It is estimated that there are nearly 80 million baby boomers in the United States, most of who are rapidly reaching the age of retirement. At least 10,000 baby boomers will turn 65-years-old each day for the next 15 years.
Of these 80 million baby boomers, 67 percent of them will be downsizing or rightsizing their residence each year.
A majority of these transactions will require the baby boomer to complete a financial statement to demonstrate their financial condition. That’s where the banks need to catch up with retirement.