You may hear the term “Baby Boomer” all the time and you may even be a boomer yourself, but surprisingly, some of the younger generations do not understand who the Baby Boomers are or how they have impacted our lives. Here, we provide a better understanding of the generation that saw many historical events in the U.S. and helped shape the future of this great country.
Baby Boomers are people who were born post World War II, from 1946 to 1964. They are known as the “Baby Boomers” because the birthrate in the United States was at an all-time high during that time period. Today, there are about 76.4 million baby boomers in America.
Baby Boomers are known as a hardworking community according to Sally Kane a Legal Careers Expert. Many boomers have successful careers because of their great work ethic. Many of Boomers parent’s suffered during the Great Depression, so seeing their parents struggle through those rough times helped motivate many boomers to work hard.
Boomers born from the year 1946 to 1955 saw the first man ever to walk on the moon, were growing up in the midst of the civil rights movement, and the assassinations of the John F. Kennedy and Martin Luther King Jr. Boomers that were born in 1956 to 1964 witnessed the Cold War, Watergate and the resignation of president Richard Nixon, and the oil embargo and gasoline rationing shortages.
Baby boomers grew up during a time when Rock n’ Roll was taking over the airwaves with such rock ‘n’ roll legends coming out of the woodwork as Elvis, the Beatles, and the Rolling Stones. Because of this, many people believe Boomers were the first Rock ‘n’ Roll fans and they made Rock ‘n’ Roll into what it is today. Boomers are very open minded and loved what these music artists provided to their culture. According to USATODAY, West a former DJ said “Baby Boomers made Rock, they consumed it. They’re the ones who bought the records. They’re the ones who still listen to rock in all its forms today”.
Some Baby Boomers have been struggling with saving their money for retirement and they are not retiring at the age they would like to. According to CNBC, “Only 60 percent of baby boomers report having any retirement savings. 36 percent said they plan to retire at age 70 or later. Only 27 percent are confident they will have enough for retirement.” Many are turning to various retirement tools to help. A reverse mortgage can help boomers 62 and older retire early. It can help with financial relief and may allow you to retire earlier than expected. Mike, a One Reverse Mortgage client didn’t plan on retiring until the age of 73, but when he found out about One Reverse he was able to retire 10 years earlier. It can do the same for many other boomers too!