What is a Baby Boomer?
A baby boomer is a person born between 1946 and 1964 in a country that experienced high birth rates following World War II, a phenomenon commonly known as the baby boom. The largest amount of money 80% of Americans have ever invested is in their house. Can you or your parents retire today? Evaluating one’s financial ability to retire is most often the first step taken when the retirement decision is being considered. Some individuals choose to retire the day they are eligible for Social Security or a private pension. Others find they cannot afford to retire and must continue working. In each situation, it is the reality of living on a fixed income that determines wether retirement is possible or not. What is your birth year? Fact…According to the U.S. Census Bureau, as of 2005, 50% of workers have no retirement savings at all. The rest have very little. Of workers age 55 to 64, 75% have household retirement savings of less than $56,000. Most of these people will be forced to extend the
In Australia, Canada, the USA, and the UK, returning soldiers from World War II sparked an increase in birth rates. This increase was so large, that many names have been coined to account for the high rate of births. Even in Russia, the increase launched a name called the Sputnik Generation. In Western Europe, Australia, and North America, the name baby boomer applies to the group of children born between 1946 and 1964. Actually there’s some debate on the specific dates. People born a year or two before the war ended may still be considered baby boomers. Further, the 18-year spread above is enough to encompass two generations. A baby boomer born in 1946 would be 18 in 1964 and could theoretically have a child also considered a baby boomer. Some people suggest shortening the end time period to 1963, or prior to the 1960s. Baby boomers have been interesting from a demographic standpoint. They have enjoyed, for the most part, longer life spans than their parents, and made up the Yuppie ge
