Last week, baby boomers, I offered up to you a snapshot of what is considered the "average" 50 year old plus male in our world, the good old United States of America.
As promised, today I will do the same for our female population.
Let’s jump right in OK?
What is the make-up (I know bad pun) of the average baby boomer woman in the United States?
Like my article on the men, we are not going to get too serious here.
We are just going to look at a few interesting verities that hopefully shine some light on what many consider the dominant sex.
These are not meant to be meticulously researched and scientifically documented facts but an amusing and diverting look at the world around us.
First of all, some general news about baby boomer women.
In a Reuters study by Mark Miller called "Demographics" he found that the "Fifty-plus American women" are the "healthiest, wealthiest and most active generation of women in history."
In 2009, the population of women aged 45–64 years totaled over 42 million or 26.8% of 158 million women in US of A.
Of those 42 million women, almost 13 million were in the labor force (working or looking for work).
Labor force participation rates for women over 55 years of age continue to increase.
Their labor force participation rate was 25.6% in 1999, 30.5% in 2004 and 35.6% in 2009
At the age of 50, the average U.S. woman’s height is 5 feet 3.4 inches tall.
The average weight of a woman at age 50 is 150 lbs and at age 60 is 155 lbs.
Based on body mass index and desirable body weight formulas, the average 50 year old woman in the nation weighs more than her desirable body weight.
I think I have heard that somewhere.
According to a 2005 study by the National Center for Health Statistics, A 50-year-old female can expect to live 82.5 years while her male counterpart is only expected to live 78.5 years.
In almost every country in the world, the life expectancy for women is higher than men.
For virtually all causes of death at all ages, mortality rates are higher for men.
Scientists aren't entirely sure why this is the case, but believe it might have to do with the presence of estrogen in the female body improving immune function.
Over 60 percent of college degrees awarded in the U.S. every year are now earned by women.
It has been documented that women are more likely than men to get a high school diploma as well, and the numbers are only expected to rise in the coming years.
In fact, the two highest IQ's ever recorded, through standardized testing, both belong to women.
Do you want to know what else makes women in general a very interesting species?
Over 3 million women in the USA sport tattoos.
Women over the age of 45 currently hold 17% of Congressional and Senate seats and 18% of gubernatorial positions in the U.S.
There is a vast majority of folks in this country that believe that a woman will hold the presidential office come the next election.
While women are still underrepresented in political life, the current state of political affairs is a far cry from a time when women weren't even allowed to vote — a mere 90 years ago.
So how does the financial picture look for women that have reached the 50+ age barrier?
This will blow your mind.
In a 2007 MassMutual Financial study they found that senior women age 50 and older control net worth of $19 trillion which is 90% of the country’s net worth and own more than three-fourths of the nation’s financial assets.
I know there are men reading this saying "seriously, they must have gotten it from their dead sugar daddies or husbands?"
In a study called "Women of Wealth" in 2004, by Russ Alan Prince and Hannah Shaw Grove 743 wealthy women were interviewed with each having at least $3 million in investable assets.
61% accumulated their fortunes through corporate employment, their own or a family business or a professional practice.
Only 38.8% of the women had married into or inherited their money.
Since women outlive men by an average of five years, we can expect that we will live to see a time in the very near future when 80-90% of women will be in charge of their family’s financial affairs.
Disposable incomes are highest for women aged 45-54 as well.
Once the college bills are out of the way and children launch their own households, the discretionary spending power of 50-plus women soars.
They spend 2.5 times what the average person spends.
According to Marti Barletta, author of "Primetime Women" baby boomer women are now the primary buyers for computers, cars, banking, financial services and a lot of other big-ticket categories.
"Baby boomer women have stepped to the forefront as the force in making consumer purchasing decisions, making the purchasing decisions on 91% of homes, 60% of cars and 51% of electronics in the United States."
That's an estimated $20 trillion annually.
"Boomer" women spend more than $55 billion per year on consumer electronics
Women over 50 spend $21 billion on clothes annually.
Men spend on average $14.75...........Just kidding.
Sorry, I had to throw that one in for the men ladies!
Did you know that America is growing older and most older Americans are women because women are living longer than men?
Today, the average life expectancy at birth is 79.4 years for women and 73.9 years for men.
Life expectancy is expected to increase into the next century, and it is likely to increase at a slightly higher rate among women.
The number of Americans age 55 and older will almost double between now and 2030 – from 60 million today (21 percent of the total US population) to 107.6 million (31 percent of the population) – as the rest of the baby boomers reach retirement age.
Today, three out of five are women.
Not only do women have a longer average life expectancy than men, they tend to marry men older than themselves.
By age 55, 95% of all U.S. women have married.
51% are moms.
7 out of 10 baby boomer women are expected to outlive their husbands.
Thus, many can expect to be widows for 15 to 20 years.
The over 50 year old woman represents the fastest growing player in the social media online market.
Here’s some examples of what "Baby Boomer Digital Divas" are doing by the numbers:
22% shop online at least once a day.
92% pass along information about deals or finds to others.
171: average number of contacts in their e-mail or mobile lists.
76% want to be part of a special or select panel.
58% would throw away their TV if they had to get rid of one digital device.
40% are regular viewers of ESPN sporting channels.
43.2 % of all older women are NFL fans.
46% of all NFL merchandise is purchased by older women.
But, older women are not all entirely engrossed in just the electronic world of today.
55% spent time reading some form of literature within the last year.
66% are making the majority of home renovation decisions.
57% gardened within the last year.
Not everything is coming up roses for female boomers, however.
Sadly, baby boomer women are victim of the largest income disparity in the US.
More than 70% of residents in the U.S. over the age of 55 with incomes below the poverty level are women.
But what is perhaps even more significant is that more than half of elderly widows now living in poverty were not poor before the death of their husbands.
In 2008, a Centers for Disease Control and Prevention (CDC) study on depression showed a nearly 31 percent increase in suicide rates for women aged 45 to 54.
Researchers are investigating the increased use of prescription drugs as a possible cause.
Overall, 1 in 3 women over 50 will experience osteoporotic fractures in their lifetime, as will 1 in 5 men
Strangely enough, my research on women over the age of 50 was much more difficult than it was for men.
It appears that there needs to be a lot more study on this powerful and growing demographic.
I'm sure there are many more interesting facts and figures about women over the age of 50 that I missed?
If you know of any please add them to my comments section below.
If you found my blog helpful, interesting or even funny I bet your friends would to.
It's easy to tell them about it.
Forward it on to them or just email them my link at www.survive55.com.
The more Baby Boomers we can help, the better place we make this world !!!
Thanks for joining me..........................................................