THE CLOCK IS TICKING ON
The Journey Between 2006 and 2030….

U.S. Department of Census Facts…tick tock…

• 78.2 million people were born between 1946 and 1964.
• Every 7 seconds, someone turns 50 (that’s 4-5 million folks per year).
• 330 people turn 60 every hour (do the arithmetic).
• The population in 1946 was estimated at 141 million. Today’s population is estimated at 298 million.
• By 2010, 69 million people will be between ages 50 and 59 – that’s 1/4th of the population.
• The median age of an American in the workforce will reach 41.6 by 2012.
• By 2030, 57.8 million of the boomers will still be living of which 54.9% will be women.
• Today there are 3.3 workers for each Social Security beneficiary. By 2030, there will be 2.1 workers.

Retirements Loom in the Public Sector According to Pew Research

• In over half the states, one in five employees will be retiring over the next five years.
• In Tennessee, the number is a boggling 40%; Maine and Nebraska are close to that.
• Some states are paying close attention to workforce planning, but others, limited by budget cutbacks or simple lack of interest, have not made planning a priority. The best at planning? Georgia and Utah. The worst? Alabama and California.

Projected Private Sector Retirement Age by 2030

The Milken Institute suggests that, in the U.S., retirement might stabilize at age 68 if we increase productivity, and have enough mature workers earning income. It is far more likely that we will have to work into our '70's.

On Working Longer – Hear from an Economist, an Investor, a Futurist & Me!

"I believe that the aging population is the most critical issue facing the developed world." …Jeremy Siegel, Wharton Finance Professor and leading expert on stock markets. 2006

"So, we’re going to want to work longer. This adds trillions to our wealth." …Michael Milken, The Milken Institute. 2006

Project to 2030 and read what Glen Hiemstra, an internationally respected futurist and host of www.futurist.com has this to say: "Today (2030) age 65 is not old. In fact it is considered barely middle age! People are living and maintaining vitality, a phenomenon known as down aging. While as recently as 2001 a 65-year old could expect to live an average of another 20 years, today a healthy 65-old looks forward to an average of another 35-40 years."

Not only does the fact that 400,000 boomers per year are leaving places like California, Massachusetts and New York City negatively impact local economies but other states will have to figure out how to accommodate their growing graying populations. A list of the 2030 grayest states appears in the left column and the story of retirees and their migration patterns is covered in the column to the right.

Can We Count on Boomers to Continue to Spend as Time Goes By?

Only if they have the money! For most boomers, this means having a continued active income beyond (often) passive meager savings. According to Money Magazine, Boomers account for over half of U.S. spending. But, if they outlive savings because of longer lifetimes and the still accelerating costs of health care, all bets are off!

Why Glimpse the Years from 2006 through 2030?

Because this is all of the time left to fix what’s broken. Fleeting time, America’s deficit and the aging world demand planning and action! If there is to be a meaningful legacy for Gen X and Gen Y, there are two actions that are critical to begin this year – (1) prepare to work longer by thoughtfully planning your mature career contribution and (2) include tutoring in your work portfolio in order to help the children who will live in a future where knowledge and education will determine the winners and losers in the very different world of 2030.

WORK ON!