We hear a lot about baby boomers, but what are the facts? This demographic has done a lot to shape the world, and that hasn’t changed in recent years. If anything, the baby boomer generation is still playing a huge role in what is happening around them, such as buying homes, investing, and more.
Here are facts about baby boomers that are sure to make anyone from this generation proud.
1. There Are Two Groups of Baby Boomers
The wave of baby boomers hit after the end of WWII. Many soldiers returned home in 1944 and 1945 and then the first wave of baby boomers arrived, but there were more to follow.
The baby boomer generation extends from 1946 to 1964. They were named baby boomers due to the massive population increase. In fact, there were 76 million babies reportedly born during this period.
Interestingly enough, baby boomers are split into two groups, according to The Facts Site. The first wave, which extends from 1946 to 1955, is the leading edge boomers. The second group is known as the Generation Jones. So what facts do these groups of people share?
2. They Take Education Seriously
Many baby boomers chose to pursue college after graduating from high school, according to Community Literacy. This was a stark change from previous generations who chose to get married and have children as soon as they were done with high school.
This doesn’t mean that baby boomers chose to give up families, however, because that’s clearly not true. They simply found a way to pursue college while starting a family at the same time. Baby boomers then passed on this love for education to the generations that followed them. Many baby boomers aren’t done with their education and are choosing to go back to college in pursuit of more degrees.
3. They Heavily Support the Economy
According to Wise Bread, “Boomers earn a whopping 47% of all income in the United States.” Given all the generations in the workforce, this is a huge chunk of the economy. This is probably because baby boomers are more financially secure. They are also looking out for their loved ones, and help with bills, education, and more.
4. Baby Boomers Are Still Shaping the Language
The English language is constantly changing and evolving, as anyone with teenagers knows. There are new words being used every day, and many of the old words from previous generations tend to fade away as they are replaced.
The language introduced by baby boomers is still heavily in play, however, according to The Fact Site. Slang like “decked out,” “chill out,” and ”bummer” may not be as popular as modern terms, but they are still widely used by all generations.
4. Baby Boomers Are on the Move
An interesting trend happening with baby boomers is that they are the leading generation when it comes to buying new homes. There was a 10% increase in home buying amongst baby boomers in 2022, according to The National Association of Realtors. Baby boomers overtook millennials in the search for a new abode, and that doesn’t seem to be changing in recent years.
5. Some Baby Boomers Are Settled in Their Homes
While many baby boomers are packing up and heading for new homes, there are some who have no interest in moving. They are happily settled into their homes and never plan on selling. This could be due to good memories or the fact that they want to pass their home on to their children. Or perhaps they simply don’t want to deal with having to pack up their belongings only to unpack in a new place. Another big factor is the financial security that comes with owning a home. Either way, List With Clever reports that some baby boomers are settled right where they are.
This is having an interesting impact on the housing market, as fewer houses being sold means that younger generations are building new homes instead of buying existing houses.
6. Baby Boomer Technology Trends
Many of the technological feats we enjoy today are all thanks to the baby boomer generation, according to Million Dollar Sense. Without them, we wouldn’t have things such as personal computers, the internet, cell phones, and GPS technology. So much of what makes life easier today is thanks to baby boomers who paved the way.
7. They Aren’t Staying Home
Many baby boomers are eager to retire, but that doesn’t mean they are completely leaving the workforce. They’re just leaving jobs that they don’t find fulfilling or may be burned out on. Once they are free, some baby boomers are starting a second career that is much more aligned with their passion.
Some examples of secondary careers baby boomers are partaking in include becoming tutors or teachers, consultants, and coaches. They use their years of experience to pass it on to the next generations, who will never know how exciting it was to grow up with Elvis Presley or see the first ship going into space.
Baby boomers are also more focused on their health and are staying active by walking, doing yoga, playing tennis, and more.
8. They Buy the Most New Cars
That’s right, baby boomers seem to love new cars, according to Wise Bread. It used to be younger generations that invested money in new vehicles, but that’s changed in recent years. Baby boomers like to invest in high-quality items, which means buying new as opposed to used.
9. They Own a Huge Percentage of the Houses in America
This probably comes as no surprise. This Old House reports that over 40% of the homes in the U.S. are owned by baby boomers. While some baby boomers are moving into apartments where they don’t have to worry about things like mowing the grass or shoveling snow, as this is taken care of by the apartment complex, many baby boomers aren’t ready to make that move yet.
Baby Boomers, Discover Your Ideal 55+ Community!
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