Who:<\/strong> Grew up during the Civil Rights Movement and the Cold War \u2022 Born during a spike in child births after WWII \u2022 Created the term \u201cworkaholic\u201d \u2022 The largest generation \u2022 Single largest economic group \u2022 Sometimes referred to today as \u201cEmpty Nesters\u201d \u2022 From 1946 to 1964 is the postwar baby boom, with birth rates starting to drop around 1960. Definition<\/strong> Characteristics<\/strong> Cultural identity<\/strong> It is jokingly said that, whatever year they were born, boomers were coming of age at the same time across the world; so that Britain was undergoing Beatlemania while people in the United States were driving over to Woodstock, organizing against the Vietnam War, or fighting and dying in the same war; boomers in Italy were dressing in mod clothes and “buying the world a Coke”; boomers in India were seeking new philosophical discoveries; American boomers in Canada had just found a new home and escaped the draft; Canadian Boomers were organizing support for Pierre Trudeau. It is precisely because of these experiences that many believe those born in the second half of the birth boom belong to another generation, as events that defined their coming of age have little in common with leading or core boomers. Key Characteristics:<\/em> experimental, individualism, free-spirited, social cause oriented Aging and End-of-life Issues<\/strong> Impact on history and culture<\/strong> The Baby Boomers \u2013 What a Strange Trip<\/strong> Real Median Family Income by Cohort<\/strong>: Boom Generation Yet a fuller explanation require mentioning three collective personality traits that define Boomers as a generation\u2014and that gathered force moving from first wave to last. The G.I.s wanted to be away from their kids and near their peers\u2014which led to the construction of vast age-restricted desert communities like Sun City and Leisure World. Boomers want to be away from their peers and near their kids\u2014indeed, many of their Millennial kids just refuse to leave. As developers prep their active-adult communities for the coming late wave, they can expect less affluence, somewhat greater ethnic diversity, a weaker middle class, and, perhaps eventually, an abandonment of the very word \u201cretirement.\u201d Who: Grew up during the Civil Rights Movement and the Cold War \u2022 Born during a spike in child births after WWII \u2022 Created the term \u201cworkaholic\u201d \u2022 The largest generation \u2022 Single largest economic group \u2022 Sometimes referred to … Continue reading
\nPopulation:<\/strong> 76 million \u2022 Makes up 28% of Americans \u2022
\nCharacteristics:<\/strong> Run local, state, and national governments \u2022 Largest workforce \u2022 Believe rules should be obeyed unless they are contrary to what they want; then they\u2019re to be broken \u2022 Experimental \u2022 Individualism \u2022 Social cause oriented \u2022 Free spirited \u2022 Can be less optimistic, cynical, and distrust government \u2022 Want products and services that show their success \u2022
\nAt Work:<\/strong> Work ethic is measured in hours worked \u2022 Less importance placed on productivity \u2022 Teamwork is critical to success \u2022 Relationship building is important \u2022 Expect loyalty from those they work with \u2022
\nHistoric Events:<\/strong> Assassinations of JFK, Robert Kennedy, and Martin Luther King, Jr. \u2022 Cold War \u2022 Walk on the Moon \u2022 Vietnam War \u2022 Protests and Sit-Ins \u2022 Civil Rights, Women\u2019s, and Environmental Movements \u2022 Watergate \u2022 Nixon Resignation \u2022 Self-discovery <\/p>\n
\nBaby boomers are people born during the demographic post\u2013World War II baby boom approximately between the years 1946 and 1964, giving an age range between 51 and 70 as of 2016. The term “baby boomer” is also used in a cultural context. Therefore, it is impossible to achieve broad consensus of a precise date definition, even within a given territory. Different groups, organizations, individuals, and scholars may have widely varying opinions on what constitutes a baby boomer, both technically and culturally. Ascribing universal attributes to a broad generation is difficult, and some observers believe that it is inherently impossible. Nonetheless, many people have attempted to determine the broad cultural similarities and historical impact of the generation, and thus the term has gained widespread popular usage.
\nBaby boomers are associated with a rejection or redefinition of traditional values; however, many commentators have disputed the extent of that rejection, noting the widespread continuity of values with older and younger generations. In Europe and North America boomers are widely associated with privilege, as many grew up in a time of widespread government subsidies in post-war housing and education, and increasing affluence.
\nAs a group, they were the wealthiest, most active, and most physically fit generation up to that time, and amongst the first to grow up genuinely expecting the world to improve with time. They were also the generation that received peak levels of income; therefore, they could reap the benefits of abundant levels of food, apparel, retirement programs, and sometimes even “midlife crisis” products. The increased consumerism for this generation has been regularly criticized as excessive.
