How to find retirement statistics?

[IronLionZion]

Does anyone know the best way to go about answering this question:

How many Americans are retiring each month (or year or whatever)?

I'm having a hard time finding any reliable info on this. Any ideas evilDUers? Is this a stat that is measured by someone? Around 1/4 of our population are baby boomers. The impact on our economy, jobs, social programs, stock market, etc. is going to be significant and interesting to study. I'm curious.

Possible sources:
Bureau of Labor Statistics data
Job quits after age 65
Enrollment for social security retirement benefits
IRS payroll tax data
AARP data
401K or IRA withdrawals


The 10,000 boomers a day number sounds like BS. That may have been the births long ago, but a lot can happen in 65 years between birth and retirement. Plus people retire at different ages, or work part-time or something.

[OnlinePoker]

1. I read the following article about the 10k figure and Boehner's statement about it

They're pretty much counting the average of all people in the baby boom that will reach retirement age. Here's the most relevant passage from the article:

"Census data collected by Pew indicates the estimated number of retires could be even greater than 10,000 per day. According to Pew’s data, 76 million people were born in the United States between 1946 and 1964. After subtracting those who died and adding immigrants born during those years, America has 79.6 million people of that generation.

If you divide 79.6 million by 19 years (the number remaining until 2030), then divide that by 365 days, you get a daily average of 11,476 people turning 65. Although not everyone in that age group will live to reach age 65, the amount who will end up retiring each day could significantly exceed Boehner’s 10,000 per day figure."

http://www.politifact.com/ohio/statements/2011/sep/26/john-boehner/house-speaker-john-boehner-says-10000-baby-boomers/

[IronLionZion]

2. 300,000 to 330,000 retirements a month

is insane. The economy is adding jobs and subtracting workers. I've even read articles claiming there is an impending labor shortage in the next few years in many fields. That would have profound effects on all sorts of things.

[OnlinePoker]

3. If I had children, I'd be directing them into elder care professions

That is where the big growth is going to be in the coming years.

[mahatmakanejeeves]

4. The Statistical Abstract of the United States

Try the Census Bureau.

The Statistical Abstract of the United States

But:

What is the Statistical Abstract?

The Statistical Abstract of the United States, published since 1878, is the authoritative and comprehensive summary of statistics on the social, political, and economic organization of the United States.

Use the Abstract as a convenient volume for statistical reference, and as a guide to sources of more information both in print and on the Web.

Sources of data include the Census Bureau, Bureau of Labor Statistics, Bureau of Economic Analysis, and many other Federal agencies and private organizations.

The U.S. Census Bureau is terminating the collection of data for the Statistical Compendia program effective October 1, 2011. The Statistical Compendium program is comprised of the Statistical Abstract of the United States and its supplemental products - - the State and Metropolitan Area Data Book and the County and City Data Book. In preparation for the Fiscal Year 2012 (FY 2012) budget, the Census Bureau did a comprehensive review of a number of programs and had to make difficult proposals to terminate and reduce a number of existing programs in order to acquire funds for higher priority programs. The decision to propose the elimination of this program was not made lightly. To access the most current data, please refer to the organizations cited in the source notes for each table of the Statistical Abstract.

Sources of Data

The Abstract is also your guide to sources of other data from the Census Bureau, other Federal agencies, and private organizations.

Guide to Sources
Federal Agency Statistical Reports
State Abstracts

[IronLionZion]

5. There is some useful info in SSA's Research, Statistics, and Policy Analysis

http://www.ssa.gov/policy/index.html

Under their annual supplement released in 2013, which covers the info for year 2012.
http://www.ssa.gov/policy/docs/statcomps/supplement/2013/index.html

Social security benefits of all types increased by 1,353,705 in the year from December 2011 to December 2012. That number includes surviving spouses and disability. That's an average of 112,808 per month enrolling in the SS benefits of some sort.

I also read an interesting article about "Encore careers" where senior citizens leave or are forced out of their long-time careers but have no interest in retiring, so they do something else, usually charity or some sort of socially beneficial work for a lower salary but also lower stress and more personal fullfillment.
http://www.latimes.com/business/la-fi-encore-careers-20140708-story.html

I also think often about how the extraordinary rally in stocks might encourage some who had put off retirement, to finally retire since their investment accounts would be in better shape than before.