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Demographics: Are Boomers the "Gloomiest" Generation?

July 24, 2008 by anne

Sad SmileyMatures were known as the “Greatest Generation”; will Boomers (those adults turning 44-62 this year) become known as the Gloomiest?

According to a report by the Pew Social & Demographic Trends Project, America’s Baby Boomers give lower ratings to their quality of life than other generations; to worry that income won’t keep up with inflation, and to believe that it is harder to get ahead now than it was 10 years ago. For example, when asked, “In the next year, how likely is it?”, 55% of Boomers said it is likely that their income won’t keep up with the cost of living, versus 44% of 18-42 year olds, and 43% of adults 63+.

Boomers are also less likely to believe that their standard of living exceeds their parents’ standard of living when they were the same age.

For example, Boomers rate their present life at 6.2 on a scale of 1-10, while 18-42 year olds rate their lives at a 6.5 and older adults at a 6.7

Pew researchers assert that Boomer attitudes are not just a product of current economic conditions, since they’ve always had a less positive assessment of quality of life issues. They suggest that these attitudes may be related to the attitudes and expectations about life that were formed when they were young.

Source:
“Baby Boomers: The Gloomiest Generation” - Pew Social & Demographic Trends Project, 6/25/08

Also see:
"Baby Boomers: From the Age of Aquarius to the Age of Responsibility," Pew Research Center, 12/8/05
"Social Inequalities in Happiness in the United States, 1972 to 2004: An Age-Period-Cohort Analysis," American Sociological Review, Vol. 73, No. 2, 4/2008
"Inside the Middle Class: Bad Times Hit the Good Life," Pew Research Center, 4/9/2008

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Generational Marketing

Generational Marketing is based on the premise that marketers must understand the underlying drives associated with different generations and how those generations interact with each other to be able to effectively market to them.

Generational marketing proponents believe that the generation in which people are born significantly influences who they are, what they believe, what their values are, life skills, and ultimately, what they buy. Members of a generation share the experiences of their formative years, including cultural, economic, global, political, and technological influences.

The chart below displays the birth dates and key influences of each generation.

 

 

    Generation Key Influences Birth Dates

    Matures
    “The Greatest Generation”

    		 Depression, New Deal, World War II, GI Bill 1909 - 1945
    Boomers
    The nation’s largest generation
    		 Great Society, Economic Prosperity, Suburban Expansion, Sexual Revolution, Rock ‘n Roll, Drugs
    		 1946 – 1964

    Early Boomers (1946 - 1955)

    Late Boomers (1956-1964)
    Generation X
    		 Divorce, Aids, Sesame Street, MTV, Crack, Game Boy, PC 1965 – 1976
    Generation Y, Millennials
    Echo Boomers
    The nation’s second largest generation
    		 The Internet, eCommerce, Boomer Parent Indulgence, 9-11, Oklahoma Bombing, Reality TV, Digital Music 1977-1994

     

    Notes

    1. Since there are no hard and fast rules defining birth dates for each generation, numerous researchers and writers have redefined the dates based on their beliefs and particular purposes. Thus, other sources may cite different birth dates for generational segments that are different from those cited here. For example, Baby Boomer birth dates have also been listed as 1945-1964, Generation X birth dats as 1965-1984, Generation Y as 1985-Present (2008).
    2. Matures are sometimes broken into additional groups: "The GI Generation", 1905-1924, defined by its participation in WWII, and "The Silent Generation" 1925-1944.
    3. Generational time spans vary because they are based on key influences during the formative years of that generation. Thus, the 1909-1945 birth dates of Matures span a 36 year period, while the 1946-1964 time span of Boomers is an 18 year period.

 

Sources:
MRI 2008
AdAge 060208
Rocking the Ages: The Yankelovich Report on Generational Marketing

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TeeBeeDee

TeeBeeDee is a social network.  According to the website, TeeBeeDee is "for people over 40 who believe that life is still to be determined. Learn from others, share what you know, and connect with people who want to keep on growing."

TBD.com

Thoughts on the Afterlife Among U.S. Adults 50+ AARP, June 2007

This study seeks to understand views of the afterlife among Americans 50+.

 

Source: Pew Internet & American Life Project

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