The baby boomer discussion\’s generation draws enormous levels of attention. No other generation has attracted such high controversy. They\’re the longest surviving and richest people in human memory.
What a boomer represents. Even defining the term causes argument. Just in terms of population, they are Westerners born between 1946 and 1964. The end of the war brought the soldiers home and the nations were celebrating. As a result, there was a huge spike in birth rates. Times remained hard post war, this was an upbeat time of hope. The resulting boomers are aged between fifty and mid seventy.
There is also a definition in cultural terms. This is a generation that have been privileged financially, who dismissed many previous, were young in the 60s and now live long, healthy lives – far more so than their grandparents or even their parents. They have always had the means to live a wonderful lifestyle; better than those who come after or before. Thus the discussion ensues.
Leading the change. They are also often credited with rejecting traditional values and changing the world. While it\’s true that the older members of the generation were teenagers and young adults in the sixties, seeing the advent of everything from pop music to the Pill, the miniskirt to youth culture, younger boomers were still in diapers. A lot of the older members retained their parents\’ values. So perhaps they weren\’t the world changers, after all.
The responsibilities of rich boomers. Few would begrudge the boomers their money, though many raise eyebrows as to how they\’re using it in a global downturn. Terms like \’silver surfer\’ or \’skier\’ coined for baby boomers aren\’t very positive. Skiing – in full, \’spending the kids\’ inheritance\’ sums up how many 40-somethings view their parents. While they struggle to pay the massive mortgage and kids\’ college educations, they watch their savings being eroded and stare down the barrel of no or little pensions. Their own kids will probably not be able to buy their own homes until they are at least 30.
Yet, their own parents gained from the huge rise in house prices, unprecedented financial growth in developed economies, no huge recessions or wars and jobs secure for life. So the argument goes that their accumulated wealth was down to them being in a right place at a right time, not because they worked hard or were unusually ingenious.
Financial planning for generations. Economists and thought leaders ask boomers to take their funds and invest them in their children and grandchildren\’s future, rather than buying themselves second homes and four luxury holidays each year. This, of course, provokes an extreme reaction and some resistance amongst the baby boomers! But families that want to thrive financially in the next decade may need to do this.
Inevitably, even they will grow old, but it is taking much longer. They will need care homes and face medical bills, but the baby boomer discussion is concerned with the fact that their children will need to pay the bill, once again. Their cash will not last forever, particularly when they\’re now spending it so fast.
Baby boomers are the fastest growing segment of the population with a unique perspective on life and society. You can be part of the baby boomer discussion topics by visiting our website.
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