characteristics of baby boomers

1B111514 白海霞

1B111515 高芳

1B111516 刘亚玲

Directory• 1. United States 1.1 distress retirement 1.2 pressure on health insurance 1.3 United States economic impact 1.4 cultural impact• 2.Japan• 3. China• 3.1 features

Baby boomers-United States

• In the United States, the "baby boom" generation means after the end of World War II, people born in early 1946 until the end of 1964, approximately 78 million. This group caught up with the last century 70 's to the 90 United States economic boom, many of them young, middle age, investing in real estate or stocks, thought a more substantial wealth accumulation in old age, their retirement security. However, the financial crisis of 2008, many of this generation's investment and make the drain, they may have to face the embarrassment of retirement.

distress your retirement• According to the United States currently has 11

million mortgage debt than higher home values, with a significant portion of them are born in "baby boom" period of retirement.

•In addition, the potential health risks have become retirement crisis. United States most uninsured long-term hospitalization insurance, general medical insurance only covers two months of health care costs. As the "baby boom" generation of increasingly high age in retirement increasingly greater likelihood of illness and hospitalization, and once hospitalized, many people could not afford the high medical costs.

• Retirees Association is a United States not-for-profit agency, said saizifangde, head of its financial security, many "baby boomers" who was born is not foreseen in the period after retirement, their investments will deteriorate, which is the root cause of the difficulties of life after their retirement.

• In addition to their own economic difficulties, many "baby boomer" generation is facing there is old, and there are small "sandwich" embarrassment. The one hand, many "baby boom" generation's parents are still alive, those eighty or ninety years old man in need of care and on the other, because of the economic downturn, "baby boom" generation's children are likely to join the ranks of the unemployed, needs their financial support.

Pressure on medical insurance• In 2011, every 8 seconds a baby boomer born people upgraded

to 65 years old. Aimed at improving United States non-profit organization of the quality of life for the elderly United States Association of retired persons said, which means that the State pension in the medical insurance system this year, every day there are about 7,000 newly insured.

• This means that in 2011 alone, more than 2.5 million Americans will benefit the healthcare system.

• The next 20, it is estimated that more than 70 million people will be eligible for retirement health insurance. In 2008, taking care of the system there are 45.2 million.

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• With increasing number of the State retirement health insurance system, the estimated cost of this project will be increased from 3.6% in 2009 GDP per cent in 2030. This is largely because health care costs rising faster than inflation, but also because of this increased demand for health care of the elderly.

• These two factors give rise to concern, fearing State lifetime of the baby boomer retirement medical insurance system solvent.

United States economic impact• 1950-1970 baby food, toys, cartoons, Disney, and

pop music; 1980-1990 is the personal computer and the Internet 1990-2000 is baby boom peak of income and consumption, they started the boom of automobile, real estate, luxury goods and financial markets. 2000 years after the baby boomers reach old age, for tourism, they created a huge market for cosmetics, medicines and medical services.

• 1965-2000 are United States consumer height of the baby boom generation. During this period, consumer goods giants such as Coca Cola, McDonald 's, Nike shares rose 20-36 times.

• 1950-1970, the first wave of baby boomers: baby food, toys, animation, Disney, popular music

• 1980-1990, the second wave of the baby boom: personal computers, Internet

• 1990-2000, the third wave of the baby boomers: automotive, real estate, luxury, financial

• After 2000, the baby boom wave IV: travel, cosmetics, pharmaceuticals and medical

• "Baby boom" generation reaches retirement age in succession, on the United States economy will have a big impact. It is estimated that by 2030, Medicare and social security spending as a share of United States share of the gross domestic product would rise from per cent in 2010 to 11.2%, while the United States labour force growth will slow revenue growth also will slow, the fiscal deficit could be further expanded. It is predicted that by mid-century, United States pensioners retiring the old man and the employment ratio will be reduced to 1:2, United States Government is likely to face the risk of failure to pay pensions. In addition, the "baby boom" generation numbers are considerable, United States electoral politics influence should not be underestimated. Statistics show that over the next 20 years, for people over the age of 65 account for United States nearly 10% per cent of the total number of voters, democratic and Republican party in future elections and policy development must consider their positions and demands.

