Retirement of The Baby Boomer Generation Our children are our future; our seniors are our foundation (Wissel L. 2000). Fifty five million Americans are age fifty five and older, according to the United States Census Bureau, of that number, thirty five million are age sixty five and older. By the year 2030, the sixty five and older population will double to seventy million, and the fastest growing segment of the older population is age eighty five and older. The baby boomer generation will soon reach the retirement age, and expected to redefine old age. Just as they have redefine every stage of their lives because boomers will be the largest generation of elderly, they will impact everything from housing to health care as the market and society caters to their wealth, longevity, and interest in new technology (Dytchweld K. 1999).
Within the United States, the size of the population over age 65 has soared during this century, increasing from 3 million in 1900 to 34.3 million today. Since 1940, the population of people over 65 has tripled and is projected to more than double again by 2050. The industrial revolution ushered in several technological advancements and changes in American Society. One area that has seen great progress is medical care, which has greatly improved the life expectancy of Americans. This, coupled with the influx of new births after WWII, commonly referred to as the “Baby Boomer” generation, has contributed to an American population dominated by 50 to 60 year olds.
During the 1950s economists frequently pointed to the growing population as a safeguard against economic stagnation. Each new birth represented new demands for food, clothing, and toys. Babies were the potential market for eight hundred dollars in products in their first year. Toy sales that year reached $1.25 billion, and diaper services were a $50-million business. The American Seating Company of Grand Rapids, Michigan, a major supplier of school furniture, tripled its business in the thirteen years following the end of World War II.
Colleges nation wide have been reporting strong surges in enrollment largely due to baby boomers returning to school. Baby boomers are Americans born between 1946 and 1964. Soldiers returning from WWII caused a rise in the birth rate of the United States, creating a “boom” which is where the term “baby boom” comes from. There were approximately 76 million baby boomers born during that 18 year span. The baby boomer generation is now creating a “boom” in the field of adult education.
U.S. General Accounting Office, Health, Education, and Human Services Division. (2000). Welfare Reform: States early experiences with benefit termination. Retrieved November 13, 2000 from the World Wide Web:http://www.researchforum.org/cfm/report.cfm?id=30
“Since 1950, average life expectancy has risen from 46 to 66 years.”1 This means people are aging on the planet longer than ever. Even though the birth rate has fallen from “on average 6.5 to 2.2 children per family,”2 the number of women producing children on this planet is enough to keep the population growing. “The number of women in their childbearing years in developing countries is now growing by about 24 million each year.”2 According to the UNFPA, the global population has quadrupled this century. To prevent the population from exploding, precautionary measures need to be taken. Human intellect and technology must also be implemented to help control population growth.
Lowe’s Home Safety Counsel. (http://www.loweshomesafety.org) (http://www.loweshomesafety.org/about.html) (http://www.loweshomesafety.org/projects.html) (http://www.loweshomesafety.org/teachers .html) (http://www.loweshomesafety.org/safety.html) Home Page (2001). Lowe’s to Donate $1 Million. (http://www.thepiedmontchannel.com/) Home page (2001). Lowe’s Officers and Directors.
What marketers should realize is that within the next couple of decades or so there will be a sizeable increase in this group and consequentially a decline in the strength of women younger to them will be seen in this period – the women, mentioned above, who are the usual target of marketing campaigns recently. Boomer Women – ‘Grandmotherly’ or Not! The generation of women, who were born between 1946 and 1964 or the post WWII era, are commonly referred to as the ‘Boomer Women.’ In fact the whole generation of babies born in that period was known as the Boomer Generation. People returning from the war were facilitated to have a home and build up families and this consequently led to the Baby Boom. Today these 40 million Boomer Women are in a position to significantly influence the present economy of the state.
Family Structure in the Nineteenth Century Missing Tables Abstract Family structure in the United States has undergone a dramatic change since the 1960's. The percentage of female-headed households increased while the percentage of married couple households declined. This paper uses data from the Urban Underclass Database to explain the roles the transforming economy (from manufacturing to service) and the subsequent employment dislocation play in the family structure change. Results for the largest 100 cities in the United States find support for a relationship between changes in the economy, subsequent male unemployment, and family structure change. Male unemployment had a positive effect on the growth of female-headed families in both 1980 and 1990.
World War II brought peace and economic prosperity to the Allied nations, which allowed for the fertility rate in North America to increase. This caused an explosion in the population of the U.S. especially, with around 78 million babies born by the end of the 1940s-1960s, according to Colombia Dictionary. Similarly, Canada experienced a surge of 479,000 babies following the 1950s (Henripin, Krotki 1). A large population amounts to a shift in demographics, and subsequently the social system of North America started to change gradually in order to adapt to the new baby boom generation. As a result of a new economic affluence in the continent, North American society became materialistic and consumerism seized a big part of the economy (Owram 309).