"Baby boomer" refers to a member of the demographically large generation born between the end of WWII and the mid-1960s. Because of their high numbers and the relative prosperity of the U.S. economy during their careers, the baby boomers are an economically influential generation.
The core values of Baby Boomers include optimism, team orientation, personal gratification, health and wellness, personal growth, youthfulness, work, and involvement. When a workplace environment supports their values Baby Boomers are more satisfied with their jobs.
Baby boomers made up the first consumer generation. They grew up in the television age, watching mass media emerge from their living rooms, embracing sex-driven, racially integrated rock and roll—Elvis, Jimi Hendrix, the Beatles—all of it fueled by the world's first true mass audiences.
Youth Culture
From a young age, Baby Boomers pushed back on the status quo established by their Traditionalist parents and leaders. They developed a robust youth culture that embraced disruption (yes, even before Millennials!) and reinvention, and they didn't blindly defer to their elders.
Baby Boomers represent the 76 million people born between 1946 and 1964. They were born during the post World War II baby boom. They rejected and redefined traditional values. They are also the wealthiest, most active and have the most disposable income for food, apparel and retirement programs.
A common stereotype regarding Baby Boomers is that they're fear-driven, which experts believe could be due to having childhoods so close to the war era. They're also commonly referred to as “stubborn” and resistant to any sort of change.
It was interesting. The webinar was about the fact that the people born between 1946 and 1964, known as the Baby Boomer generation, are the wealthiest generation in Australian history. According to the ABS, about 5.7 million Baby Boomers in Australia make up about 22% of the population.
Their higher net worth is expected: with most baby boomers financially planning for at least a few more decades, they benefit from wealth earned from long careers and have more robust retirement accounts than the silent generation, who have dipped further into retirement savings.
The post-war baby boom, occurring between 1946 and 1964, determines who is a baby boomer. This means that, as of 2020, baby boomers are between 56 and 74 years old.
As seen in the presented Table, according to the Baby Boomers generation, the main values in life were family security, tranquility, and a sense of accomplishment. However, such values as true friendship, equality, and pleasurable and leisured life were seen as rather insignificant.
In 1951, a Time magazine article was written in which the children of the generation were described as unimaginative, withdrawn, unadventurous, and cautious. Time magazine used the name 'Silent Generation' to refer to these individuals. The name has been there ever since.
The Greatest Generation refers to those Americans born between 1900 and 1925, many of whom fought during World War II.
Baby Boomers own half of Australia's wealth, despite being just one-fifth of the population.
Generation X and Millennial Households Are Expected to Inherit the Most Over the Next 25 Years.
Household wealth
Research has found that couples aged between 50 and 70 years have the highest median net worth (nearly $900,000), while singles aged between 30 and 40 years have the lowest median net worth ($50,000).
Competitiveness
This generation has experienced the benefits of hard work and dedication, which is something they expect from their employer. Baby boomers are willing to work hard and compete to reach company goals to prove that they're the best people for the job they hold.
Baby boomers want health and longevity, but they also want to have the dollars to support themselves. They wonder if their lifespan will match their health span, and their wealth span.
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'.
Baby boomers, sometimes shortened to boomers, are the demographic cohort following the Silent Generation and preceding Generation X. The generation is often defined as people born from 1946 to 1964 during the mid-20th century baby boom.