Infographics / Finance / Baby Boomers Infographic
Baby Boomers Infographic

Baby Boomers Infographic

Retirement is something that every individual has to face. It is very important for every person to plan the retirement much in advance, so that he/she can have a comfortable retired life. As of 2010, The U.S. is said to have about 72 million people, who have been born between Jan. 1, 1946 through Dec. 31, 1964. Around 10,000 boomers tend to reach their retirement age daily. In regards to financial planning, around 35% of the age 65+ tend to rely on the social security alone for their income. The average qualified retirement plan is about $88,000, while the average savings for retirement is $38,000. In regards to the decisions on making financial plans for retirement, 5% of them are lost and confused, 20% doing much better than others, 13% behind, 14% just trying to get started and about 48% at a comfortable position with their peers. The main goal of the empty nesters is to get debt free. Around four out of five people reside in their existing home. Americans living longer are said to be much more active in later years than their parents. Their hopes and plans include earning more than spending, to build savings and to pay off the debts, collect capital instead of stuffs, and to invest in stocks, real estate and CD’s. The retirement housing preferences include 52% people at single level, 50% at comfortable community, 37% at smaller home, 29% at less or no yard work and 24% to costs less. Also 84% in the age group of 50+ own their own homes.

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