What is a Baby Boomer?
When World War II ended in 1945, thousands of young men returned from service, got jobs, got married and started families (not necessarily in that order). This resulted in a significant jump in the birth rate (more than 1 million more babies born in 1946, compared to 1945 in the US) and this increased birth rate continued until 1964.
Baby Boomers in Canada are usually defined as the generation born from 1947 to 1966. Canadian soldiers were repatriated later than American servicemen, and Canada’s birthrate did not start to rise until 1947. In Canada, Baby Boomers account for close to one-third of our country’s 32 million people.
In general, Baby Boomers are associated with a rejection or redefinition of traditional values. As a group, they were the healthiest and wealthiest generation to that time, and among the first to grow up genuinely expecting the world to improve with time. Baby Boomers control over 80% of personal financial assets and more than 50% of discretionary spending power. They are responsible for more than half of all consumer spending, buy 77% of all prescription drugs, 61% of OTC medication and 80% of all leisure travel.
Overall, Baby Boomers who eat well, exercise and take care of themselves can expect to be healthier than previous generations.
Another downside, Baby Boomers, on the whole, do not have enough money saved to cover the costs of retirement for a longer life expectancy.
Who Are They?
Work-Centric: Baby Boomers are extremely hardworking and motivated by position, perks and prestige. Baby Boomers relish long work weeks and define themselves by their professional accomplishments. They sacrificed a great deal to get where they are in their career and are considered and commonly called to workaholics
Independent: Baby Boomers are confident, independent and self-reliant. This generation grew up in an era of reform and believe they can change the world. They questioned established authority systems and challenged the status quo. Baby Boomers are not afraid of confrontation and will not hesitate to challenge established practices.
Goal-Oriented: With increased educational and financial opportunities, Baby Boomers are achievement-oriented, dedicated and career-focused. They welcome exciting, challenging projects and strive to make a difference.
Competitive: Since Baby Boomers equate work and position with self-worth, they are quite competitive in the workplace. They are clever, resourceful and strive to win. Boomers believe in hierarchical structure
Beverly’s Hot Tips For Building Resilience By Celebrating Baby Boomers Recognition Day:
- Beware of missing out on life because of the need to succeed. Being a generation of workaholics has made you great achievers, but you may have paid a huge price in your health and relationships.
- Plan for your retirement. Not just financially. Work has been your life. How will you transition out? What will you transition to? How will this impact how you see yourself?
- Research shows boomers to be a stressed generation, struggling to balance the needs of your parents and your children while worrying about retirement. Find ways to take care of yourself while still helping others.
If you have some strategies to share – comment on this posting!