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Baby Boomers Consists Of A Span Of Over 20 Years
The age of the baby boomers occupies a span of over twenty years. This generation contains people in their mid to late 40's who are still climbing the company and occupational ladders who may have young children. Those in their 50's often have obtained a high water mark in their professions but may face the expenses of education for their kids. Baby boomers in their 60's are considering the lifestyle changes associated with retirement.
As "baby boomers" appears to be a cohesive group, in some areas they can be quite different from one another. The age of the baby boomers falls in a range of almost 20 years and this difference in life stages symbolizes significant variations in needs and wants. Earning power has a tendency to increase over the working period of life but normally declines steeply upon retirement.
The age of the baby boomers born in the first year of the generation will turn to 65 starting in 2011. This implies qualification for Medicare and Social Security for most and various pensions and retirement savings plans for others. Most of these so-called "Golden Boomers" may be coping with decreasing expectations for their retirement lifestyle because of losses in stock investments in recent times and the failures of some private pension programs.
The age of the baby boomers now in their 60's likewise means dealing with age-related health conditions. Most of these are chronic and expensive to cure. Since Medicare alone just pays 80% of acceptable expenses, therefore a financial burden to retirees as well as a burden on those providers and institutions responsible for the delivery of treatment.
Baby boomers in their 50's are usually at the peak of their earning capabilities, but many of them have the burden of college expenses for kids. With tuition, fees, books as well as housing ever increasing and availability of scholarships and loans becoming scarce resources, even those making health salaries may be experiencing the pinch.
Many baby boomers in their 40s still have young ones at home and may even still be expanding the size of their families. Parenting is challenging in many ways, and not the least of these is financial. It is currently estimated that it will cost over $250,000 to raise one child to the age of 18.
A very good pair of examples of the different life stages of baby boomers can be seen in the 43rd and 44th Presidents of America. Former president George W. Bush was born at the start of the baby boomer period in 1946 and is actually retired with grown children who have finished college and who are on their own. Today's president Barack Obama was born near the end of the baby boomer era in 1961 and has school age children and clearly is actively associated with his career in public life.
Category Of The Baby Boomers
The ages of baby boomers range from the mid forties to the mid sixties and their experiences and memories vary according to where they fall in the age range. Different ages recall different events. The older half of the baby boomers generation is now being called the "Golden Boomers."
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