The infographic below depicts results from a recent survey conducted by qSample, using its baby boomer panel. The survey reveals that more than 46% of the respondents think it is realistic to retire from their current job within the next ten years. Less than 10% of those surveyed said they believe it’s unrealistic to hope to retire in the next ten years. qSample’s Baby Boomer panel provides companies with insights into the values and opinions of the largest, most affluent generation in America.
Baby boomers are classified as people born during the demographic Post World War II baby boom between the years of 1946 and 1964. Actual births increased over 4,000,000 during this period of time. In today’s world, baby boomers are expected to live significantly longer than their parents, making their retirements that much longer as well. It is expected that some seniors may even be retired for a longer period of time than they were actually employed in the workforce.
Ten thousand baby boomers are now retiring every day and will continue to do so for the next 15 to 20 years. The number of people ages 65 and older in the United States is expected to more than double from 39 million today to more than 89 million in 2050. This means that seniors will have to be more careful than ever in regards to managing their nest egg through retirement. It will be necessary for them to make tough choices about how much risk to take on in order to beat inflation while making sure they don’t outlive their savings.
It has also been noted that many baby boomers don’t typically view retirement as a time to retire from activity all together, but instead it’s a time for new adventure. Many seniors plan to see the world, volunteer their time, and even take on part time jobs in areas completely different from their previous careers.
With baby boomers on the edge of making life changing decisions while also comprising the largest group of consumers in America, there is a great deal of competition to appeal to them. The right research can make the difference between your company’s success and failure in the marketplace.
qSample’s baby boomer panel is ready to assist with your research and data collection needs. Are you ready for the results?