If you are close to retiring from Lockheed Martin and are looking forward to the next phase of your life, you might be a Baby Boomer. What is a Baby Boomer? Baby Boomers are the generation that was born after the end of World War II, in the years between 1946 and 1964. Once the war was over, the soldiers returned home, got married, and started families. These young soldiers and their wives, who still remembered the Great Depression that preceded the war, were proud to buy their first homes in the suburbs where they hoped to provide a better life for their children. These children became known as Baby Boomers.
The very existence of the Baby Boomer generation has had a tremendous impact on American society. Here are some fascinating statistics about your generation.
1. Every 10 seconds a Baby Boomer turns 65 (this amounts to between 3 and 4 million Boomers a year).
2. Baby Boomers will continue reaching retirement age at this rate for the next 20 years! This will more than double the number of senior citizens by the year 2050.
3. One-fourth of workers between ages 46 – 64 years have NO retirement savings or personal savings.
4. Approximately 56% of current retirees still had outstanding debts when they retired.
5. Forty percent of Baby Boomers say they expect to work forever.
6. Today there are only about 2.5 workers per Social Security beneficiary, and this number is expected to drop even more in the coming years. However, in 1945, there were 42 workers for every person on Social Security.
7. Boomers account for 40 percent of our nation’s consumer demand.
8. They control 70% of the total net worth of all households in the U.S., which equated to about $7 trillion.
9. They have 80% of all the money currently deposited in savings and loan associations.
10. Boomers account for 80% of all leisure travel.
The bottom line appears to be that, while Boomers can expect to have to deal with serious finances, there is still time to plan and to look forward to enjoying the coming years. To see how we can help you make sure you are ready for all your retirement decisions as you finish your career at Lockheed Martin, give us a call today at 817-210-3444 or click HERE to book a complimentary consultation with one of our Lockheed Martin specialists.
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Be sure and check back next week for more incredibly valuable information. Cheers!
Financial Planning and Investment Advisory offered by SWMG, LLC a Registered Investment Advisor.
This blog is being provided and sponsored by Strittmatter Wealth Management Group, LLC. Lockheed Martin and its subsidiaries do not endorse, recommend, or make representations with respect to any information, advice, services, or products discussed in this blog.
Lockheed Martin Retirement Specialist is not an official title or professional designation nor is it conferred by Lockheed Martin on any individual or company.
Our Complementary consultation and free report are for informational purposes only and provided free without any obligation to utilize or retain our investment advisory services.
SMWG, LLC is not affiliated with or endorsed by Lockheed Martin Corporation. Our expertise comes from working with LMT employees for several years and helping them to retire with confidence.
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