The Largest Wave of New Retirees in History Is on the Horizon

 

What is this chart showing?

This chart shows an overview of America’s Peak 65 milestone.

Why is it important?

The year 2024 marks the beginning of the “Peak 65® Zone,” the largest surge of retirement age Americans turning 65 in our nation’s history. These Peak Boomers represent the youngest, largest, and final cohort of the Baby Boomer generation.

We’re also in the midst of what many are calling the “Great Wealth Transfer.” Many experts believe that this transfer of wealth between generations will have a significant impact on the economy. Though some parts of people’s overall economic lives may remain untouched, this will undoubtedly impact America’s housing, healthcare, education, labor markets, financial markets, and more.

This wealth transfer will likely benefit a large segment of upper-middle-class millennials who will inherit lump sums. As we approach the greatest surge in the number of people ages 65 and over, it’s important for investors to have a plan in place for this evolving retirement landscape.

Related: Peak 65 Retirees Have a Big Problem. But You Can Help!

Source: Alliance for Lifetime Income, AARP, J.P. Morgan Asset Management, Cerulli Associates, U.S. News, The Cerulli Report—”U.S. High-Net-Worth and Ultra-High-Net-Worth Markets 2021: Evolving Wealth Demographics,” “The Peak Boomer Impact Study” commissioned by ALI’s Retirement Income Institute.

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