\nOne feature of the boomers was that they tended to think of themselves as a special generation, very different from those that had come before. In the 1960s, as the relatively large numbers of young people became teenagers and young adults, they, and those around them, created a very specific rhetoric around their cohort, and the change they were bringing about. This rhetoric had an important impact in the self perceptions of the boomers, as well as their tendency to define the world in terms of generations, which was a relatively new phenomenon. The baby boom has been described variously as a “shockwave” and as “the pig in the python.”
\nThe term Generation Jones has sometimes been used to distinguish those born from 1957 onward from the earlier Baby Boomers.<\/p>\n
\nThe phrase baby boom refers to a noticeable increase in the birth rate. The post-war population increase was first described as a “boom” by Sylvia F. Porter in a column in the May 4, 1951, edition of the New York Post, based on the 2,357,000 increase in the population of the U.S. in 1950. According to the Oxford English Dictionary, the first recorded use of “baby boomer” is from 1970 in an article in The Washington Post. Various authors have delimited the baby boom period differently. The United States Census Bureau considers a baby boomer to be someone born during the demographic birth boom between 1946 and 1964. Landon Jones, in his book Great Expectations: America and the Baby Boom Generation (1980), defined the span of the baby-boom generation as extending from 1943 through 1960, when annual births increased over 4,000,000. Authors William Strauss and Neil Howe, well-known for their generational theory, define the social generation of Boomers as that cohort born from 1943 to 1960, who were too young to have any personal memory of World War II, but old enough to remember the postwar American High.
\nIn the U.S., the generation can be segmented into two broadly defined cohorts: The Leading-Edge Baby Boomers are individuals born between 1946 and 1955, those who came of age during the Vietnam War era. This group represents slightly more than half of the generation, or roughly 38,002,000 people of all races. The other half of the generation was born between 1956 and 1964. Called Late Boomers, or Trailing-Edge Boomers, this second cohort includes about 37,818,000 individuals. An ongoing battle for “generational ownership” has motivated a handful of marketing mavens and cultural commentators to coin and\/or promote their own terms for sub segments of the baby-boomer generation. These monikers include, but are not limited to, “golden boomers”, “generation Jones”, “alpha boomers”, “yuppies”, “zoomers”, and “cuspers”. Advocates of these “cultural segments” are often zealous and overstated in their attempts to redefine generational boundaries, often claiming wide adoption and sometimes advancing self-promotional agendas.
\nIn Ontario, Canada, one attempt to define the boom came from David Foot, author of Boom, Bust and Echo: Profiting from the Demographic Shift in the 21st century, published in 1997 and 2000. He defines a Canadian boomer as someone born from 1947 to 1966, the years that more than 400,000 babies were born. However, he acknowledges that is a demographic definition, and that culturally it may not be as clear-cut.
\nDoug Owram argues that the Canadian boom took place from 1943 to 1960, but that culturally boomers (everywhere) were born between the late war years and about 1955 or 1956. He notes that those born in the years before the actual boom were often the most influential people among boomers; for example, musicians such as The Beatles, Bob Dylan, and The Rolling Stones, or writers like Jack Kerouac and Allen Ginsberg, who were either slightly or vastly older than the boomer generation. Those born in the 1960s might feel disconnected from the cultural identifiers of the earlier boomers. Bernard Salt places the Australian baby boom between 1943 and 1960, while the Australian Bureau of Statistics defines the boom as 1946 to 1964.
\nAnother definition for the Baby Boom is the decade after the Second World War, that is 1946 to 1955. This date range in the US correlates neatly with the strongest cultural identifiers of the boomer generation, i.e., the involvement of the US in the Vietnam War and the draft. In 1973, the U.S. both ended its draft and moved to an all volunteer army (the other services were already volunteer only) and ended its military activity in Vietnam. Of course, males born in 1953-1955 could not have foreseen the end of the draft or the war and “came of age” fully internalizing those events.<\/p>\n
\nSize and economic impact<\/strong>
\nSeventy-six million American children were born between 1945 and 1964, representing a cohort that is significant on account of its size alone. In 2004, the UK baby boomers held 80% of the UK’s wealth and bought 80% of all top of the range cars, 80% of cruises and 50% of skincare products.
\nIn addition to the size of the group, Steve Gillon has suggested that one thing that sets the baby boomers apart from other generational groups is the fact that “almost from the time they were conceived, Boomers were dissected, analyzed, and pitched to by modern marketers, who reinforced a sense of generational distinctiveness”. This is supported by the articles of the late 1940s identifying the increasing number of babies as an economic boom, such as a 1948 Newsweek article whose title proclaimed “Babies Mean Business”, or a 1948 Time magazine article.
\nThe age wave theory suggests an economic slowdown when the boomers start retiring during 2007\u20132009. Projections for the aging U.S. workforce suggest that by 2020, 25% of employees will be at least 55 years old.
\nBaby boomers control over 80% of personal financial assets and more than half of all consumer spending. They buy 77% of all prescription drugs, 61% of over-the-counter drugs, and 80% of all leisure travel.
