What is a Baby Boomer? How Big Is The Baby Boomer Generation? Top 15 Characteristics of The Baby Boomer Population

Simply, the baby boomer demographics are: 77 million people were born, with what is considered the baby boomer years of between 1946 and 1964, which is defined and recognized as the baby boomer generation.

Baby Boom Demographics and Baby Boomer Statistics:

The first of the Baby Boomer population turned 60 on January 1, 2006.

An American generation boom turns 50 every 8 seconds- that’s more than 10,000 people every day. (AARP).

By 2015, those aged 50 and older will represent 45% of the U.S. population (AARP).

By 2030, the 65-plus because of the baby boomer population will double to about 71.5 million, and by 2050 will grow to 86.7 million people (U.S. Census).

The 50+ have $2.4 trillion in annual income, which accounts for 42% of all after-tax income (U.S. Consumer Expenditure Survey).

Adults 50 and older own 65% of the aggregate net worth of all U.S. households (U.S. Consumer Expenditure Survey).

Households headed by someone in the 55-64, the baby boomer generation, age group had a median net worth of $112,048 in 2000 – 15 times the $7,240 reported for the under 35 age group, commonly known as generation x and generation y. (U.S. Census and Federal Reserve).

50% of Baby boomers plan to buy a new home after retirement

As a group, the baby boomer characteristics demonstrated over the last 50 years that baby boomers are a politically powerful generation, since over half of American adults are over 50 years old. This is a historic landmark

By 2011, 100 million Americans including the baby boom generation will be 50 years old or older.

In 2010, over 3/4 of the financial assets in the U.S. are owned by a boomer population over 55 and baby boomer spending accounted almost half of the consumer spending in the U.S. When a specific segment of the population in any country is larger than all the other population segments put together, i.e. gen x, gen y, and seniors (generation boomer) that’s real power.

Given that baby boomer spending habits control 50% of all the discretionary spending in the United States and that they are expected to outspend younger generations, gen x and gen y, by $1 trillion on technology purchases in 2010, it’s a smart strategy to market directly to the boomer demographic.

As the baby boomer trends above prove, babyboomers own almost all of this country’s financial assets and baby boomer spending tops 2 trillion dollars a year.

Maybe that’s why babyboomers represent a third of iPhone users, half of Mac users and the leading group that pays $99/year for one-on-one training in Apple’s 284 store locations.

Medical research and new discoveries have extended the normal life span for boomers and for their children named generation x and generation y. Baby boomer trends demonstrate that as the baby boomer retiring age approaches, the baby boomer generation will not mirror their parents idea of a traditional retirement. The boomer has a desire to return to a simpler lifestyle, have a social conscious, and to give a voice to those people without a voice.

The baby boomer generation will continue to change the perception of what aging means. Dare you to call a boomer a “senior”. With the above financial power, boomers have the desire, along with the educational and population clout are making a real difference in education, politics, medical care and what it means to give back to those disadvantaged among us.

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