case study 1 hgd Essay

Many people in the "baby boomer" generation are staying active as they age. By either jogging, swimming or becoming part of a sports team. They strive to remain youthful and mentally young and view retirement as an active period of their life. Theirinterest in health , fitness, looking young and attractive and longevity is quite phenomenal. They can expect to live longer due to medical advances however stress and burnout could impact on this expectation of longevity. They are well educated, thirsty for information interested in travel and will want to stay involved in the political processes. In addition they are optimistic, forward thinking and undoubtedly redefine old age. As the oldest of the nation's 75 million baby boomers approach the age of 60, a Pew Research Center survey finds many are looking ahead to their own retirement while balancing a full plate of family responsibilities either raising children or providing financial and other

Another way the economy will suffer is through the increase need for health care and elder care. As the baby boomers get older, their need for these types of expenditures will increase as well. Consequently, this increases the national health care spending too. Another problem is that governmental entities will start to lose tax revenues that the baby boomers provided so considerably. There will also be an increase in the federal budget deficit. The government will be spending more while receiving less revenue from the baby boomers. Younger generations can expect tax increases to help cover Social Security and Medicare. Even after all of these problems, there is still the burden that the baby boomers are going to leave for the current generation and the ones to follow. This will then lead to lower average of living standards for the baby boomers, and the major assets of the baby boomers will begin to decrease in value since more people will be trying to sell their assets than people willing to buy them. Retailers will also be affected negatively by this movement. Retailers can expect to lose revenue since the baby boomers will probably not spend as much, and marketers will have a difficult time searching for more sources or creating new ideas to attract the younger generations. Although there have been efforts at correcting the problem with the graying of America, governmental reform is necessary to avoid the storm of

Since we know what baby boomers are, they are a very huge impact on todays society. To give example, they make impacts economically, Socially, and also Psychologically. There are many different reasons for this, and they are easy to understand exactly the impact they make on our daily lives.

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

The baby boomer generations started in 1943-1960 after world war two and the traditionalist felt safe they were able to have more babies than any other generation yet. They had so many newborn babies that a baby was born every nineteen seconds. This was the first time that mothers where able to enjoy their children and not have to worry about whether or not they could support them or that war would get in the way of a good living. There is also the idea that the baby boom was the result of the economy wanting to build up the number of its people so that they would be prepared for any war to come (Zemke, 2000).

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.

Before we can get into the juicy information pertaining to the fascinating period of Baby Boomers, we must first take a quick glance at what was happening before this occurred.The main event that came to a conclusion that had a significance to the world and is a recent and relevant topic to the Baby Boomer period was the end of World War II.World War II had been going on since 1939 when the Nazi army and the Soviet Union united invaded Poland, resulting in the British and French declaring war on Germany.The allies allow Hitler to commit illegal actions without deciding to go after him(they just sat and watch him invade and grow as the years went by).It seems over for the Allies until the Japanese decided to obliterate Pearl Harbor December

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.

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

I read an article of how will baby boomers change long-term health care? Baby boomers has already influenced current approaches to long-term care with its attitudes toward aging and financial preparedness for care in later life. As baby boomers reach age 65 is expected to increase in to the middle of the 21st Century.

The retirement tack boomers end up taking in coming decades will have a profound, but unknown impact on the economy. As Peterson says, “The forecasts range from impending doom to marketplace godsend.” Some predict that as baby boomers retire unemployment will fall and that this process should begin by the year 2002 and that labor shortages should emerge about 2005. This will continue to get worse as the number of people who retire exceed the number who enter the workforce (Generation).

There are some interesting points to make about this article and the ideas that it contains. The first is that the emergence of this generation is weighed against the concept of a traditional adulthood. The reality is that the 'traditional adulthood' view has only existed for a couple of generations and is more a construct of sociologists than a direct reflection of reality (Henig, 2010), which also means that it existed as the result of specific societal conditions. If it seems to a baby boomer than a young adult today should have a good career, house and family by the age of 25, that merely represents the ideals of their generation, not anything concrete that can or should be used as a measure of success. Before the Second World War, it was common to have a family before 20, and have begun apprenticing for a career by that point as well. Baby boomers were, by such comparisons, as confused and lazy as they accuse today's youth of being. Indeed, all generations are characterized by their own unique circumstances. If

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

The effect of the baby boom had mostly effects women. Magazines and advice books read “Don’t Be Afraid to Marry Young” or “Femininity Begins At Home.” This urged women to embrace their roles as mothers and to leave the workforce. The boom also caused the markets production of consumer goods to rise. Credit cards and televisions, new cars were what adults had mostly participated in buying and using. Marketers and manufacturers had their eyes on the group of boomer families.

Kyles (2005) defines them as competitive, political, hardworking, and nonconformists. “Known for their workaholic ethic, Boomers will do whatever it takes to get the job done and get ahead, and they expect to be rewarded. They outnumber all generations and hold a majority of management-level positions. They are also approaching retirement and are heavily concerned with financial and job security” (Kyles, 2005, p. 54). This group is very hard working and also offers a lot of wisdom that can be beneficial to those of the younger generations.