As the huge generation of baby boomers reaches retirement age, there are many things to consider. This indicates that about 77 million individuals will retire in the first 2 decades or so of the twenty-first century. This will create demands on several different aspects of society. Also, baby boomers are coming to retirement at a moment when government entitlement plans are being questioned and there is uncertainty about the future of essential programs like Medicare and Social Security.

Large numbers of aging baby boomers has implications on the whole health care system. With aging, there are unavoidable changes in health and in medical needs. Chronic diseases are common and need long-term medical care. There is already a health care crisis in the United States both in terms of shortages of medical personnel to take care of a large aging people and in terms of dealing with unprecedented rises in the cost of providing care. It is somewhat ironic that progress in medicine means that more and more people survive to old age, but their costs continue to spiral out of control.

Although some baby boomers have made excellent provisions for their retirement income, others have suffered much from financial tragedies such as the stock market plunge that devalued and depleted many retirement accounts. Bankrupt companies such as Enron have left retirees with nothing except very small Social Security checks and many employers are ending or highly restricting company retirement programs.

If the income of retiring baby boomers severely declines, this will have great impact on the economy. Baby boomers represent an enormous part of the American purchasing power and a reduction in their spending cannot help but influence the economy as a whole. Baby boomers will face many changes in lifestyle as they get older and retire but they will affect many others as well.

Even those with healthy retirement saving could face running out of money with longer life spans, inflation, and ever increasing health care costs. It is clear that public policy will need to consider the needs of this largest of age group as its members reach retirement. It is likely that many baby boomers will find it necessary to work long beyond the time they had intended to retire just to make ends meet. Fortunately, the employment market will expand enough to accommodate them if this happens.

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The Millennial Generation - Who Are They And What Have They Accomplished
Roughly the same size as the baby boomer generation, the millennial generation of about 78 million represents an echo of that baby boom. They are a demographic whose lives center around advanced technology. This generation is likely to have several changes in careers during their working years.

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The baby boomer generations can be divided into the initial group of people born in the first half of their generation and the "Jones Generation" born in the second half. More recently, the "Golden Boomers" have been identified as those in or nearing retirement.

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'Talking About My Generation" is the song that immediately comes to mind on hearing the words 'baby boomers.' And this is also true for an enormous chunk of American society. For the United States of America, the baby boomers generation is usually accepted to be that period from 1946 to 1964.

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The more than 77 million baby boomers currently account for more than half of all consumer spending in the United States. Just as their numbers made increased demands on the educational system as they entered school, this generation may bankrupt the health care system as they age.

The Baby Boomers - Facing Retirement & Aging In Addition To Plenty Of Troubles
The baby boomers are the "golden generation" born in the prosperity and relative peace following World War II. While most think of the boomers as the children of one continuous time period, others divide them into two sections, with those born between 1946 and 1953 being the original baby boomers.

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