GITNUX MARKETDATA REPORT 2024

Baby Boomers Retiring Statistics: Market Report & Data

Statistic 1

"10,000 baby boomers are reaching the retirement age every day in the United States."

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Statistic 2

"About 26% of the US population are Baby Boomers."

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Statistic 3

"The median savings in a Baby Boomer's retirement account is $144,000."

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Statistic 4

"52% of Baby Boomers expect to delay retirement due to their financial situation."

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Statistic 5

"70% of Baby Boomers believe that they will work beyond the age of 65."

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Statistic 6

"Baby Boomers hold over 50% of the wealth in the United States."

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Statistic 7

"Over 30% of Baby Boomers had plans to travel once retired, but many have had to defer because of Covid-19."

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Statistic 8

"19% of Baby Boomers expect to rely on Social Security as their primary source of retirement income."

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Statistic 9

"More than 73% of Baby Boomers plan to work in retirement."

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Statistic 10

"41% of Baby Boomers had no retirement savings in 2017."

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Statistic 11

"65% of Baby Boomers are at risk of not being able to pay basic living expenses or healthcare costs in retirement."

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Statistic 12

"Less than 25% of Baby Boomers believe they will need long-term care, however the actual probability is double."

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Statistic 13

"Baby Boomers retiring today are part of the first generation to do so with the majority relying on defined contribution (such as 401k) rather than defined benefit (pension) retirement plans."

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Statistic 14

"Around 45% of baby boomers have no retirement savings."

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Statistic 15

"Around 23% of Baby Boomers are outwardly postponing their plans for retirement."

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Statistic 16

"More than 60% of Baby Boomers are more afraid of outliving their assets than dying."

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Statistic 17

"Only 55% of Baby Boomers have some retirement savings and, of those, 42% have less than $100,000."

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Statistic 18

"72% of baby boomers agreed that they should have been saving more for retirement."

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Statistic 19

"The average retirement savings for baby boomers in 2019 was $920,000."

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