Baby Boomers are 62
May 8, 2008 Leave a comment
The average baby boomer is now 62 years old. 62 is a significant age for a couple of obvious reasons. First is that means the social security office will start cutting a lot of checks. Second is that a massive amount of leadership and knowledge is eligible to leave the workforce.
First reason
One of the largest generations in American history will now access the reserves (which they paid for). Fortunately, this group benefited from productivity gains throughout their lifetimes and that coorelated to more income/saving streams – 401k, Pensions, and improved financial planning. This a good thing because there will be 72 million people needed improved health care. Social Security is the cherry on top… until 2019.
Second reason
As 72 million people start to pay to live longer, a new realm of innovation opportunity exists. But who will identify it and who will lead it? Will the groups behind the baby boomers be talented enough to take advantage of this situation? It practically begs for the baby boomers who aren’t retired to start the plan for those coming behind them to use. Its like a treasure map.
Time will tell.
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