• "Baby tide generation", they while has knowledge and change of enthusiasm, but most people more willing to get a copies stable of work, stayed in a security of location Shang; they like simple of interpersonal relationships, but often performance out of is is complex of State; they like savings, and consumption thought more conservative, and rely on experience, focusing on merchandise value, but actual consumption of when is like wretched and shows off, to became consumption trendy of main. May be a coincidence that these characteristics fit exactly the social changes in China today.

Cultural influence

• Baby boomers are always leading the trends of European and American popular culture. Celebrity baby boom stars, Oscar of them Evergreen, Diane Keaton; United Kingdom current Camilla, Prince Charles, were what sociologists call the fashion of "baby boomers"--the representatives from Bill Clinton in the White House to George Bush, between alternating two baby boomer Presidents, little brother of the baby boomer generation, "generation y" has matured. "Generation y" youth to doubt everything – jeans, rock, hippie culture, the sexual revolution, women's rights, and war is their "hobby". Today, the baby boomers have grown into United States most large groups of consumers and voters, deeply affecting the United States political, economic and cultural.

Baby boomers-Japan• Japan baby boomers called "generations", "generation" there are

plenty of celebrities such as film director Kitano, love song Prince of small fields and are, the novelist Haruki Murakami, Stanley chuancilang, astronaut Mamoru Mohri, politician, Hatoyama and others.

• Hot topic of the 21st century, the largest, is to "go after the baby boomers retire? "By 2007, Japan baby boomers will reach retirement age of 60. Many Japan man decided retired zhihou and wife home shared family, even will annually January of last day will for "love wife day", in that day, Japan wife requirements husband returned to home loud on themselves said "thanks, I love you"; some baby tide female is committed to thinking self value, specifically research "new retired culture", created out "nomadic enjoy old" culture, to and husband do overseas long-term tourism, old has also to enjoy new experience.

Baby boomers-China• After the founding of new China, China has experienced five baby

boomers. First times is new China established of early, war caused population large loss, needs newborn full power; 1963 to 1974 is second times, national situation stability, people more than force raising next generation; to has Shang century 80 generation late, baby tide first generation has to has marriage times, third times baby tide with of comes; because MOM were are hope health a across century baby, raised has fourth times "thousand new years" baby tide.

• This generation of girls is "70hou" and "generation" of baby boomers. They know better than parents to pay more attention and fashion, they freely absorb the world's cultures, love to try new things, is fashionable and daring to say "no". Even if their parent still loves fashion and know how to enjoy the process of pregnancy. Than "60 's" braver, more affluent than their parents; they love the world, happy time – maybe they overlooked something, such as long queues before checking in obstetrics and a future, crowding together of health careers, employment of children will also face more pressure. But at least now, they enjoy, but happy.

characteristic• Characteristics of baby boomers is that culturally are more

optimistic, more willing to take the risk, economically richer, better social security, ways to be more active, they are ideal for consumers.

• Baby boomers are better educated. Urban population, was born in 1980-1984, 43%, college-educated. Their starting salaries higher than the national average of 25%, and they pay an average annual growth of 20% per cent. In short, they are the luckiest and richest first-time job-seekers.

• Baby boomers saving pressure is much smaller. Pension, health care and other social security they enjoy much more fully, so savings is a small demand. In other words, this group is and will continue to be active consumers.

Society "the backbone"• From an experience point of view, the "baby boomer"

generation is very unique. They have witnessed and experienced the intense time of change: the liberation of women of the 60 's of the last century, the civil rights movement, the anti-war movement, the environmental movement and the counterculture. These movements to the United States has broad and deep impact on the community and around the world. Of that number, they went through the 70 's and late 80 's social thoughts return to conservatism. Most of this generation of people active in all aspects of Government, schools, communities, businesses, and get into leadership, become society's "backbone".

Baby boomers give a boost to China's economy

• Demographic data shows that Chinese baby boomers in the next 15 years in 2006-2020 will continue to be the main production and consumption in China. 2006 the age 26~44sui, 2020, their age at 40~58sui. Baby boomers age showed that they entered mass consumption cycle, which will contribute to the prosperity of China's economy has entered a new round of labor force peaks.

• Predictably, as the peak of the baby boomers full access to production and consumption in the consumer market, prosperity. In the meantime, real estate, cars, upgrade, consumer goods, tourism, financial services, health industry will be booming. Housing demand, stock gains, China's largest automobile demand, manufacturing and transport development, sports and leisure and health needs as well as some emerging industries will be in the hands of this generation of baby boomers.

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