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Baby Boomer

Updated on December 2, 2021 , 414 views

What is a Baby Boomer?

Baby boomers is a term referred to the demographic unit of people born between 1946 and 1964. The baby boomer generation covers a significant part of the world population, especially in countries that are developed.

Baby Boomer

In the form of a group, baby boomers were more active, fit and wealthier than any of the preceding generations.

The Founding of Baby Boomers

Baby boomers came into the limelight after World War II. This was the time when birth rates spiked across the world. The explosion of infants was known as the baby boom. According to historians, the phenomenon of baby boomers evolved because of several factors.

To begin with, people wanted to start their families, as several people lost lives during the war. Also, the postwar era seemed promising for the upcoming generation. And then, young families started migrating from cities to suburbs.

These families started using a new type of credit to buy consumer products like televisions, appliances and more. As these boomers stepped in adolescence, many of them were dissatisfied with how the world worked and the consumer culture.

Thus, this gave rise to the youth counterculture movement during the 1960s. Since boomers are regarded as the longest-living generation, they are at the forefront of the longevity Economy. Whether they generate Income or not, they can still contribute to the economy via pensions and other government plans.

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Tips for Boomer Retirement

  • One of the advantageous tips for boomers could be not to retire too early. At least, they can try to delay it up to the age of 65 or beyond (if possible). This could mean continuing the job after the retirement age or finding something to do part-time. Being a part of professional life can help emotionally as well as financially.

  • Despite being born in the 1940s and 1950s, there are people who still project an active lifestyle, even healthier than their heirs. However, undeniably, the human body is not invulnerable. With age, there are several issues that can knock you, be it hypertension or high cholesterol. Leading boomers are still in their 70s. Therefore, this is the time for them to take essential health care decisions and take the charge of their life as well as finances. It is also recommended to have a Life Insurance plan or any alternative of it.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.

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