A recent study from the MetLife Mature Market Institute calls boomers born between 1952 and 1958 the “middle child” of the boomer generation. Despite being the largest segment of the boomer generation (about 29 million members, or 38 percent of all boomers), they are frequently lumped together with the other demographics. According to the study, while these middle boomers share some characteristics with the oldest and youngest cohorts, they are unique.
While younger boomers are still far more likely to have one or both of their parents still alive, nearly two-thirds of middle boomers do. Furthermore, over half have children living at home and 48 percent have grandchildren.
The study found middle boomers’ top retirement concern was being able to afford health care; one-quarter of boomers surveyed said this was their biggest fear. No surprise there, but middle boomers are more concerned with staying productive than they are with retirement security. Only 9 percent of boomers are concerned about having a comprehensive financial plan and only 12 percent said they were worried about outliving their retirement income.