April,2024
The Peak Boomers Impact Study
The Peak 65 Economic Impact Study: A Majority of Peak Boomers Are Not Financially Prepared for Retirement and Their Retirements Will Have Large Effects on the U.S. Economy
Executive Summary
From 2024 to 2030, the largest and final cohort of baby boomers—30.4 million “peak boomers” in 2022, born from 1959 to 1964—will turn age 65. This study examines how prepared they are to retire and the impact of their retirements on the American economy.
- The peak boomers are diverse: 52% are women and 48% men; 68% are white, 12% Black, 13% Hispanic, and 11% “Other;” and 32% have college or graduate degrees, 24% have some college or associate degrees, 36% graduated high school, and 9% have no diploma.
- Peak boomers’ incomes skew high and low: 36% have incomes under $50,000, including 11% below $5,000; 23% have incomes of $50,000 to $100,000; and 41% have incomes of $100,000 or more, including 13% over $200,000.
