Sophie Lo Michael Chou Julia Brito Howard Chang Can Baby Boomers Confidently Retire with Social Security in the US 77 million people were born between 1946 to 1964 which is defined as the baby boomer era US Census ID: 461262
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Slide1
Group 5Sophie LoMichael ChouJulia BritoHoward Chang
Can Baby Boomers Confidently Retire with Social Security in the US?Slide2
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, 2011By 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.
Facts About BoomersSlide3
Birth
Rate in USASlide4
Increasing Life
Expectancies
Future retirees will live years longer than today’s 65-year-olds, and collect thousands more in benefits.Slide5
In the Future, Fewer Workers Will Support More Retirees
1960: 5.1 to 1
Today: 3.4 to 1
2030: 2.1 to 1
As a matter of simple math, when the ratio of workers to retirees falls, each worker must bear a greater financial burden.Slide6
OASDI and HI Income and Cost as a Percentage of Taxable
PayrollSlide7