Baby Boomers Head for Retirement

Korczyk, Sophie M.
March 2001
Journal of Financial Planning;Mar2001, Vol. 14 Issue 3, p116
Academic Journal
This article focuses role of financial planners in providing the needs of baby boom generation for their retirement. The baby boom generation accounts for over 28 percent of the U.S. population. However, its mind-set has not been explored nearly as thoroughly as that of the 65-and-over population, which is less than half as large. Unlike the elderly, baby boomers have tended nest to speak with a single voice. And what they do say about their expectations and desires is not necessarily internally consistent. Baby boomers think they will work far longer than their eiders have. However, fewer than one in six men and one in ten women age 65 and older are in the "official" workforce today. If the baby boomers follow the pattern set by prior generations, half will have claimed Social Security benefits by age 62 in 2008.


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