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Baby
Boomers Turning Sixty
(...and loving it)

Who
are you calling OLD?
| Anyone born in the USA between 1946 and 1964 belongs to The Baby Boomer Generation. In
2006, the oldest of the baby boomers began turning 60 years old. The next few
years will mean big business for candle manufacturers since a projected 7,918
Americans reached that milestone every day in 2006 and more will follow every
year! With 330
boomers an hour entering their 6th decade, there will be plenty of birthday cakes
being cut across the USA.
It may be
true that 60 is the new 50. Just take a look at some of the Americans
celebrating their 60th birthday in the new millennium.
Presidents
George
W. Bush and Bill
Clinton both hit the big 60, but it isn't just famous politicians
who are baby boomers. Other celebrities have reached this milestone
include Cher, Donald
Trump, Sylvester Stallone and Dolly
Parton ...all part of the baby boom generation.
Exactly
how many baby boomers are there? According to the US Census Bureau, as of
July, 2005 there were 78.2 million Americans in that age group. Imagine
the impact of this generation...
In
Alaska, 32 percent of the population are baby boomers.
More
than 30 percent of the people who live in New Hampshire, Vermont and Maine.
Utah, at 23 percent, was
the only state in the US with less than 25 percent in 2000.
Who
are these boomers? Boomers
differ from past generations hitting prime:
They
are risk-takers who like the idea of change; they like to be regarded as individuals.
They
are not especially accepting of authority and institutions.
They
place a higher priority on experiences over possessions.
They
place a higher priority on fun over duty.
They
are searching for balance in lifethey want to have it all.
They
are completing more schooling than their parents... 85 percent completed high
school and 28 percent have bachelor's degrees... many boomers are retiring
near colleges to continue taking classes!
A little over half (50.8%) are women.
There are 8 million Hispanic and 9.1 million black American baby boomers.
When the
first baby boomers were born in 1946 the estimated US population
was 141 million Today it is about 298 million and growing larger
every day. James & Mary were the most
popular baby names for boys and girls, respectively. Today,
the most
popular baby names Jacob and Emily lead the list. James
is still popular, but has dropped to 17th among boys and Mary
is 63rd among girls.
What
will the future hold? The first baby boomers were born in 1946, the same year
that ENIAC,
the first electronic computer, was unveiled. No one then could have imagined the
digital world that the baby boomers would create.
What will the next decades bring? Looking
into the crystal ball, experts predict that the baby boomers will be living longer.
The US Census Bureau projects that 57.8 million baby boomers between ages 66 and
84 will be still be living active lives in 2030.Just
a little over half will be women (54.9%) according to projections. In
2031, when all of the baby boomers will be over 65, there will be 2.1 people contributing
to Social Security. Currently there are 3.3 workers for each Social Security beneficiary.
Small wonder the experts all stress that baby boomers should make sure that they
don't depend of Social Security to meet their financial needs after they retire! While many
have prepared for reduced benefits by saving for retirement,
those that have not may find themselves in financial difficulty.
Financial experts advise planning
finances in retirement to stretch until age 90 or 95. Outliving
retirement savings is a real concern for the health conscious
boomers. Take into
account that the average annual expenditures on health care
for people ages 45 to 54 the age group that is the heart
of the baby boom generation will be $2,695. When
budgeting medical expenses, baby boomers should expect increased health-care spending
as they age; for instance, those age 55 to 64 spent $3,262 and those 65 and over,
$3,899.
Expect those numbers to keep climbing as new medications and expensive
diagnostic tests add years to the baby boomers life. Cancer,
heart
disease and stroke
are the major cause of death in this age group. With obesity
on the rise and exercise waning, those figures may be even higher
for the boomers. Several
years ago, there were 4,041 continuing care retirement facilities
with many more projected to open. Many boomers could have parents
in need of such facilities now or may have to move into such
a facility themselves in the future. The good
news is that with more than 25,000 fitness and recreation centers
nationwide, it looks like exercise is getting more popular.
These are good places to visit on a regular basis for boomers
who are trying to become or stay physically fit.
Baby boomers
are making changes to live better as they get older.
57%
are adding more fruits and vegetables to their diet
47%
reduced the amounts of fats and oils they eat while adding Omega
3 rich foods to their diets
46%
are switching to more high fiber foods
44% have
started taking vitamins,
minerals, or daily supplements
35% are
watching their bad
cholesterol by cutting back on red meat.
The
cosmetics industry is looking forward to the aging population. Stores carry numerous
anti-aging skin care products aimed at people in this age group. The tourism industry
is hopping with senior travel
offerings as retirees take advantage of their free time to explore the world. If
you are a James, Mary or other baby boomer turning 60...enjoy the new horizons
and years of healthy living that have been opened to this generation and make
sure to save for those rainy days ahead.
About
the Author... Chiff.com Directory Editorial Staff
Related
Web Sites... The
Boomer Century
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