By Steven E. Sacks
There are nearly 80 million Baby Boomers today, and this cohort ranging from ages 55 to 73 is projected by the U.S. Census Bureau to reach 83.7 million in the year 2050. By 2030, more than 20 percent of U.S. residents are projected to be aged 65 and over, compared with 13 percent in 2010 and 9.8 percent in 1970.
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A large part of this growth is because of the aging of Baby Boomers (individuals born in the United States between mid-1946 and mid-1964), who began turning 65 in 2011 and are now driving growth at the older ages of the population. As one source in 2016 put this into perspective, every day, 10,000 people turn 65. There are more than personal financial issues at stake here.
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