Tuesday, December 11, 2012

Nice graph showing the number of people turning 65 on a daily basis. This is important in the discussion of Social Security and Medicare. It is a numbers game---in terms of people and dollars.

Lately I have been talking to students about the fact that everyday there are greater numbers of Baby Boomers turning 65 years old, but I have never seen any actual numbers.  There is lots of talk about the "leading edge" of this generation that is going to put a financial strain on the Social Security and Medicare systems. This is a numbers game--in people and dollars.

I think I see that leading edge in the graph below--the year 2012. 

This graph shows, over time and on a DAILY basis, the number of people turning 65. For instance, in 2000, a little over 5,000 people had their 65th birthday.   In 2007-2008 there was a bump up in the number that was sustained for 4-5 years.  BUT notice what happens in 2012. The daily number leaps up to 8,000 per day and you can see what happens from that point forward. One giant step for the birth of mankind!

So, what year was so special that in 2012 we have so many more people turning 65 at the same time. Well, subtract 65 from 2012 and you get 1947.  Just after "The Big One". 

My cohort is 2025 (I was born in 1960).  We have our own special little bump in the daily retirement rate. Wonder what was going on then??

Source: The Economix

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