what is a baby boomer 
 baby boomer is a term used to describe those who were born from 1946 to 1964 they formed the largest generational group in u s history until the millennial generation slightly surpassed them the baby boomer generation makes up a substantial portion of the world s population especially in developed nations they ve had and continue to have a significant impact on the economy nez riaz investopediababy boomer facts and figuresthe generation of baby boomers emerged after the end of world war ii when birth rates around the world spiked the explosion of infants became known as the baby boom when 76 million babies were born in the united states alone 1several million baby boomers have died in the decades since but immigration to the u s has helped replenish the supply the u s census bureau estimates that the baby boom population has reached about 73 million based on 2020 census data the latest info available 2most historians say that the baby boomer phenomenon likely involved a combination of factors people wanting to start the families that they d put off during world war ii and the great depression and a sense of confidence that the coming era would be peaceful and prosperous the late 1940s and 1950s did indeed see a general increase in wages thriving businesses and an increase in the variety and quantity of products for consumers accompanying this new economic prosperity was a migration of young families from the cities to the suburbs the g i bill allowed many returning veterans although not blacks to buy affordable homes in tracts around the edges of cities this led to a suburban ethos of the ideal family consisting of the husband as the provider the wife as a stay at home housekeeper and their children 34businesses also targeted their children with their advertising and marketing efforts as suburban families began to use forms of credit to purchase consumer goods such as cars home appliances and television sets many boomers became dissatisfied with this ethos and the consumer culture associated with it as they approached adolescence this fueled the youth counterculture movement of the 1960s boomers are the longest living generation in history so far and they re at the forefront of what has been called a longevity economy baby boomers spent about 8 7 trillion in 2020 on goods and services a figure that s expected to increase to 15 trillion by 2030 according to a 2021 report from the brookings institution 5baby boomers held 51 8 of household wealth at the end of 2023 evidence that they continue to hold substantial economic and political power even as they get older they were distantly followed by genx at 25 7 6