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Baby Boomer Era/Retirement Enjoying - Assignment Example
Author : idooley
Finance & Accounting
Pages 4 (1004 words)
Baby Boomer Era and Retirement Enjoying (Institutional Affiliation) A baby boom is any time when there is a massive increase in the rate of birth within geographical and temporal bounds. Those born during this time are known as baby boomers…
Demographer refers baby-boomer era as the generation born between 1947 and 1966. Last Centuries, the world had eight different cohorts each having a different impact on the economy and society. The Baby-Boomers account for over 30% of the world population. This group has a strong impact on the world market (Harvey 2008). Baby-boomers will continue having the massive impact on the structure of the world's population Baby-boomers consists of people between the age of 40 years and 59 years. This group has begun retiring from the workforce. Following this era, the world's population and birth have drastically declined as the population rises. The reduced growth rate attributes to low births while the rise in population is because of longer life expectancy. The growth rate spike occurs after the Second World War which is consistent with the rising birth rate. The effect of Baby boom is recorded with the rise in the middle-aged population, and the future middle-aged group. In 2005, the birth rate was 1.03 percent of the world population; the number of dependents is increasing and may become a set back on the economy and to the government. The ratio of the baby-boomer era to the whole population has risen since 1996, and this will increase overtime (Harvey 2008). Harvey investigated the spending and saving habits of baby-boomers who consider themselves as not ready to retire. ...
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