Baby Boomers

Baby Boomers Retirement - How It Impacts the US Economy

The term "baby boomer" refers to a person who was born between 1946 and 1964. According to the U. S. census of 2000, there are around 83 million baby boomers. Now, the baby boomers are between the ages of 42 and 60, a fact indicating the exit of baby boomers from America's workforce.

The generation of baby boomers has sprung from a period of economic prosperity and the joy of the post Second World War years. Baby boomers have attracted a lot of attention due to their distinct features and outlook on life. What Do Baby Boomers Feel about Retirement?

A large number of surveys and studies have been conducted on baby boomers. Baby boomers are optimistic with a conservative outlook on money and financial matters.

Baby boomers became more successful at the finanical level than their parents. Baby Boomer Impact on U. S. Economy

U. S. economy soared when the baby boomers made their entry into the American workforce. When baby boomers entered the workforce of American the economy grew at a rate faster than the growth of its population. Solutions to America's Labor Problem

To encourage baby boomers to retire late, companies and organizations can use the following methods:

It will inspire baby boomers to hold on to their respective positions for longer years.

Baby boomers enjoy preparing for a financially secure retired life. Companies as well as baby boomers will enjoy equal benefits if baby boomers extend their stay in the workplace.

Long-term Solutions

Companies are very much aware of the impact caused by retiring baby boomers on the country's economy. Organisations and companies that have hired baby boomers must modify their policies to accommodate their senior baby boomer employees. At the same time, they must seek lasting solutions to the problems caused the retirement of senior baby boomers. Learning about the views of baby boomers toward retirement is one of the ways of dealing with the situation.

A baby boomer is a person who was born during the post Second World War years, an age marked by an unusually high number of births and a rise in economic prosperity. An estimated 79 million babies are believed to be baby boomers.

In the United States, the term "baby boomer" also refers to people whose date of birth comes prior to the Vietnam war and after the Second World War. Therefore, baby boomers in America might belong to one or more generation. 1. Classifying Baby Boomers

Baby boomers are classified in a number of ways. Steve Gallion, author of Boomer Nation, puts baby boomers into two categories: those born between 1945-1957 and "Shadow Boomers" born between 1958-1963.

Many people don't consider "Shadow Boomers" as an apt term to be used with reference to baby boomers. Instead, they prefer the term "Echo Boomers."

Some are of the opinion that the generation of baby boomers originated during the Vietnam war. 2. Explaining the Baby Boomer Phenomenon

As the baby boomers grew older, their purchasing power grew, and a variety of companies could make large profits. 3. Baby Boomers in their Old Age

According to the ABC News report of January 10, baby boomers have succeeded in redefining the term "aging." Compared to the generation that preceded them, baby boomers are better educated and healthy and have a unique passion for life. Undoubtedly, the age of the baby boomers that began with a raised birth rate and a heightened economy during the post Second World War period is remarkable.

If there was one generation that has shaped the way this country is now that is the baby boomers. First baby boomers need to be defined. While there are different variations of baby boomers, the group as a whole is considered the people born between 1946 and 1964. There was an increase of babies born after World War 2. Baby boomers account for a huge part of the population now.

Look at everything that went on while the baby boomers were growing up. Baby boomers grew up during a time of civil unrest. Civil rights has always been an extremely important issue for baby boomers. Many baby boomers fought in Vietnam or knew many people that did. Because of all of these different political and social situations, baby boomers understood the difficulties facing this country.

Baby boomers recognized this and were growing up when the American military was massive and working toward a goal. You can see this influence in the baby boomer presidents - Bill Clinton and George W. Bush. The Vietnam War greatly influenced baby boomers because they didn't want to go through those problems once again.

One area that has received a great amount of attention from baby boomers has been space travel. The baby boomers grew up at the start of space exploration. The studies have been looking into the future of baby boomers. Now, that the baby boomers are entering retirement years, there is concern that there isn't going to be enough social security to cover all the baby boomers.

Private companies and the government are working at helping the baby boomers once they retire. The problem is once the baby boomers retire there will be less income because there will be less people working. The baby boomers account for 22 percent of the country's population.

Baby boomers need help once they retire.