TexasBabyBoomers.com is an extension of Elder Options of Texas, and both are owned and managed by Cheryl Culbertson. The focus for Texas Baby Boomers is to provide useful articles and resources specifically for Texas boomer grandparents, children with aging parents, and caregivers.
DID YOU KNOW that the Texas baby boomer generation is projected to yield an elder population of 5.9 million or 19.4 percent of the state’s total population in 2030. One might say that baby boomers have reshaped what it means to grow older. Compared with their parents, boomers are healthier, better educated and living well into their 80s and beyond. The increasing lifespan has given boomers the chance to reinvent themselves and pursue new passions at any age.
Our goal is to provide useful resources and information regarding Texas retirement lifestyles, senior living options, grandparenting, travel opportunities, caregiving and so much more…all important issues for baby boomers today.
Who Are the Baby Boomers?
America’s 75 million Baby Boomers, between the ages of 52 and 70, control about 70 percent of all disposable income in the U.S. according to Nielson. On top of that, Boomers are set to inherit about $15 trillion dollars over the next 20 years. With that kind of financial might, analysts expect Baby Boomers will continue to ignite a consumer spending boom over the next several years.
Almost exactly nine months after World War II ended, “the cry of the baby was heard across the land,” as historian Landon Jones later described the trend. More babies were born in 1946 than ever before: 3.4 million, 20 percent more than in 1945. This was the beginning of the so-called “baby boom.”
In 1947, another 3.8 million babies were born; 3.9 million were born in 1952, and more than 4 million were born every year from 1954 until 1964 when the boom finally tapered off. By then, there were 76.4 million “baby boomers” in the United States. They made up almost 40 percent of the nation’s population.
Baby boomers are the most talked about the generation in the country. At approximately 77 million people, they’re also the largest (“Millennials” are a close second). Born between the years of 1946 and 1964, this post-World War II generation is now between the ages of 51 and 70. In 2011, the oldest Baby Boomers turned 65, and by 2030 the entire cohort will be 65 years and older, resulting in an elder population of 74.1 million. At that point, over one in five people in the U.S. will be over 64 years of age. The first members of the huge baby-boom generation in the U.S. have reached retirement age in recent years, and these older boomers are retiring in large numbers, just as Americans in their mid- the to late 60s did a few years earlier. While about eight in 10 boomers in their early 50s are in the workforce, the percentage employed drops to about 50% for boomers who are 60, and the proportion accelerates downward with each year of age thereafter. Only about a third of those aged 67 and 68 — the oldest boomers — are still working in some capacity.