As the last of the baby boomers turn 60 this year, this influential generation continues to reshape society.
Born between 1946 and 1964, boomers have lived through unprecedented changes and left an indelible mark on history. A study found that baby boomers control 70% of disposable income in the United States, wielding immense economic power.1
But their impact goes far beyond finances. Let’s explore 23 reasons why baby boomers are truly a generation apart.
1. They’ve Got Cash to Splash
Baby boomers are said to be the generation who were in the right place at the right time, making them the wealthiest generation on the planet. With significant spending power and influence, brands should pay close attention to truly understanding this audience.
2. Strong Work Ethic Is in Their DNA
Baby boomers aren’t afraid to put in a hard day of work. For many of this generation, some of their self-worth comes directly from their professional achievements. They acknowledge that success comes from dedicating a great deal of time and effort into their careers.
3. Self-Assured & Independent
This generation is self-assured and independent. They were raised during a turbulent time in history, and they were required to take on their fair share of responsibilities in order to fulfill their roles in society.
4. Competitive Spirit Fuels Them
Baby boomers thrive on competition. One of their biggest motivators is racing to the top of the corporate ladder, or in the case of gamified eLearning, doing their best to surpass their peers and co-workers.
5. Disciplined & Structured
Many baby boomers grew up in households that were highly disciplined and structured, which shaped who they are today. Though they enjoy being able to navigate their own path, they also appreciate having the option to follow a pre-set schedule.
6. Tech-Savvy Adopters
It’s often assumed that older generations lack technological confidence compared to their younger counterparts, but it turns out boomers are actually pretty big tech adopters. Baby boomers in several countries actually maintain stronger tech confidence than the general population.
7. Advocates for the Environment
Baby boomers are more likely than the average consumer to be interested in other cultures, believe everyone should have equal rights, or even that immigration is good for their country. They are advocates for the environment and progressive causes.
8. Value Authenticity & Tradition
Baby boomers want brands to be authentic and traditional. Many advertisers can fall into the trap of portraying stereotypes when it comes to representing older audiences, which can be inaccurate and harmful.
9. Avid Gamers in Disguise
Would you believe that baby boomers are avid gamers? While they may not be playing the latest first-person shooter, many enjoy classic games like solitaire, Scrabble, and crossword puzzles.
10. They Sparked Cultural Revolutions
From civil rights to women’s liberation, boomers were at the forefront of social movements that dramatically changed society in the 1960s and 70s.
11. Gloomiest about Finances
Baby boomers are pessimistic not only about their own finances, but also about everyone else’s. They are more likely than younger or older Americans to say it is easier to fall behind financially than it was a decade ago.
12. Feeling the Middle Class Squeeze
A whopping 86% of baby boomers say it is harder than it used to be to maintain a middle class lifestyle, compared with 77% of younger people and 73% of older ones. Most believe it is more difficult for middle class people to maintain their standard of living than it was five years ago.
13. Retirement Insecurity
Only 11% of baby boomers plan to stop working entirely once they reach retirement age . Many are pursuing second careers or part-time work, changing the concept of retirement.(ref)
14. The “Sandwich” Generation
Some baby boomers may have felt financially strained because they were a part of the “sandwich” generation – supporting children or aging parents, or sometimes both. A 2005 Pew Research Center survey found that half of all boomers were raising young children and/or providing financial support to adult children, while 17% were assisting a parent.(ref)
15. Redefining the American Dream
Millennials are redefining success and prosperity compared to baby boomers. Researchers found that millennials who follow more “typical” middle-class lifestyles often possess more wealth than their boomer parents did at the same age.
16. Shifting Family Trajectories
Millennials tended to delay marriage and lived with their parents for longer periods compared to baby boomers. Around 13% of millennials had become parents and married earlier, compared to 27% of baby boomers.(ref)
17. The Suburban Ethos
The post-war economic prosperity led to a migration of young baby boomer families from cities to the suburbs. The G.I. Bill enabled veterans to purchase affordable homes, contributing to the suburban ideal of the nuclear family.
18. Driving the Consumer Culture
Businesses targeted their advertising and marketing efforts towards baby boomer families in the suburbs, fueling the consumer culture. This led to the youth counterculture movement of the 1960s as a response.
19. Changing Retirement Landscape
Every baby boomer will be 65 or older by 2030, marking a significant shift in retirement dynamics. With increasing life expectancy, baby boomers are likely to spend more time in retirement than their parents.
20. Decline of Traditional Pensions
Baby boomers have witnessed the decline of traditional defined-benefit pensions during their working years, replaced by defined-contribution plans like 401(k)s. While these plans offer more flexibility, they place more responsibility on employees.
21. Concerns over Social Security
The imbalance between baby boomer retirees and active workers raises concerns about the long-term viability of the Social Security system. Social Security’s trustees estimate that the trust fund will run out of money in 2033.
22. Thriving in Traditional Hierarchies
Many baby boomers function best in traditional, hierarchical work environments and may struggle in workplaces with more flexible approaches. (ref) They tend to be goal-oriented and are motivated by milestones like promotions and prestigious job titles.
23. Bridging Generational Divides
As the workforce becomes increasingly multigenerational, it’s important for managers to understand the dynamics between baby boomers, Gen X, Gen Y, and Gen Z. Navigating generational differences can be challenging, but knowledge is power in harnessing their collective strengths.
Source:
1. https://www.performancefoodservice.com/get-inspired/market-to-baby-boomers
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Martha A. Lavallie
Martha is a journalist with close to a decade of experience in uncovering and reporting on the most compelling stories of our time. Passionate about staying ahead of the curve, she specializes in shedding light on trending topics and captivating global narratives. Her insightful articles have garnered acclaim, making her a trusted voice in today's dynamic media landscape.