\nA survey found that nearly a third of baby boomers polled in the United States would prefer to pass on their inheritance to charities rather than pass it down to their children. <\/p>\n
\nBoomers grew up at a time of dramatic social change. In the United States, that social change marked the generation with a strong cultural cleavage, between the proponents of social change and the more conservative. Some analysts believe this cleavage played out politically since the time of the Vietnam War to the mid 2000s, to some extent defining the political landscape and division in the country. Starting in the 1980s, the boomers became more conservative, many of them regretting the cultural changes they brought in their youth.
\nIn 1993 Time magazine reported on the religious affiliations of baby boomers. About 42% of baby boomers were dropouts from formal religion, 33% had never strayed from church, and 25% of boomers were returning to religious practice. The boomers returning to religion were “usually less tied to tradition and less dependable as church members than the loyalists. They are also more liberal, which deepens rifts over issues like abortion and homosexuality”.<\/p>\n
\nThe baby boomers found that their music, most notably rock and roll, was another expression of their generational identity. Transistor radios were personal devices that allowed teenagers to listen to The Beatles and The Motown Sound.
\nIn the west, baby boomers comprised the first generation to grow up with the television; popular Boomer-era shows included The Brady Bunch, Gilligan’s Island, The Twilight Zone, The Ed Sullivan Show, and Happy Days.
\nWhat world events over the past 50 years were especially important to them?
\nBaby Boomer cohort number one (born 1946 to 1955), the cohort who epitomized the cultural change of the sixties
\nMemorable events: the Cold War (and associated Red Scare), the Cuban Missile Crisis, assassinations of JFK, Robert Kennedy, and Martin Luther King, Jr., political unrest, walk on the moon, risk of the draft into the Vietnam War or actual military service during the Vietnam War, anti-war protests, social experimentation, sexual freedom, drug experimentation, civil rights movement, environmental movement, women’s movement, protests and riots, Woodstock.<\/p>\n
\nKey members:<\/em> Former UK Prime Minister Tony Blair, Former U.S. Presidents Bill Clinton and George W. Bush
\nBaby Boomer cohort number two (born 1956\u20131964)
\nMemorable events:<\/em> the Cold War, the Cuban Missile Crisis for those born in the first couple of years of this cohort, Vietnam War, walk on the moon,Watergate and Nixon’s resignation, lowered drinking age to 18 in many states 1970\u20131976 (followed by raising back to 21 in the mid-1980s as a result of congressional lobbying by Mothers Against Drunk Driving (MADD)), the oil embargo, raging inflation, gasoline shortages, economic recession and lack of viable career opportunities upon graduation from high school or college, Jimmy Carter’s reimposition of registration for the draft, Ronald Reagan, Live Aid
\nKey characteristics:<\/em> less optimistic, distrust of government, general cynicism<\/p>\n
\nAs of 1998, it was reported that, as a generation, boomers had tended to avoid discussions and planning for their demise and avoided much long-term planning. However, beginning at least as early as that year, there has been a growing dialogue on how to manage aging and end-of-life issues as the generation ages. In particular, a number of commentators have argued that Baby Boomers are in a state of denial regarding their own aging and death and are leaving an undue economic burden on their children for their retirement and care. According to the 2011 Associated Press and LifeGoesStrong.com surveys: 60% lost value in investments because of the economic crisis, 42% are delaying retirement and 25% claim they will never retire (currently still working)[33][34]
\nIn 2013, the early baby boomers (depending on birth years used) reached a common retirement age in the United States: 67 years.<\/p>\n
\nAn indication of the importance put on the impact of the boomer was the selection by Time magazine of the Baby Boom Generation as its 1966 “Man of the Year”. As Claire Raines points out in Beyond Generation X, “never before in history had youth been so idealized as they were at this moment”. When Generation X came along it had much to live up to in this author’s opinion.
\nBoomers are often associated with the counterculture of the 1960s, the African-American civil rights movement and the feminist cause of the 1970s. Conversely, many trended in moderate to conservative directions opposite to the counterculture, especially those making professional careers in the military (officer and enlisted), law enforcement, business, blue-collar trades and Republican Party politics. They are also associated with the narcissism of the “Me” generation. People often take it for granted that each succeeding generation will be “better off” than the one before it. When Generation X came along just after the boomers, they would be the first generation to enjoy a lesser quality of life than the generation preceding it.
