100

An AARP Study conducted in 2003 found:

• The average Baby Boomer has saved only $50,000 towards retirement
• A large majority of Boomers expect to retire early: 25% by age 55 – almost 70% by age 60
• 80% of Baby Boomers plan to work in “retirement”
  • 10% plan on working full-time or keep their current job
  • 27% plan on working part-time for enjoyment
  • 30% plan on working part time for income
  • 6% plan on starting their own business
• 51% will devote more time to community service or volunteering activities
• Only 58% of the Boomers have given a great deal of thought to retirement.
• Over 45% of people in a long term relationship have not talked to their spouse/significant other about when they would retire, where they would live in retirement, or how much money they would need
• One in five Boomers expect to care for an aging parent in their retirement

The Top Ten Reasons