Key Influences On Baby Boomer Generation
Generational Differences Chart Traditionalists Baby Boomers Generation X Millennials Birth Years 1900-1945 195-1980 (1977-1994) 1981-2000 Current Age 63-438-27 Famous People Bob Dole, Elizabeth Taylor Bill Clinton, Meryl Streep Barak Obama, Jennifer Lopez Ashton Kutcher, Serena Williams. Many baby boomers felt that economic security was elusive. Studies on the baby boomer generation revealed several differences among the incomes of Hispanic, Asian, African-American, and white Americans. For example, the black baby boomers were considered to be inferior to the whites, although all the baby boomers did extremely well in school.
Starting in 1946, the baby boomer generation entered a much different world than that of their parents and grandparents. Below, we examine five of the most significant events that took place during the baby boomer generation and the physical objects that were left behind. Need for speed most wanted black edition cd key generator. The Civil Rights Movement, 1954 – 1968. Mar 15, 2020 These events shape the values of that generation which they later bring to the workplace. The core values of Baby Boomers include optimism, team orientation, personal gratification, health and wellness, personal growth, youthfulness, work, and involvement. The Top 10 Influences that Made the Baby Boomers Who They Are. How can you put a puppet on a list of the greatest influences on our nation’s largest, and presently most influential.
What Is the Boomer Effect (Baby Boomer Factor)?
The boomer effect refers to the influence that the generational cluster born between 1946 and 1964 has on the economy and most markets. This term first gained traction in the realm of technology and referred to the importance of simplifying the interfaces of consumer electronics to encourage the wealthy baby boomer generation to upgrade.
The term is now used to describe everything related to boomers; for example, their consumer habits, social media preferences, how marketers target the boomer generation and how the financial services sector can best serve boomers as their priorities shift later in life. The boomer effect is sometimes called the boomer factor or the boomer shift.
Key Takeaways
- The Boomer Effect (Baby Boomer Factor) refers to the influence of the baby boomer generation on the current economy and its outlook.
- Baby boomers are generally classified as those born following World War II, between the years 1946 and 1964.
- Baby boomers are soon retiring, meaning that economic activity will soon favor healthcare, elder care, medical devices and related industries that caters to that demographic.
Understanding Boomer Effect
Following World War II, in 1946, more babies were born than ever before: 3.4 million, which is 20 percent more than in 1945, according to History.com. This marked the beginning of the so-called “baby boom.” In 1947, an additional 3.8 million babies were born, a further 3.9 million were born in 1952 and over 4 million were born every year from 1954 until 1964. At this point, baby boomers represented 40 percent of the nations population.
Today, baby boomers hold a large amount of the wealth in North America, making them a prime market segment. As they have aged, baby boomers have shaped the focus of companies. Examples are the wide range of anti-aging products that target the generation, real estate aimed at people who seek to live longer independently, investment in health care, transplants, and advanced medical technology. Baby boomers are living longer than any generation before them.
Baby boomers are also affecting labor markets because they are remaining in the workforce for longer and holding onto jobs that would otherwise be filled by the next generation. This has had a positive impact on businesses because studies have shown a drop in productivity when boomers retire due to the loss of organizational intelligence. However, retirement at an older age may simply be delaying productivity reckoning until a future date.
Investing In the Boomer Effect
The baby boomers collectively have created trends that disproportionately benefit particular industries; therefore, investors can position a portfolio to take advantage of the boomer effect. Most of these investment opportunities are in the medical or medical services sector. Orthopedic manufacturers, affordable care homes, medical device makers, and pharmaceutical manufacturers will continue to show growth as more boomers age.
The oldest baby boomers today are already in their 60s. By 2030, one-fifth of the U.S. population will be older than 65, and some experts believe that the aging of the population will strain social welfare systems.
Pieces of the past have the power to tell a story or evoke a sense of nostalgia. That’s why significant historical objects like vintage posters, space age tech gadgets, and black and white photographs of cultural icons remain popular with contemporary collectors.
Though stamps and coins are among the most common historical collectibles, niche items like antique portraits and advertisements also do well at auction.
Often, collectors interested in history choose to focus on a specific subject or time period when purchasing items. Starting in 1946, the baby boomer generation entered a much different world than that of their parents and grandparents. Below, we examine five of the most significant events that took place during the baby boomer generation and the physical objects that were left behind.
