How are we going to handle all the Baby Boomers?


Quick, what is the most common age in the United States?

Before checking below for the answer, please take a moment and read this short narrative. There is a common misperception, illustrated by the accompanying image, that the size of the population at or near retirement, age 59 and over, dwarfs their younger comrades. Moreover, many suggest that when they all hit retirement, it could wreak financial havoc on the economy. The reality is arguably far more encouraging. The two younger generations are larger individually and significantly greater collectively than the Baby Boomers. In fact, 42.9 million of the 73 million baby boomers are actually between the ages of 50 (people like Michelle Obama, and Michael Jordan) and 59 (people like Bill Gates and Eddie Van Halen). Oh, by the way, a June 2014 study from Merrill Lynch found that 72 percent of pre-retirees over the age of 50 say their ideal retirement will include working, often in new and more flexible and fulfilling ways. I thought you would enjoy perusing the two illustrations above. The answer to the opening question is on the right side of the top right of the graph. BINGO if you answered 24!

Harry Pappas Jr.

CFP® Managing Director-Investments

Master of Science Degree Personal Financial Planning

Certified Estate & Trust Specialist ™ Certified Divorce Financial Analyst™

Pappas Wealth Management Group of Wells Fargo Advisors 818 North Highway A1A, Ste 200 Ponte Vedra, Florida 32082 904-273-7955

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