Baby Boomers, between 1946 and 1960, are in their mid 50's a dangerous age. The oldest is 66, (soon to be 67) the youngest 52 with the medium age 56. At the beginning of the century those older than 50 controlled 80% of the personal wealth. We still do.
By understanding the Baby Boomers you will have a sense of what will be happening in our society over the next few years and why I am hopeful that the promise of the "just society" will return for our grandchildren.
1. The home is still seen as a sanctuary from the outside world and while many of us are in shock because we or friends lost their home, we still need our home to be our sanctuary, and our anger at those who have stolen our sanctuary is growing.
2. The average boomer worked at least 49 hours a week in 2001 compared to 40 hours in the 1960's. Time becomes very precious and as we watch our wealth decline we are inclined to work longer and smarter, as a result we are very aware and very unforgiving of those being wasteful with our tax dollars.
3. As a group, we believe in the youth, so as we mature we will fight the aging process.
4. Concern for the environment, and the ecology which had its roots in the 60's is alive and growing today, and many of the Boomers feel embarrassed that our Government (Canada) withdrew from helping the environment and that our government is a servant of the tar sands.
5. With less disposable income, people still want quality so even with less income, we still demand quality
6. Baby boomers are getting others to do the more routine tasks for them if they can afford to do this.
7. Once the first group of baby boomers pay off their mortgages they will have more disposable income. They will use this income on personal items. Sports such as golf will be very popular.
8. As career and ambition mature, baby boomers will become more concerned about family. The traditions of the 50's are coming back into style. People will spend more time with their families.
9. Baby boomers want to be the same but different than other generations and will work hard to be different.
10. Affordability Not all us are rich. Government taxes, the cost of living, and other life pressures will force us to either go into more debt or cut back on spending and look for the bargains.
Based on the latest stats, many of us are choosing to go deeper into debt, but as the majority get closer to retirement, the spending spree should start to slow down. We will be less tolerant of wasteful spending at all government levels, but we will still demand good health care and a strong pension program.