The Baby Boom Generation : Then Vs. Now

BABY BOOMERS were born during 1946-1964 and are in the 48-65 age range. Health, energy and wellness are major goals for them. Family values are very important to this generation. Many are becoming Empty Nesters since their children are leaving home. The necessity of having a family vehicle is not essential anymore.

In general, countries experiencing high fertility and rapid population growth, have a “young” population structure and the important policy considerations are if there are enough schools and, sufficient jobs and housing to accommodate this population. Countries with “old” population structures face the problems of structuring and developing retirement and health systems to serve this older population and also they have a considerable reduction the number of the working force. The decline of the work force is one of the most dramatic economic tendencies of the past four decades in the United States. The individual’s decision of whether to stay in the workforce or to retire is based on the collaboration of a number of factors including the following: eligibility for Social Security benefits, availability of and benefits under an employer-financed pension plan, work

Economic factors will play a role in baby boomers working beyond the age of 50. Due

After World War II, birth rates increased enormously over the whole world. During the baby boom, around 77 million babies were born in the U.S. More people in the country created more consumer demand, which made a big increase in manufacturing and production. The average income among people increased and made the demand greater. The baby boomers made a long-lasting economic growth that raised the standard of living in The United States and the world. The first baby boomers became eligible to retire in 2012 and will be different retirement compared to their parents the greatest generation. The retirement is different in ways like longer retirement, higher expectations, exotic investment options, deregulation, rising instead of declining interest rates, and personal saving instead of pensions.

The “pig in the python” describes the role of the baby boomers generation through time. As the baby boomers creep towards retirement age, a problem comes in being able to provide retirement services for a large population from a comparatively smaller population of workers. The baby boomers were a generation that defined America, contributing much to it’s growth but in return created plenty of problems that we will deal with for years to come.

In today’s society, the work industry is comprised of numerous generations from baby boomers to millennia’s. Due to reasons ranging from increased cost of living to political policies, Americans are being forced to work longer in order to obtain the social security benefits they’ve contributed to during their careers. Each generation has certain generational influences such as war times and civil rights for the baby boomers and social media and the technology boom for the millennia’s. One constant that has not changed, however, is that the average American has to work for a living, and with the evolution of the US economy, they are having to work longer and are retiring later.

Today, the certainty of receiving sufficient benefits solely from Social Security for a quality standard of living after retirement is indefinite. Baby boomers—individuals born post World War II between 1946 and 1964—are beginning to claim their benefits, and given what I have learned in class, the number of individuals entering the workforce is inadequate to sustain such a large population, thus such generation will consume

Following World War II, there was a major cultural shift throughout all of America, as society adjusted from living through the Depression and the War to newfound prosperity and opportunities. The country was thriving with new medical breakthroughs and technologies, as well as new forms of media spreading different ideas throughout the country like never before. This generation, created by the Baby Boom, had the freedom to do things their parents did not, and spend their free time on activities they wanted to. Without having to worry about working to help keep their family afloat or go to war, they were able to concentrate on art, music, sports and other materialistic aspects which has been the outline for our culture since that time. This transition caused the youth to create their own organizations and essentially their own society which looked completely different from anything America had seen in the past, this also created a lot of tension between the youth and their elders.

After World War II, Americans experienced a time of rapid social change. American soldiers were discharged and returned home from the battlefields, hoping to find work and to get on with their lives. Marriage rate increased dramatically after the war. North American population experienced what is known as the “Baby boom” – an 18-year period of rapid population growth from 1946 to 1964. During this period, many children were born than in the same period before or after. During the post war years, the United States embarked on one of its greatest periods of economic expansion. Many Americans had enjoyed economic prosperity. However, the United States has changed since 1950.

The aging of the baby boomers is not just a demographic issue. It has important economic implications. Owen and Griffiths (2010) argue that the baby boomers can best be seen as a generational bulge that occurred between 1946 and 1964. This generational bulge is so large that it drives the economy during each state of the baby boomers lives (p. 76). This suggests that the aging of the baby boomers is a demographic issue with important economic implications.

This generation is the healthiest and longest generation living in U.S. history in U.S. history. Due to the, vast population growth this has transformed and shocked the U.S. economy, because Baby Boomers are living longer and saving less. The populous generation spending creates a demand in the economy and lowers interest rates.

Jobs were lost, prices were raised, and even after many government attempts, things were not getting better. However, during the war, jobs and wages increased to help wartime needs and the gap between the classes grew smaller. This brought the growth of a middle class. More and more Americans now “...were flush with funds for buying houses and otherwise establishing families” (Brands 69). Being able to buy homes, for many Americans, is a symbol for prosperity. During this time of economic stability for the majority middle class, families grew and these children, called Baby Boomers, grew up in this environment of hope. These children didn't have to face the hardship their parents did and were able to live better lives based on the current strength of the American economy. The rise in consumers meant the rise in demand, “Much of the economic activity revolved around the physical needs and wants of the Baby Boomers and their families” (Brands 71). With the hope of their parents and the will to strengthen the economy and social equality, this continued dream of success was carried on. The ideas of success greatly vary between the aforementioned modern take and the ideas of the

During the Great Depression and World War II many Americans delayed marrying and having children because of the poor economy. The number of marriages and births soared after the war. Many older couples who had delayed having children began having them when the war ended. This increase in births among both younger and older American couples created the Baby Boom Generation. This large group of people born in the U.S. from 1946 to 1964 amounted to 76 million children. Those born during this time make up approximately 36% of today’s population (Deutsch). What impact has this had on the economy? Read on to see how the baby boom generation has affected the economy and what will happen as they retire.

Baby Boomers have been one of the most powerful forces in shaping the economic environment and are the wealthiest generation in the United States (Kotler and Armstrong, 2015). “In their early years, “Leading Edge” Boomers enjoyed economic prosperity, and their resulting financial power in their prime years drove rising trends in everything. However, the recessionary years of the early 1970’s also added cautionary realities to their youthful consumption and employment dreams” (“America’s Oldest Boomers”, n.d.). Baby boomers control approximately 70% of the disposable income in the United States, therefore, they are known as being one of the most influential financial forces in the marketplace (“Baby Boomers Report”, 2015). As they reach their

While the “Greatest Generation” is a title often given to those Americans who lived and died during the era of the Great Depression and World War II, their offspring, the “Baby Boom” generation, significantly shaped and improved the American landscape as well if for no greater reason than the sheer number of people who make up this population (Steinhorn, 2006). Today, based predominantly on that very same reason, the baby boomer population is now making a very different, yet equally as profound impact on American society. More