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Can Baby Boomers Confidently Retire with Social Security in the US?

Can Baby Boomers Confidently Retire with Social Security in the US?. Group 5 Sophie Lo Michael Chou Julia Brito Howard Chang. Facts About Boomers. 77 million people were born between 1946 to 1964, which is defined as the baby boomer era (U.S. Census).

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Can Baby Boomers Confidently Retire with Social Security in the US?

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  1. Can Baby Boomers Confidently Retire with Social Security in the US? Group 5 Sophie Lo Michael Chou Julia Brito Howard Chang

  2. Facts About Boomers • 77 million people were born between 1946 to 1964, which is defined as the baby boomer era (U.S. Census). • The first baby boomer turned 65 on January 1, 2011 • By 2015, those aged 50 and older will represent 45% of the U.S. population • By 2030, the 65-plus population will double to about 71.5 million, and by 2050 will grow to 86.7 million people • In 2050, the number of Americans aged 65 and older is projected to be 88.5 million(21% of the US population in 2050.

  3. Birth Rate in USA

  4. Increasing LifeExpectancies Future retirees will live years longer than today’s 65-year-olds, and collect thousands more in benefits.

  5. In the Future, Fewer Workers Will Support More Retirees As a matter of simple math, when the ratio of workers to retirees falls, each worker must bear a greater financial burden. 2030: 2.1 to 1 Today: 3.4 to 1 1960: 5.1 to 1

  6. OASDI and HI Income and Cost as a Percentage of Taxable Payroll

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