2024 Research
Key Findings
Living Life With Purpose
Among the findings of the research:
- There was strong consensus among younger (aged 60-69) and older (aged 70-78) Boomers to live life with purpose. For example:
- 96% of younger Boomers prioritize spending time with family, as do 98% of older Boomers.
- 94% of younger Boomers prioritize traveling, as do 90% of older Boomers.
- 95% of younger Boomers make a point of eating healthy; 92% of older Boomers do the same.
- In some cases, defining how to live life with purpose differed among Boomers based on their age
range:
- 66% of younger Boomers make a point to try new hobbies compared to 46% of older Boomers.
- 56% of younger Boomers participate in mindfulness activities like yoga or meditation, while only 39% of older Boomers do.
- 67% of younger Boomers choose to volunteer compared to 55% of older Boomers.
Retirement Finances
On the financial front:
- 59% of younger and older Boomers want to leave their family or loved ones a significant amount of money.
- But 55% of younger Boomers hope to spend as much of their money as they can while only 46% of older Boomers felt that way.
- Generally, older Boomers feel more financially secure than younger Boomers:
- 89% of older Boomers think they will have enough money for health care expenses compared to 79% of younger Boomers.
- 86% of older Boomers believe they will have enough money for any travel or other activities they want to do compared to 80% of younger Boomers.
Retirement Age
And in terms of the timing of their retirement:
- 28% of younger Boomers retired earlier than they expected compared to 35% of older Boomers.
- 53% of younger Boomers retired at about the age they wanted to, while 51% of older Boomers did.
- 19% of younger Boomers retired or will retire older than anticipated compared to 35% of older Boomers who retired older than anticipated.
Lifestyle Priorities
