Baby Boomers Gen X-Ers And Their Retirement Analysis

Decent Essays
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). However, Millennials were confident about when they would retire and if they would financially be able to. Over half of each generation (Baby boomers and Gen X-ers) were absolutely not confident about their ability to be financially able to retire when they chose but over half of millennials

Related Documents

  • Decent Essays

    Baby Boomer Case Study

    • 180 Words
    • 1 Pages

    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…

    • 180 Words
    • 1 Pages
    Decent Essays
  • Decent Essays

    Gen X: 1965-1980

    • 85 Words
    • 1 Pages

    Gen X: During the years 1965-1980 is the years that this generation has experienced inflation, corruption, divorces, recessions, etc. At that time, technology started to grow within the community. Gen X is also a generation that is dedicated in increasing his or her work skills and is technical savvy. I view this generation as leaders based on the work and life balance that they developed. Even though baby boomers don’t think they are dedicated in life, they are a group that is creative and independent.…

    • 85 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    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…

    • 397 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    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.…

    • 566 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Baby Boom Research Paper

    • 1773 Words
    • 8 Pages

    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.…

    • 1773 Words
    • 8 Pages
    Improved Essays
  • Improved Essays

    As a consequence, concerns about the future effects of their retirement have caused new approaches in areas such as public services, industry, and real state. Firstly, Baby Boomers will challenge current services such as senior centres and public libraries to…

    • 1833 Words
    • 8 Pages
    Improved Essays
  • Improved Essays

    1). Thus, it seems that “the most striking statistics of recent years is increasing proportion of older individuals who are maintaining their own households… Additionally, about 56% of all noninstitutionalized older persons in 2007 live alone (19 million men, 38.6 million women)” (p.8). Furthermore, Kickman and Snell (2002) stated that, “it has been estimated that the economic value of such informal care-giving in the United States reaches $200 billion a year—one and a half times the amount spent on formal care giving” (p. 854). Moreover, “this growth in elderly could lead to a precipitous drop in the number of workers per elderly if current working and retirement patterns do not change” (p. 854). All these factors will assist in determining if baby boomers will befit a boom or a bust.…

    • 1082 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Furthermore, the median household in the age from 55 to 64 has little more than $100,000 in retirement savings. Can we conclude that a lots of Americans facing a retirement crisis? Will that affect the standard of living in later life? The article “Is There Really a Retirement-Savings Crisis?”…

    • 419 Words
    • 2 Pages
    Improved Essays
  • Superior Essays

    The Baby Boom In Canada

    • 1582 Words
    • 7 Pages

    Generation Y grew up with everything given to them therefore they feel no dedication and tend not to be loyal to employers, by their constant job hopping, which means no pension is being built up for them in their old age, they are going to pay for this in the future . Baby Boomers aren't retiring as quickly as expected, theoretically speaking this would affect the development for millennials by not allowing executive positions to be available and for some this is the case however, for most it isn't. The current trend for this generation is job hopping, which doesn’t permit millennials to develop loyalty for the company and causes the company to have constant openings for jobs. This means less profitability therefore keeping salaries at a stagnant level,. This could possibly cost some millennials their dream job because employers (most of which are boomers or Gen…

    • 1582 Words
    • 7 Pages
    Superior Essays
  • Improved Essays

    Social Security Future

    • 725 Words
    • 3 Pages

    Some believe Social Security will die out in the future. As stated, “By the time people who are students today are ready to retire, Social Security will not be available to them. This is because the baby-boomers retirement in such great numbers will bankrupt the system”. Is there evidence that proves this statement to be true?…

    • 725 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    The “baby boomers” are the generation born from 1946 through 1964, this is the largest generation in American history. With all of them reaching the age of 62 and retiring very closely together, it is draining the Social Security fund. “As Boomers begin to retire, the huge group of people putting money into the system will begin taking it out of the system, which then will be funded by a generation of workers—the so-called Gen X—whose numbers are some 15 million fewer. The surplus of money paid into the system by Boomers will allow it to run into the late 2030s, even though it will begin paying out more than it takes in by 2017.” (Reuteman, 2010)…

    • 847 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    The demographics of the United States have continued to change over the last ten years. During the next two decades, the aging population stands to significantly increase as the baby boom population transitions into the senior population. In 2011, the first of the baby boomers began entering the age of 65. The last of the baby boomers will turn 65 in 2030. In 2012, those 65 and older made up 13.7% of the total population.…

    • 298 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Nevertheless, we cannot replace the boomers because they “will remain taxpayers and part of the active economy far longer than most economists assume. It is likely that millions of boomers will be income-producing assets, not liabilities, on society’s balance sheet well into their 70s and beyond” (Moody and Sasser 2015, 473). Thus, the cost of replacing “the experienced older workers could exceed the increased expenses related to retaining them” (Moody and Sasser 2015, 474). Although, having a multigenerational workplace can become the source of conflict, the baby boom generation that pushed tolerance and diversity in the 1960s, needs to learn to accept younger coworkers with new ideas. As a result, “we need to revise tax and pension policies, as well as Social Security and Medicare programs” in order to have both the baby boomers and younger generations working side-by-side, without the need for conflict (Moody and Sasser 2015, 474).…

    • 716 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    The differences between Baby Boomers and Millennials are striking, and they deserve a thorough investigation to fully grasp the reasoning behind these…

    • 633 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Our population is aging, and despite Kesselman’s assertions, the question remains as to how younger people are meant to enter the workforce when many desirable positions are still being held onto by older labourers. It seems logical to think that one’s position on mandatory retirement lies largely based on which side of midlife you’re on. Younger people in general, who wish to have either a fulfilling career or at least a steady paycheck are likely to support mandatory retirement when they consider how a lack of automatic employee turnover damages their shot at a decent…

    • 800 Words
    • 4 Pages
    Improved Essays