Calculating Age in 2024 if Born in 1987 The Ultimate Guide

One of the most common questions financial planners encounter is about age calculation. Whether planning for retirement, insurance, or another financial milestone, knowing your exact age is crucial. But how do you determine your age in 2024 if you were born in 1987? This comprehensive guide is designed to help Gen Z and Millennials, as well as financial planners, understand the nuances of age calculation and its implications for financial planning.

The Importance of Age Calculation

Accurate age calculation can significantly impact financial planning. Whether it’s preparing for retirement, setting up insurance policies, or planning investments, knowing your age helps you make informed decisions. For Millennials and Gen Z, understanding this simple yet vital detail can set the foundation for a secure financial future.

Basic Age Calculation

The most straightforward way to calculate your age is by subtracting your birth year from the current year. For instance, if you were born in 1987, and you’re calculating your age for 2024, you would simply subtract 1987 from 2024.

Example Calculation

Let’s break it down:

2024 – 1987 = 37

Therefore, if you were born in 1987, you would be 37 years old in 2024.

Why Accuracy Matters

You might wonder why it’s essential to calculate your age down to the exact year. Financial planners often need precise data to provide accurate advice. Missing out on even one year can affect various aspects of financial planning, including investment opportunities, retirement benefits, and insurance premiums.

Financial Milestones by Age

Different age groups have various financial milestones. For instance, people in their 30s might focus on buying a home, while those in their 40s might prioritize retirement savings. Knowing your exact age helps you align with these milestones.

Age 37 Milestones

At 37, many people are at a crucial point in their financial lives. This age is often marked by the following milestones:

  • Homeownership: Many are either buying their first home or upgrading to a larger one.
  • Career Advancement: This is a peak time for career growth and salary increases.
  • Family Planning: Many are starting or expanding their families, which comes with financial responsibilities.

Impact on Retirement Planning

Knowing your age helps you plan effectively for retirement. At 37, you’re likely thinking about maximizing your retirement contributions and investment strategies. Financial planners use your age to determine the best retirement plans and when to start taking distributions.

Insurance Considerations

Age significantly impacts your insurance needs and premiums. At 37, you may need to review your life insurance, health insurance, and even disability insurance. Financial planners can provide tailored advice based on your exact age.

Investment Strategies

Your age influences your investment strategy. Younger individuals can afford to take more risks, while those closer to retirement should consider more conservative investments. At 37, you’re in a unique position to balance risk and security in your portfolio.

Understanding Age-Related Benefits

Certain benefits are age-specific. For example, you become eligible for Social Security at different ages, and understanding these timelines helps you plan better. At 37, you’re likely focused on maximizing these benefits for future use.

Common Mistakes in Age Calculation

One common mistake is forgetting to account for the month of birth. If you’re calculating your age in January 2024 but were born in December 1987, you would still be 36 until your birthday in December.

How to Avoid This Mistake

Always consider the month and day when calculating age. Financial planners often use age calculators that account for these factors to provide accurate information.

Tools for Accurate Age Calculation

Several tools can help you calculate your age accurately. Financial planners often use specialized software, but there are also simple online calculators available. These tools consider the exact birthdate to provide precise age calculations.

Using Age Calculators

Online age calculators are user-friendly and offer quick results. Simply input your birthdate, and the calculator will do the rest. This is especially useful for financial planners who need to provide accurate data quickly.

Benefits of Professional Guidance

While calculating age might seem straightforward, professional guidance ensures accuracy, especially for financial planning. Financial planners can provide insights into how your age affects various financial decisions, from investments to insurance.

Why Consult a Financial Planner

Consulting a financial planner offers several benefits:

  • Expert Advice: Financial planners provide tailored advice based on your age and financial goals.
  • Accurate Calculations: Professionals use specialized tools to ensure precise age calculations.
  • Comprehensive Planning: Financial planners consider all aspects of your financial life, ensuring a holistic approach.


Calculating your age in 2024 if you were born in 1987 is more than just a simple math problem—it’s a crucial step in effective financial planning. At 37, you’re at a critical juncture in your financial life, with significant milestones and opportunities ahead. Whether you’re a financial planner, Gen Z, or Millennial, understanding how to calculate age accurately can help you make informed decisions for a secure financial future.

Ready to take control of your financial future? Start by calculating your age correctly and consult a financial planner to align your financial strategies with your life stage. Knowing your exact age is the first step towards a well-planned, prosperous future.