PNC Investments’ Post

High Demand for Aging Services: Keeping up with the Baby Boomers The baby boomer generation is the second largest age group in the population after the millennials, accounting for a staggering 73 million people. Born between 1946 and 1964, baby boomers are aging and creating a greater need for related services. In fact, all baby boomers will be 65 years of age or older by 2030 according to the U.S Census Bureau. https://lnkd.in/gM8QiMFa

"According to the U.S. Census Bureau's population projections, about 12,000 people will turn 65 every day in the next year. That's about 4.4 million in 2024. And by 2030, all boomers — those born from 1946 through 1964 — will be 65 or older. This means one in every five Americans will have reached the traditional retirement age." Will Boomers retire?? There is a great chance they will remain in the Workforce, since they have less dollars (less than 100k) saved to retire on and they are in great shape and living longer. BTW, women live longer than men so we have about 5-10 more years of living expenses. 🤔 Interesting stuff to explore. What do you think will happen?? https://lnkd.in/eR7hKsjg Prathan Powell Jr, MSHRD Carmen James MBA, MACC, SHRM-SCP Laura Wells

Baby Boomers Businesses are selling… According to the US Census Bureau, the growth rate of the 65-and-over population will continue to be three times greater than that of the total population growth rate through 2030. Additionally, 40 million baby boomers will join the “senior” ranks by 2030, growing the segment to 74 million. Visit “BizBuySell dot Business” to explore a list of Franchise Resales.

Our co-founder Steven Goh is sharing why our product is so powerful to disrupt the industry. He is referring to the insightful article by Financial Planning, in which you discover how the aging U.S. population is reshaping wealth management strategies. You gain insights into the evolving landscape and its implications for financial planning. Direct link to the article: https://lnkd.in/gT2DAenD #WealthManagement #AgingPopulation #FinancialPlanning #AIinFinance #YRBL

The U.S. Census Bureau reports that 2024 is set to mark a historic high in the number of Americans turning 65, with an unprecedented 12,000 individuals celebrating this milestone each day, totaling approximately 4.4 million for the year. Additionally, findings from the report reveal that 93% of older adults consider aging in place a crucial objective. This underscores the growing importance of initiatives aimed at promoting safety and independence for the aging population. #aginginplace #livinginplace

"The average American retires at age 62— not old enough to qualify for Medicare but still four decades deep in the workforce. As previously reported by USA TODAY, the Transamerica Center for Retirement Studies found a five-year gap, 67 and 62, between when older workers expect to retire vs when they actually retire. "Older Americans who are retired or nearing retirement—those 65 and older—make up 18% of the population, a total of 62 million adults, according to the U.S. Census Bureau. "Where does America's retired population live in the U.S.? Census Bureau data gives insight into where older generations call home: "Maine is home to the oldest population on average, followed by Puerto Rico, New Hampshire, Vermont, West Virginia and Florida. "The median age group in Maine is 45.1— 43.9 for men and 46.4 for women. Although mid 40's is not nearly close to the standard 'retirement age,' it's about 6 years older than the median age of all Americans, according to Census Bureau data. "Utah is home to the youngest population on average, with the average man aged 31.4 and the average woman aged 32.7." #retirementcommunity

The world's demographics are undergoing a significant transformation, with many developed countries facing aging populations, while some developing countries are experiencing a surge in working-age populations. This article tries to capture the challenges that this demographic shift will bring in supporting retirees with a shrinking workforce, policy overhauls that are needed related to pensions, retirement ages, and immigration to ensure sustainability and economic growth. #strategy #change

The world's demographics are undergoing a significant transformation, with many developed countries facing aging populations, while some developing countries are experiencing a surge in working-age populations. This article tries to capture the challenges that this demographic shift will bring in supporting retirees with a shrinking workforce, policy overhauls that are needed related to pensions, retirement ages, and immigration to ensure sustainability and economic growth. Click on this NYTimes piece to read further. #betterworkingworld

Shifting Demographics 🗣️ By 2030, 30% of New Mexico’s population will be over the age of 60. Many have been in a stable career and are unfamiliar with how to find new opportunities, volunteer in their communities, function as a consultant, and some need extra income upon retirement. ♾️ https://loom.ly/CJ4LkT0 The average age for retirement is 62 to 65 in the US. 80% of Baby Boomers indicate they intend to keep working after retirement. AARP NM reports that 1 in 4 (25%) retire into poverty, so they must continue working. The group of people defined as seniors spans an age range from 50 to 100 and older. People are living, learning, and working longer than previous generations of seniors. NM-NEW will create an easy and accessible way for retirees to engage at the pace they want and will provide support to the business and nonprofit sectors, bringing meaning and purpose to those who participate. ♾️ https://loom.ly/CJ4LkT0