Who Are Baby Boomers:
During World War II, the birth rate in America became low because most of the men were gone for war and women were busy in helping them out during war. After the war, came the Baby Boom. And the people who were born after World War II and during the period (1946 – 1964) are called Baby Boomers. From 1946, the birth rate of United States grew at a fast pace until 1960.
Qualities Of Boomers That Makes Them Different:
The Boomers turn 51- 67 this year. Boomers are the kind of people who worry about their retirements and most of them wish to continue to work part-time during their retirement period because they like working and they want to augment their retirement savings. Baby Boomers like to think openly and do what needs to be done, and they do it at any cost, that’s why they are different from the previous and subsequent generations. But the problem with Boomers is that they love what they are doing.
Societies’ View Of Aging:
According to the societies view of aging, Baby Boomers are famous for their lust of remaining in youth or pretending to be young even when they are past 50s. They don’t want to grow up, repeat the life their parents lived, and face the problems their parents faced. They want to live their lives according to the way they want.
Normally, People in their late 50s get lazy and they just want to retire, get rest and enjoy the remaining part of their life. People want their lives to be simple after their retirement. Get pensions, utilize the savings and live your life to fullest till the time of death is what most people say. That’s what lazy people say, but not Baby Boomers. They love to work and they are a great example of Active people. These are the people who don’t want to rest at home even after their 60s.
Boomers In Business:
10% of the Population of America is covered by Boomers and it is a substantial amount. Now the problem is that most of the Boomers are now at the age of their retirement and more than half of the consumer spending of America is due to these Boomers. The stocks would become less valuable once the Boomers have retired and economy would grow slowly.
Boomers and The ANTI-AGING Market:
As we know that Boomers are now in their 50s-60s, they have become old physically and mentally. But the main thing that people like about them is their “Always remain Young” mindset. As we discussed earlier, they are not among those “Lazy People” who spend their lives at their homes after retirement. Baby Boomers really love to spend their savings in becoming Entrepreneurs. In these days, they are the members of the set of companies related to Anti-Aging products. This is what they love and they’re doing it. The Anti-Aging Market is getting a boost due to these consumers. Some of the main contributors in Anti-Aging Market are L’Oreal, Personal Microderm, Photomedex Inc., Cynosure Inc., Solta Medical Inc., Alma Lasers Ltd, etc.
Most history specialists concur that the baby boomer marvel in all likelihood included a blend of elements: individuals needing to begin the families that they put off amid World War II, a socially urged propensity for individuals to wed at a more youthful age, and a feeling of certainty that the coming period would be sheltered and prosperous. In fact, the late 1950s for the most part observed increments in compensation, flourishing organizations, and an expansion in assortment and amount of items for buyers.
Currently, the oldest baby boomers are in their late 60s. After just 14 years, one in every five Americans will be older than 65, and experts strongly believe that the aging of most of the population will place a strain on our social welfare systems.
Baby boomer? Check. Searching for eternal youth? Check.. Seriously, a good article.
Wouldn’t it make sense that even though the Boomers are headed out of society, that another group of the population is taking over? They might not be as much of an impact as the Boomers were, but they are still there, right??
Yup! Let’s hope that process keeps going. But then again we are talking about “our” generation. 🙂
Interesting information about baby boomers’ economic impact. I am close to retirement myself, being a baby boomer. It will be interesting to see what happens over the next decade as the last of the baby boomers retire and markets depend on those born from the mid 60s on.