For the first time millennials have surpassed Baby Boomers as the nation’s largest living adult generation. There are now 72.1 million millennials according to the latest U.S. Census Bureau estimates.
“The Millennial generation continues to grow and will dominate trends for the next three decades,” states Jesse Slome, director of the American Association for Critical Illness Insurance. “Their insurance needs will be very different than those of Baby Boomers.”
Millennials were born between 1981 and 1996. In addition to those born in the U.S., immigration has expanded their numbers in recent years. There were 71.6 million baby Boomers at the end of 2019 and 65.2 million Generation X Americans. Generation Xers were born between 1965 and 1980.
“Baby Boomers are aging and their numbers are declining,” Slome adds. “Their numbers peaked at 78.8 million in 1999. But they are no longer the largest generation and by 2050 there will be around 16 million Boomers still alive.”
- Doug Myrick
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