Johnson & Johnson JNJ -0.08% is the tenth most popular stock among Baby Boomers — the generation born between 1946 and 1964 — making up 0.9% of the average Boomer’s stock portfolio, according to TD Ameritrade. Two key facts make a strong case for why the healthcare giant ranks with this group but not their younger counterparts.
First fact: Boomers are turning 65 at a rate of about 10,00 per day. That trend is expected to continue until around 2030, according to Pew Research.
Second: Last year Fidelity Benefits Consulting estimated a 65-year-old couple will need an average of $220,000 to pay for medical expenses throughout retirement.
The healthcare giant ranks 14th for Millennials’, the youngest adult generation, and 22nd for Gen Xers, the generation just behind Boomers. Johnson & Johnson, however, is even more popular with people over 70 making up 1.1% of a Senior’s portfolio on average.
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