baby boomer

noun
Updated on: 28 Feb 2018

Definition of baby boomer

: a person born during a period of time in which there is a marked rise in a population's birthrate : a person born during a baby boom; especially : a person born in the U.S. following the end of World War II (usually considered to be in the years from 1946 to 1964)
  • The viewer is older, an aging baby boomer whose '60s activism has been lost among the years.
  • —Gary D. Christenson
  • Industry experts predict that reverse mortgages will play an increasingly important role in the coming years as some 70 million baby boomers hit their 60s—often with a lot less saved than they'd hoped.
  • —Cybele Weisser

First Known Use of baby boomer

1963


Financial Definition of BABY BOOMER

baby boomer

What It Is

A baby boomer is a member of the generation born between 1946 and 1964.

How It Works

The term baby boom refers to the increase in births after the end of World War II. Today, America’s 75 million baby boomers represent about 30% of the population.

Though no terms describe every member of a population or group, the 1960s and early 1970s were defining times for this generation, though boomers born after around 1959 likely have different experiences and definitions of that era. Noted for a penchant for social change, increased divorce rates, affluent living and helicopter parenting (micromanaging their children), the baby boom generation has indeed transformed the American experience.

Why It Matters

From an economic perspective, the baby boomer generation is a major force not only for its sheer size but for its habits. In general terms, this population segment is responsible for more than half of all consumer spending in the United States.

The population of the United States is expected to age over the next several decades, thanks to the aging boomers. Many analysts expect this to create a corresponding increase in demand for aging care, products for the elderly, estate and retirement planning, and similar goods and services.



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