Week 3: My Demographics
The Baby Boomers. The post–World War II baby boom produced 78 million baby boomers, born between 1946 and 1964. Over the years, the baby boomers have been one of the most powerful forces shaping the marketing environment. The youngest boomers are now in their mid forties; the oldest are entering their sixties and approaching retirement age. The maturing boomers are rethinking the purpose and value of their work, responsibilities, and relationships.

After years of prosperity, free spending, and saving little, the recent recession hit many baby boomers hard, especially the preretirement boomers. A sharp decline in stock prices and home values has eaten into their nest eggs and retirement prospects. As a result, many boomers are now spending more carefully and planning to work longer. “You have a huge group of preretirement baby boomers, a huge number of people who are asking,‘ Can I live off my savings and Social Security for the rest of my life?’” says one economist. “A whopping 70 percent of Americans currently age 45 to 74 plan to work during their retirement years … both for enjoyment and because they need the money,” notesanother.9 http://digitalbookshelf.artinstitutes.edu/#/books/9780558851903/pages/48921799

I happen to fall into this group of Baby Boomers and I can certainly relate to this statistics report about the generation after World War II. We had opportunities to advance economically and raise our children to learn and developed skills to further enhance their potential careers. We valued the prosperous years as we were taught by our previous generation to be cautious and careful to manage our money and invest wisely. Our parents struggled to grow out of the depression era and tried to build investments for my generation the Baby Boomers so we wouldn't have to struggle and go without. But due to our current economy I have experienced the loses that my parents tried so hard to prevent.