baby boomer

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baby boomer

An American person born during the "baby boom" following World War II, between the years of 1945 and 1965, during which the population of the United States increased by 40 percent. Typically used to describe members of this generation, who have been associated with economic prosperity, consumerism, self-indulgence. Primarily heard in US. Since baby boomers represent such a large percentage of the population, financial experts are concerned about the impact their retirement will have on the economy.
See also: baby, boomer

a ˈbaby boomer

(American English also a ˈboomer) a person born during a period when many more babies are born than usual (called a baby boom), especially after the Second World War: The new President was a baby boomer, born in the 1950s.
See also: baby, boomer

(baby) boomer

n. someone born during the baby boom—from the last years of World War II until the early 1960s. When the baby boomers get around to saving up for retirement, you’re going to see a lot of investment scams.
See also: baby, boomer

baby boomer

One of approximately 77 million persons born during the two decades following the end of World War II (1945). In 1951, a New York Post columnist Sylvia Porter is thought to have been the first to call the large postwar increase in births a “boom.” The return of veterans and the expansion of the economy with higher incomes are some of the factors accounting for the increase. Healthier and wealthier than previous generations, the baby boomers to some extent rejected traditional values and embraced social and cultural change. Their identity as a group was indicated by Time magazine’s choice of the Baby Boom Generation as its 1966 “Man of the Year.” Aging baby boomers, so characterized after they reached the age of 40, are still named by the cliché. A June 13, 2010, article by Patricia Cohen in the New York Times said, “Baby boomers have long been considered the generation that did not want to grow up, perpetual adolescents even as they become eligible for Social Security.”
See also: baby, boomer
References in periodicals archive ?
The marketing industry for baby boomers report for the US in July 2019 foresees the performance of the market progress in terms of volumes forecast by different categories including marketing, technology, and costs, in addition to factors such as the rise of the United States financial market.
More than half of baby boomers (53 percent) and 29 percent of Gen X consumers do not engage with brands on social media.
That's higher than Americans aged 35-50 (39 percent) and more than twice that of the Baby Boomer generation.
Interestingly, their overall debt levels are exactly on par with Baby Boomers who are also carrying $36,000 in debt, and slightly less than the $39,000 that Gen Xers are carrying.
In fact, in 2017, 74% of millennials did not pay their medical bills in full, compared to 68% of Gen Xers and 60% of baby boomers. Yet, seven in 10 millennials said they would pay their medical bills in full if they had the money to do so.
The online survey compared opin- ions of more than 2,000 respondents born between the mid-1940s and mid- 1960s (baby boomers) and between the early 1980s and mid-1990s (mil- lennials).
The study showed that most Americans are still not overly concerned with password protection, although baby boomers are more diligent than millennials.
Called the Phoenix Fiscal Fitness Survey, the probers found that while the baby boomers estimated they would need 60 percent of their final annual income to be comfortable in retirement, financial planners frequently suggest that a minimum need would be 70 percent or more.
Forty-five percent of Baby Boomers expect their standard of living will decrease in retirement, 83% of Generation X think their generation will have a harder time achieving financial security than their parents have or did, and only 18% of Millennials are very confident about their future retirement.
New data released by the Indexed Annuity Leadership Council shows that many baby boomers aren't financially prepared for retirement -- they have little saved, are consumed about lifetime income options and don't know how much money they need to live comfortably.
They are also most likely to offer their employees any of the following benefits (84 percent), versus Generation X (60 percent) or baby boomers (46 percent):
Census Bureau expected the country's Millennial population to number 75.3 million, overtaking Baby Boomers as the largest living generation in the United States.
While millennials receive widespread attention, financial institutions must not neglect the needs of baby boomers, a demographic nearly as large, according to results of the Lombard, Ill.-based Raddon Financial Group's study.
Morgan Asset Management said it has released Investment Insights with new research that compares the saving and investment experiences of baby boomers with those of Gen X and millennials, and derives potential implications for asset markets as boomers enter retirement en masse.