Slide 14 of 38
Notes:
In 1990 there were more than 900,000 older boomers and over 1.1 million younger boomers.
Difference in ages means their experience of history is different. For example,
- 1963, Kennedy shot/ King’s “I have a dream” speech: Older (8–17); Younger (unborn–7)
- 1969, Armstrong on the moon: Older (14–23); Younger (5–13)
- 1973, US out of Vietnam: Older (18–27, that is old enough to be drafted and go); Younger (9–17, not old enough for the draft)
The older boomers got more resources in their younger years, and this will probably continue into retirement. For example, if many of the older boomers sell their houses for retirement income, it will likely drive down the value of real estate for those who sell after them. The same principle will likely apply to those with other types of investments. The older boomers will reach their late 70s or early 80s in the years when Social Security can be sustained under the current system. Changes in Social Security will be needed to protect the benefits of the younger boomers, in their late 60s and early 70s.
