2.3.1 Baby Boomers’ Resources (Mobile TRAVEL Application) ‘Baby Boomers’ are forty plus year olds that were born post World War II and as they age their attention to health rise; they are also the more affluent demographic as they delayed having children and getting married; they have a tendency to buy quality (Wang and Hunter, 2011). Hunter and Worsley (2009) concluded that the retiring baby boomers even with a reduced income would not sacrifice spending on general well-being and would instead make cuts elsewhere. Baby boomers behold a reduced importance on convenience and therefore will spend more time on purchasing decisions (Worsley, Wang and Hunter, 2011). Mogilner (2009, p.220) backs up that ‘consumer’s expenditure of time carries a…
Kelsie Dodd Economics I Current Event 11/29/16 Boomers, Gen X-ers and Their Retirement Summary of Article: In the article I read, it covers the topic about the baby boomers and Gen X-ers concerns for their retirement plans. Half of those generations have claimed that they are concerned they will not be able to retire at their desired time. The concerns were more common with women as they were concerned if they would be financially able to do so (retire).…
The essay “Boomers and Other Cohorts”, by the writers David Foot and Daniel Stoffman is about different age groups. The thesis is “Before we can understand what demographics have in store for him and all of us, we need to know the various cohorts that make up the Canadian population” But you may be wondering what the word ‘cohort’ really is? A cohort is a group of people, who share a defining characteristic. These people typically experienced a common event in a selected time period, such as birth.…
Summary #2: “Baby Boomers: Every Silver Lining Has a Touch of Grey” In Paul Hyman’s essay, “Baby Boomers: Every Silver Lining Has a Touch of Grey,” the author analyzes the ways of managing money, monetary concerns and retirement contemplations of the children of postwar America in the U.S. As per a report by CNNMoney.com, a quarter of working class Americans is extremely negative about their investment funds and plan to defer their retirement until eighty years of age. Likewise examined is the manner by which advertisers can conform their procedures as per the states of mind of the people born after World War II. With educated and formal diction that creates a sincere and earnest tone, Hyman hopes to reach his audience of high-end marketers…
What impacts will the Baby Boom have on the 21st century in Canada? In order to comprehend the influences the Boomers bring upon this era, a brief explanation of the Baby Boom Generation is required. The Baby Boom was a time period consisting of people born from 1946 to 1965 (Aging Population: Impacts and Challenges). They lived in a time of great prosperity, thanks to improvements in the Canadian economy. This generation is special in various ways, moreover, they have tremendous impact on the Canadian population, government revenue and spending, also public services.…
Sixty seven rounds fired in thirteen seconds killing four and wounding nine others at Kent State in Ohio drew the attention of the whole nation and brought the focus of millions of Americans to the antiwar movement. This event on May 4, 1970, when Ohio National Guard members fired at Kent State students, forever shocked and changed the nation and made the antiwar movement a headline in newspapers everywhere. No person in the population of the United States ever thought that our own soldiers would ever shoot other fellow American citizens, let alone kill four innocent people. This incident brought the antiwar movement to new heights and attracted more people into the movement than ever before. Although there were many parts to the evolution…
The Baby Boom 1946-1964 The 2001 Canadian enumeration information on age and sex demonstrates that as of May 15, 2001, the middle age of Canada's populace came to an untouched high of 37.6 years, an increment of 2.3 years from 35.3 in 1996. The country's middle age has been rising relentlessly since the end of the time of increased birth rates in 1966, when it was just 25.4 years. The Cana What are baby boomers? North Americans born between 1946 and 1964 are all referred to as the Baby Boomers.…
The Baby Boom is a demographic phenomenon that occurred after the Second World War from 1946 to 1965. In fact, about eight million Canadian people were born in this period, causing economic, social, cultural, and political changes in each stage of their growing process. (Statistics Canada, 2013) Currently, Baby Boomers have started to approach the last stages of their lifespan, reaching formal retirement from work and therefore an increase in leisure time. (Cavanagh and Wendy, 2012)…
The generation is also seen as idealistic, optimistic and driven workers. Unfortunately, Baby Boomers are viewed as being bad with technology and resistant to change (Perry et al., 2013; Gibson…
Government assistance programs liability may increase from the current status. The federal liability could rise and double from current. Many economists anticipate aging boomers to create chaos in the housing market because a large percentage will remain in his or her home versus selling it. People are concerned that as million of Baby Boomers acknowledge retirement age will hinder America’s workforce. Fear of approaching labor shortage because of Baby Boomers retirement is reality.…
1. Purpose: “Are baby boomers a boom or bust?” 2. Information: To begin with, in order to resolve if baby boomers are a boom or bust, information is essential before answering the topic associated to baby boomers. According to Robnett and Chop (2015), “The graying of America continues to accelerate as the first of the baby boom generation (those Americans born between 1946 and 1964) turned 65 years of age in 2011”…
The baby boom has affected Canada with the increase of babies but it is now increasing the number of senior citizens. The birthrate of Canada raised after the end of World War 2 until 1964. A lot of people were marrying each other at younger ages and having children earlier which grew Canada’s population. The result of this was a 20 year buldge in Canada’s population, which is the baby boom. It was an increase of birthrates from 1946 - 1964.…
The baby boom represents the era with a substantial increase in births between the years 1946-1965. In 1946, after almost 20 years of economic depression, Canadians finally had a chance at the ‘American Dream’ working 9-5, the uprise of suburbia, time for recreational activities and travel. This new economic freedom led to more marriages and ultimately more children. Although what happens when 9.6 million children grow up at the same time in Canada and enter the workforce, then later grow old and retire. The baby boom helped shape the work force which has greatly impacted all the coming generations.…
Canada’s population has had drastic changes in the past 60 years. The cause of these extreme changes would be a nation-wide event of a large increase in children. Even though Our future is also dependent on our own choices, we cannot let history define our choices, This topic is very important to Canadians because it did not only shape the history of Canada but also the coming years, our future. They shape our future so drastically because the baby boom generated many new businesses and shaped the main industries of Canada and the Baby Boom children are the mothers and fathers of this generation, they have shaped our points of view and daily life patterns. In this essay I will talk about the negative and positive effects the Baby Boom has…
Baby Boomer Versus Millennial: A Marketing Opportunity By: Edgar Joel Aboy, BBM-MBA, 3rd Trimester, 2015-2016 Keywords: Baby Boomer, Millennial, Buying Preference, Similarities, Differences In this cut-throat marketing world, where technology and social media reign supreme in terms of marketing a new product to its prospective customers through advertising, word of mouth through over-hype media exposure by way of social media like Facebook, Twitter, Instagram and other social media platforms. Different gimmicks targeting different segments in our society like the Baby Boomers and the Millennials where both are proving to be worthy of marketing promotions as they are earning segments in our society today.…