This is an excerpt from an online article from www.55places.com and USA Today data, Census.gov, realtor.org
Baby Boomers including some retirees make up over a quarter of the U.S. population, the majority of which are homeowners.
Born after World War II, Between 1946 and 1964, these folks are typically characterized as those who grew up watching TV, swooning over The Beatles, protesting the Vietnam War, and ushering in social change. Here are 6 facts you may not know about Baby Boomers today:
- Baby Boomers make up about 26 percent of the population
Many of our most recent Baby Boomer statistics come from the 2006 data gathered by the U.S. Census Bureau. At that time, there were approximately 78 million Baby Boomers, which was 26.1 percent of the general population.
- California is home to more Baby Boomers than any other state
California tops the census data as the state that has the highest number of Baby Boomers. Its nearly nine million residents put it far ahead of estimates for the next closest states: Texas (5.6 million), New York (5.1 million), Florida (4.6 million), and Pennsylvania (3.4 million).
- The highest concentration of Baby Boomers is found in Vermont
When it comes to percentages, Vermont has the highest concentration of Baby Boomers at 30 percent of the total population. In fact, New England is well represented in the top 5 states with Maine coming in at 29.8 percent and New Hampshire at 29.7 percent. Fourth and fifth places go to Montana (28.7 percent) and Connecticut (28.1).
4. More than half of Baby Boomers support their adult children financially
A 2012 study by the National Center for Policy Analysis took a look, in part, at the way Boomers are spending their money. A surprising 59 percent of parents were found to be providing financial support to their adult children, including living expenses, medical bills, and paying off loans.
5. Baby Boomers are spending less on entertainment and eating out
While they may be spending more on their adult children, they may also be spending less on themselves. From 1990 to 2010, Baby Boomer spending fell in categories such as food, clothing, and household furnishings.
6. The majority of Baby Boomers are homeowners
Owning a home was a large part of the traditional American Dream embraced by Baby Boomers. According to a study by the National Association of Realtors, nearly 80 percent of own their own homes and one out of four owns more than one property.
Posted on March 18, 2019, at 10:57 pm
Arnie Urbick | Posted in Baby Boomers