Chart of the Week: Baby Boomers Overwhelmed by Millennials

Chart of the WeekThis is the year that millennials will overtake baby boomers as the largest living generation. According to population projections released by the U.S. Census Bureau in December 2014, millennials (ages 18 to 34) will number 73.2 million in 2015, just ahead of the 74.9 million baby boomers (ages 51 to 69) left in America. Generation X (ages 35
to 50) is expected to surpass the baby boom generation by 2028.

Population Projections by U.S. Generation

 

Much of the millennial generation’s growth has come from young immigrants—as opposed to baby boomers, who are older and shrinking in size as deaths exceed the number of older immigrants arriving in the U.S. The millennial generation is expected to peak in 2036 at 81.1 million people, the same year that many of the silent generation (ages 70 to 87) will decline to a mere 5 million people. Baby boomers peaked in population in 1999 at 78.8 million, but by 2050 the population is expected to dwindle to 16.6 million.

Summary

  • In 2015, millennials are expected to surpass baby boomers and the largest living generation in the U.S.
  • Generation X (ages 35 to 50) is expected to surpass the baby boom generation by 2028.
  • Much of the millennial generation’s growth has come from young immigrants.
  • Baby boomers peaked in population in 1999 at 78.8 million, but the population is expected to dwindle to 16.6 million by mid-century.

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The opinions expressed are those of our investment professionals, and are no guarantee of the future performance of any American Century Investments® portfolio. This information is not intended to serve as investment advice; it is for educational purposes only.