Boomers planning to get 'old' at age 78

Dec. 29, 2007 at 12:31 AM
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WESTPORT, Conn., Dec. 29 (UPI) -- Baby boomers, who once advised each other not to trust anyone over 30, say on average, they will get "old" at age 78, a U.S. survey found.

The MetLife Mature Market Institute survey polled boomers born in 1946 -- who can now apply for regular retirement benefits from Social Security along with President George W. Bush, First Lady Laura Bush, former President Bill Clinton, Cher, Diane Keaton, Dolly Parton, Linda Ronstadt, Liza Minnelli, Reggie Jackson, Sally Field, Sylvester Stallone and Donald Trump.

Seventy-seven percent of boomers born in 1946 say they are in good to excellent health. Their net worth -- excluding home value -- is an average of $257,800 and their average annual income is approximately $71,400.

Five percent have both parents still living; 27 percent still have one parent living. Eighty-seven percent say neither they nor their spouse are caregivers to elderly parents or relatives right now. Of the 14 percent who are caregivers, 16 percent of them are providing care for more than 20 hours a week -- the average number of hours is 9.5.

The telephone survey of 1,000 people age 61 was conducted by GFK Custom Research North America in November has a margin of error of plus/minus 3 percent.

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