While "baby boomers" appears to be a cohesive group, in most aspects they can be quite different from each other. The age of the baby boomers falls in a range of almost 20 years and this difference in life stages corresponds to significant differences in needs and wants. Earning power has a tendency to increase over the working period of life yet often declines steeply upon retirement.
The age of the baby boomers born during the first year of the generation will turn to 65 starting in 2011. This implies qualification for Medicare and Social Security for most and various pensions and retirement savings plans for others. Many of these so-called "Golden Boomers" may be coping with decreasing expectations for their retirement lifestyle due to losses in stock investments in recent years and the failures of some exclusive pension programs.
The age of the baby boomers now in their 60's likewise means dealing with age-related health conditions. Most of these are chronic and expensive to treat. Since Medicare alone just pays 80% of permitted expenses, this means a financial burden to retirees as well as a burden on those providers and companies responsible for the delivery of treatment.
Baby boomers in their 50's are usually at the peak of their earning capabilities, but many of them have the burden of college expenses for children. With tuition, fees, books as well as housing ever increasing and sources of scholarships and loans becoming scarce resources, even those producing health salaries may be experiencing the pinch.
Many baby boomers in their 40s still have young ones at home and may even still be expanding the size of their families. Raising children is challenging in many ways, and not the least of these is financial. It is currently estimated that it will cost upwards of $250,000 to raise one child to the age of eighteen.
An excellent pair of examples of the different life stages of baby boomers can be seen in the 43rd and 44th Presidents of the US. Former president George W. Bush was born at the very beginning of the baby boomer period in 1946 and is actually retired with grown children who have finished college and who are on their own. Current president Barack Obama was born near the end of the baby boomer era in 1961 and has school age youngsters and clearly is actively participated in his career in public life.
Find Out More About The Baby Boomer Gen
The large size of the baby boomer generation has caused them to shape the culture of America first as a youth culture in the 60's and 70's and again in the 21st century as they become a large aging population. Boomers have a long history of political activism.
Drastic Changes The Baby Boomers Have Noticed
The baby boomers are the folks in the generation born between 1946 and 1964. Those born during this time have seen radical changes in their world including movements for the civil rights of women and African-Americans, better educated parents, more working mothers and advances in science.
The Retirement Of Over 77 Million Baby Boomers On The Overall Economy
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.
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The Meaning Of The Phrase Baby Boomers
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A Quick Discussion On Baby Boomers Age Group And Their Current Concerns
'Talking About My Generation" is the song that immediately comes to mind on hearing the words 'baby boomers.' And this is also true for an enormous chunk of American society. For the United States of America, the baby boomers generation is usually accepted to be that period from 1946 to 1964.
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