\nThe conflict between baby boomers who were career oriented and those who still supported the traditional aspects of family were characterized in the 1987 film Baby Boom, in which career woman Diane Keaton inherits a six-month-old baby and comes to realize how the family is more important than personal aspirations.<\/p>\n
\nBoomers (born 1943-60) today comprise 65 million adults mostly in their 50s and 60s. As a social generation, Boomers are a bit older than the oft-cited Census Bureau definition (1946-64), which merely refers to a \u201cbaby boom\u201d fertility rate hump. If you remember World War II, if you were out of college when JFK was shot, and recall Woodstock as something \u201ckids\u201d were doing, you\u2019re too old to be a Boomer. If you can\u2019t recall the moment JFK was shot, nor Jim, Jimi, or Janice when they were still alive, you\u2019re too young.
\nHowever you date them, we all know the Boomers\u2019 life story. It\u2019s as though no phase of life means anything until Boomers pass through it and can tell us about it. They started out as feed-on-demand Dr. Spock babies, then grew into the indulged Beaver Cleavers of the \u201850s, then the college and inner-city rioters of the late \u201860s, and finally ended up as the young family values moms and dads of the \u201880s.
\nAlong the way\u2014somewhere between LBJ and Reagan, between hippie and yuppie\u2014Boomers shook the windows and rattled the walls (to paraphrase Bob Dylan) of everything their parents had built. In so doing, this \u201cgeneration\u201d (a word they repopularized) became especially well-known for its cultivation of self and its carelessness about material wealth. It\u2019s no coincidence that Boomers mark first the apogee, and then the decline, in generational progress as measured by real-dollar income. First-wave Boomers born mainly in the mid-1940s have done best, but late-wave Boomers born mainly in the mid- to late 1950s are underperforming the first-wavers at nearly every age. First-wave Boomers in their 40s and 50s, for example, had a median family income nearly $10,000 higher than late-wave Boomers later had at the same age.<\/p>\n
\nOne explanation for this turnaround is simple age location. First-wave Boomers emulated the Silent: They followed the rules more carefully, went to school longer, and got married earlier. Late-wave Boomers\u2014who hit the social turmoil of the \u201860s at progressively younger ages\u2014got into more trouble, graduated less often from college, and married much later (if at all). The difference in age location also extends to the economy. Most first-wavers launched careers (in 1972 or before) during the revved-up go-go years. Most late-wavers launched careers (in 1973 or after) when the economy was stagflating.<\/p>\n
\nThe first Boomer trait is their famous individualism<\/strong>. Boomers have long behaved as if they didn\u2019t need institutions or each other. This is the first generation of women, for example, to regard itself as essentially economically independent. Har\u00acvard sociologist Robert Putnam\u2019s book Bowling Alone explains most of the grow-ing shift away from civic and group participation in postwar America as a cohort phenom\u00acen\u00acon\u2014and one that started with Boomers. This individualism helps explain why Boomers have avoided the group security offered by unions or paternalistic benefit plans\u2014and why, as voters, Boomers have been generally tolerant of a growing rich-versus-poor spread in America\u2019s income distribution, which of course widens the gap between mean and median.
\nThe second trait is their attraction to personal risk-taking<\/strong>. As youth, Boomers pushed the envelope on danger, propelling rates of accidents, suicide, crime, drug use, and STDs to unprecedented levels. Today, many of those indicators are rising swiftly for midlife Americans, even as they fall among youth. Risk-taking has obvious implications for economic decision-making\u2014for example, portfolio selection. There\u2019s also mounting evidence that Boomers have higher rates of lifestyle-related chronic disease than the previous generation at the same age. This would mark a reversal of health gains achieved by the G.I.s and Silent as elders, and it may portend a decline in the Boomers\u2019 productivity and employability as they age\u2014as well as a further acceleration in disability and health benefit spending.
\nFinally, there is the Boomers\u2019 values orientation<\/strong>. This generation has always preferred dividing the world into right versus wrong, good versus bad. They came of age creating the \u201ccounter-culture,\u201d whose purpose was to judge their parents. Now they lead the \u201cculture wars,\u201d whose purpose is to judge each other. This strong values orientation makes Boomers suspicious of purely material measures of life success. According to a recent MetLife survey, Boomers are considerably less likely than other generations to agree that the American Dream means \u201cexceeding your parents\u2019 standard of living.\u201d Andaccording to U.S. Trust, Boomers are a lot more likely than prior generations to say that giving their kids \u201cgood values\u201d is more important than providing them with a material inheritance. Even high-end Boomers agree with this.
\nToday, Boomers are busy redefining retirement\u2014or getting ready to redefine it. The G.I.s started a trend toward earlier retirement with more money than they expected in an era of expanding benefits. Boomers are retiring later with less money than they expected in an era of retracting benefits.<\/p>\n
\nAll their lives, Boomers have touted a lofty vision of the American Dream that eschews the material in favor of a deeper, more meaningful definition of both work and play. That\u2019s a good thing, because many of them (late-wavers, especially) will have to work much longer than their parents did\u2014or find fulfillment in \u201cpriceless\u201d play that can be purchased at bargain prices.<\/p>\n","protected":false},"excerpt":{"rendered":"