Michele Norris, MSNBC - Over the past decade, a steady cadence of 10,000 people a day were turning 65. By the end of 2025, close to 12,000 people a day will turn 65 for the next two years. In 2024, that daily number jumped to more than 11,200. By the end of 2025, close to 12,000 people a day will turn 65 for the next two years, according to the U.S. census, as the U.S. enters what demographers call the “Peak 65 period,” when all those baby boomers march into their senior years.
The U.S. population is older at this moment than it has ever been, according to the Population Reference Bureau, and the number of Americans age 65 or older will increase by a whopping 47% by 2050. At that point, the tally of 82 million older adults will represent 23% of the U.S. population, according to the PRB.
We are looking at what is reportedly the largest leap in retirement eligibility that America has ever seen, and it is happening at a moment when the gaps in our retirement system are impossible to ignore....
One in five Americans over age 50 have no retirement savings according to AARP, and 61% are worried they won’t have enough socked away to live on in their senior years. For 1 in every 3 Americans, credit card debt outpaces their emergency savings, and more than 1 in 4 people have no emergency savings at all. More
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