The so-called 'baby boomer' generation, made up of almost 5.6 million Australians born between 1946 and 1965, is now aged in their 50s and 60s – over 800 baby boomers are turning 50 each day.
Baby boomers (aged 55-74 years) represented 21.5 per cent of the Australian population, according to the 2021 Census.
Overview. The 2021 Census revealed that Millennials were about to overtake Baby Boomers as the largest generational group in Australia.
Australia's Baby Boomers were born between 1946 and 1966 during the post-war economic boom.
The Australian men's national basketball team, nicknamed the Boomers after the slang term for a male kangaroo, represents Australia in international basketball competition.
In the US, the generation can be segmented into two broadly defined cohorts: the "leading-edge baby boomers" are individuals born between 1946 and 1955, those who came of age during the Vietnam War and Civil Rights eras. This group represents slightly more than half of the generation, or roughly 38,002,000 people.
They are the ”Retirement Crisis.” Accordingly, we define the “Poor” as the 70% of boomers with less than $300,000 in savings.
Generation Jones and the Boomers
The Baby Boomer generation was born between the post-war years of 1946 to 1964. A subset of the Boomers, Generation Jones, was born in the later years of the Baby Boom, from 1954 to 1964.
In Australia, the equivalent of the Greatest Generation is known as the "Federation Generation."
In total the Baby Boomers (45 to 64) are a quarter of the population (25%) but own more than half of Australia's national wealth (53%).
According to some studies, baby boomers rated their health more favourably than their predecessors,7 8 whereas others did not report a significant difference9–11 or even found worse results in baby boomers.
Population distribution Australia 2022 by age
In June 2022, it was estimated that around 7.3 percent of Australians were aged between 25 and 29, and the same share was aged between 30 and 34. Around 55 percent of Australia's population was aged 35 years or older as of June 2022.
Most historians say the baby boomer phenomenon most likely involved a combination of factors: people wanting to start the families that they put off during World War II and the Great Depression, and a sense of confidence that the coming era would be safe and prosperous.
Nine months later saw the start of a population revolution as childbirth rates soared – more than four million Australians were born between 1946-1961 – the 'Baby Boom'.
The main reason: many baby boomers are worried about their finances. Nearly two-thirds expressed concern about having enough savings to quit the daily work grind.
In 2011, that first round of Baby Boomers—those Americans born between 1946 and 1964—turns 65. From now until 2030, 10,000 Baby Boomers each day will hit retirement age.
Baby boomers have the highest household net worth of any US generation. Defined by the Federal Reserve as being born between 1946 and 1964 (currently in the ages between 59 and 77), baby boomers are in often in the sunset of their career or early into retirement.
The Pew Research Center uses 1928 to 1945 as birth years for this cohort. According to this definition, people of the Silent Generation are 77 to 95 years old in 2023.
Baby boomers got their name from a phenomenon known as the baby boom. This boom was a spike in birth rates after World War II. In the United States, around 3.4 million babies were born in 1946, more than ever before in United States history.
The Stolen Generations refers to a period in Australia's history where Aboriginal children were removed from their families through government policies. This happened from the mid-1800s to the 1970s.
In Victoria, the term 'Forgotten Australians' refers to people who spent time as children in institutions, orphanages and other forms of out-of-home 'care', prior to 1990, many of whom had physical, emotional and/or sexual abuse perpetrated against them.
The term “Silent Generation” was first documented in a 1951 Time magazine article, which claimed that the most startling fact about this generation was its silence: “By comparison with the Flaming Youth of their fathers and mothers, today's younger generation is a still, small flame.” The generation's “silent” behavior ...