Statistically, baby boomers are the largest generation in American history. They count roughly 77 million and manage a significant amount of the wealth and spending capability of the overall economy. As this generation enters retirement, the changes in their spending power are likely to generate an apparent impact on the economic system as a whole.
Baby boomer statistics reveal a good deal relating to this enormous and significant generation. To begin with, those specified as baby boomers are the product of the "baby boom" that was a steep rise in the birthrate in the United States, North America, and much of western European countries following World War II. Baby boomers are sometimes further divided into two groups. A first cohort simply called "baby boomers" are those born in the first half of the period between 1946 and 1964, while the ones born in the other half of the period are called "Generation Jones."
The "Generation Jones" nomenclature comes from the writer and journalist Landon Jones who created the term baby boomer in his book "Great Expectations: America and the Baby Boom Generation." Generation Jones members would have no memories of wars until the outbreak of the battle in Vietnam.
By far the most substantial of baby boomers statistics is their sheer size. Baby boomers number just about 77 million people. Because of their figures they obviously play a very large role in politics, the economic system, as well as the culture itself. As they now are passing beyond middle age, they will imply greater demands for geriatric medical care plus more strain on entitlement programs like Medicare insurance and Social Security.
The economic impact of the baby boomers cannot be overlooked. In America alone, over 50% of the discretionary spending power rests with the baby boomers plus they are accountable for over half of all consumer spending. In the area of medicare, baby boomers purchase 61% of over the counter medications and an astonishing 77% of all prescription medications. Even their vacation habits play a major role in the economy with boomers comprising around 80% of all leisure travel.
With baby boomers beginning to get older and approach and enter retirement, there are issues that their decreased spending power may have a negative effect on the economy. As well as the baby boomers are aging. Roughly a baby boomer in the United States turns 50 every 8.5 seconds! There's no question that these "Golden Boomers" are likely to impact all areas of American life now and for nearly the next twenty years.
Baby Boomers Encompasses A Span Of Over Two Decades
The age of the baby boomers encompasses a span of over 20 years. This generation includes individuals in their mid to late 40's to those in their 60s. And while many are still in the workforce, those in their 60's are contemplating the lifestyle changes associated with retirement.
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Effect Of Digital Age On Generations X And Y
Generations X and Y vary greatly in size, with generation Y being much larger. Both generations are well into the age of computers and cellphones with generation Y used to them from their births. Both generations face the uncertainties caused by a shortage of jobs from downsizing
The Future Of The Retiring Baby Boomers
As over seventy-seven million baby boomers retire, they will have a significant impact on the US economy. The health care needs alone, of this aging population group will make demands on an already weakened economic system. And the health care system itself could easily be overwhelmed.
What Are The Baby Boomers Generations?
The baby boomer generations can be divided into the initial group of people born in the first half of their generation and the "Jones Generation" born in the second half. More recently, the "Golden Boomers" have been identified as those in or nearing retirement.
Plans For The Alarming Number Of Baby Boomers
Baby boomer ages range from the mid forties to the mid sixties. Some are still raising children while others have grown children and grandchildren. This largest generation in American history will impact society with all the issues of their retirement.
Baby Boomers: What Does This Term Truly Stand For
While pretty much everyone has heard the term, many may not be certain about just what it means the baby boomers? From the name it is obvious that this has something to do with birthrates and that is exactly how the United States Census definitions just who and what is a baby boomer.
The Issues That Baby Boomers Are Confronting
The members of the country's largest generation are now at middle age or beyond. As baby boomers age, they will be faced with adapting to the needs and demands of their age groups. Aging means responding to both financial and physical changes that need to be addressed.
Baby Boomers' Retirement: Some Large Effects On American Economy
The time has finally arrived for the beginnings of the baby boomers to reach retirement age. The first cluster of baby boomers is reaching 65 and the traditional age of retirement. Through the financial success of their generation, many have been able to take an even earlier retirement.