The Baby Boomer generation is my generation. It’s the generation born between the years 1946 and 1964 and we are known as the generation that changed it all.
World war II was over in 1945 and the post war celebration party was on for young and old.
Of course with all the returning service men and women flocking back home, it was only natural that nature would kick in and the population would boom.
It’s a documented fact that more babies were to be born in 1946 than ever before. In fact something like 20 percent more babies were born in 1946 than in 1945 in the US, Britain, Australia Canada and other countries.
Obviously the war had a major impact on the babies being born in 1945. But it was over now and people wanted to forget. This was the beginning of the Baby Boom and it lasted almost 20 years.
The Baby Boomer Generation was not a global phenomena. Many counties in South America, Africa and Asia did not experience any sort of Baby Boom until much later on in the 20th century.
Baby Boomer Age Ranges
Older Boomers aged 64-70
The oldest Baby Boomers are currently in their late sixties and many of them are now reconsidering their retirement options and looking for ways to make their lives more meaningful and comfortable. Many in this group are finding a new lease of life with new careers and entrepreneurship. Take a quick look at some of The Best Jobs For Baby Boomers if you are looking to earn extra income for yourself.
Middle Age Boomers aged 57-63
The average Boomer is perhaps in their late fifties, some will be in the same financial position as the older Baby Boomers. Others will be in a similar financial position as the younger Boomers. They are somewhat stuck in the middle and many of them will need to make some huge decisions to enable them to find financial success.
Younger Boomers aged 50-56
The youngest Baby Boomers are currently in their early fifties and a lot of them have wised up and have in place strategies to fund their retirement. Their options for retirement are much brighter than the older Boomers, they have a longer history of savings and they are more aware of the need to fund their retirement in some way. Unfortunately many of these younger boomers still have sizable mortgages, which makes saving difficult. Their financial strain is exacerbated by their adult children embarking on tertiary education and staying at home for longer than expected. Baby Boomers themselves usually left home just as soon as they could as they often felt restricted by their parents less frenetic lifestyles.
But like all Boomers, many of them are unfulfilled and are looking for ways to make their lives more meaningful and generate cash flows at the same time. One way to do this is to start your own business based on something that holds an interest for you. Your business could be based on a hobby or pastime, or you may just have a desire to help others. Take a quick look at the possibilities of Affiliate Marketing For Baby Boomers, this is an older post of mine that may give you some ideas.
What is the Baby Boomer generation doing now?
Unfortunately many of the Baby Boomer generation have got themselves into a desperate financial situation and are languishing in a financial no mans land. This means many of them will need to work until they their twilight years. This isn’t such a bad thing providing they love their work.
Working for the love of it
If you are working for the sheer love of it! Then that’s terrific news because you’re one of the few who’ve found something they enjoy and as such this is good for your health and well being. Though, take extra care to look after yourself particularly with your exercise regime and diet. Life can’t be all work, don’t forget to enjoy some relaxing fun times.
Enjoy the good times
On a recent trip to Cambodia, Laos and Vietnam I was amazed at how many Baby Boomers were traveling in groups enjoying the incredible sights of Asia, perhaps for the first time. Others were on their own or in pairs toting backpacks. It was as if the clock had been turned back to the sixties and they were on the road again – my wife and I included. It’s possible that at times we outnumbered the younger backpackers!
Those who have the funds will enjoy their life in retirement in a big way. They will be in a financial position to be able to help out younger family members, they’ll have the funds to pay for weddings and help with their adult children’s young family. In other words they will enjoy a comfortable reirement.
Many will want to travel, some will be looking at foreign trips for the first time, while others will revisit the places that they enjoyed in the 1960’s and 70’s
What Is The Baby Boomer Generation Known For?
In many countries around the world, the Baby Boomers are the largest demographic group.
- We’ve enjoyed and are known for creating one of the most lengthy periods of economic growth and change that has been experienced by any generation….Ever!
- We are the wealthiest and the most influential group in any electorate. Because of this we have the combined power to sway the decisions of governments and Industries. But we recognize that we have a lot of clout that should and must be used wisely for the generations to follow.
- We are also known for partying and playing up a little…..Maybe more than a little!..But hey we’re all young once and we’ve had our time and the X’s and Y’s and what other generations will all have their time in the spotlight and news.
- The sex drugs and rock & roll of the sixties. Sure the older Boomers are known for it, but somehow I missed out on it all! So did most of the other Boomers that I know. The truth is that living in the suburbs during the sixties, was just as boring as it is now.