The Civil Rights Movement, 1954 – 1968
Left: Signed photograph of Martin Luther King, Jr. on the set of Meet the Press, 1967. Sold for $11,250 via Bonhams (October 2013); Right: Signed photograph of Rosa Parks. Sold for $125 via Christiana Auction Gallery (October 2016).
Martin Luther King Jr. led the nationwide call for racial equality from Atlanta, Georgia. In April of 1960, King appeared on NBC’s Meet the Press. During the episode, he addressed the legal and moral ramifications of student sit-ins and the federal response to the Civil Rights Movement.
Dubbed “the First Lady of Civil Rights,” Rosa Parks devoted her life to activism in the American South. This is a photograph of Parks after her arrest for violating Chapter 6, Section 11, of the Montgomery City Code by refusing to give up her seat on a city bus to a white passenger. The resulting protest spurred a yearlong bus boycott that forced the city and the Supreme Court to reconsider its segregated transportation laws.
Signed photo of Muhammad Ali and Michael Parkinson, 1974. Sold for £450 via Simon Parr’s Auctions Ltd (February 2016).
In addition to being one of the greatest athletes of all time, boxer Muhammad Ali was a staunch advocate for civil rights and a symbol of pride in the African American community. Ali declared himself a conscientious objector to the Vietnam War after he was drafted, for which he was arrested and banned from boxing for three years. His conviction was later overturned by the Supreme Court in 1971.
The above photograph is from one of Ali’s iconic interviews with BBC presenter Michael Parkinson. Parkinson interviewed Ali about his career and his devotion to racial equality several times over the course of the 1970s.
The Space Race, 1957 – 1975
Left: Life magazine (July 4, 1969 issue) signed by Neil Armstrong. Sold for $1,100 via Alexander Historical Auctions (June 2010); Right: Three official NASA photographs signed by the astronauts. Sold for £744 via Dreweatts (September 2017).
Antagonism developed after WWII as the United States and Russia wrestled for the title of world superpower. This competition is epitomized by the space race of the 1950s. After the successful launch of Sputnik, a small Russian satellite, the United States mobilized its scientists to match their efforts. In 1969, American astronauts Edwin “Buzz” Aldrin Jr. and Neil Armstrong became the first men to land on the moon, bringing with them the flag of the United States of America.
The Election of John F. Kennedy, 1960
Baby Boomer Generation Facts
Left: “Youth for Kennedy” button. Sold for $656.25 via Heritage Auctions (February 2015); Right: “Vote for Kennedy” leaflet. Sold for $750 via Swann Auction Galleries (May 2005).
John Fitzgerald Kennedy ran for the office of President of the United States at the age of 43. During his campaign, Kennedy was confronted with claims that he was too young and inexperienced in foreign affairs to be President. An advocate for civil rights, Kennedy leveraged his charisma to appeal to underrepresented voters and eventually won against his opponent, Richard Nixon. The block-letter pamphlets and red, white, and blue campaign buttons created for Kennedy’s campaign remain iconic.
Beatlemania, 1963
Left: Vintage movie poster for “A Hard Day’s Night.” £450 via Antikbar Original Vintage Posters; Right: Rock-Ola “Yellow Submarine” Jukebox, 2001. Morphy Auctions (January 28).
Modern music was irrevocably marked by the contributions of John Lennon, Paul McCartney, George Harrison, and Ringo Starr in the 1960s. With a massive fan base and an unmatched collection of hit songs, the Beatles were revered as jewels of England when they arrived on American soil in 1964. Beatles memorabilia, from vinyl records to lunch boxes, is still collected by fans all over the world.
Woodstock, 1969
Left: Original Woodstock Festival Poster, 1969. Offered via Rock Legends LTD (April 2014); Right: Bruce Fleming, Black and White Photograph of Jimi Hendrix, 1967. Sold for $937 via Heritage Auctions (June 2017).
Generations Baby Boomers To Millennials
Woodstock took place over three days in New York in August of 1969. The fair, which was attended by over 400,000 people, featured performances by iconic musicians including Joe Cocker, Janis Joplin, and the Grateful Dead. Jimi Hendrix famously played a rock version of the Star Spangled Banner during his Woodstock set. This performance was emblematic of the significance of protest music during the era.