Planning to Retire

The Baby Boomer Legacy

July 28, 2009 RSS Feed Print

The baby boomer generation has left its imprint on every aspect of American culture. This large, but hardly cohesive, social group has presided over sweeping social changes, but also watched their own retirement prospects vanish just as they were about to claim them. So, what legacy will the baby boomers leave for future generations?

A recent Zogby Interactive poll of 4,811 adults conducted for the Aspen Institute gave respondents two choices about the historic legacy of those born between 1946 and 1964: self-indulgence or lasting social change. The most popular answer was the former. Some 42 percent of those surveyed said the baby boomers ushered in an era of consumerism and self-indulgence, while just 27 percent agreed that boomers would be remembered for helping to bring about lasting change in social and cultural values and ending a war. A significant percentage of the population also appears indifferent to the baby boomers, saying the will leave behind nothing really special (11 percent), they’re not sure (13 percent), or that boomers will be remembered primarily for some other reason (13 percent).

The baby boomers themselves, currently between the ages of 50 and 64, and their children aged 18 to 29 had the most favorable view of the baby boomer legacy, while those between the ages of 30 and 49 and especially those age 65 and older found the baby boomers to be especially self-indulgent. African Americans were the racial group most likely to credit boomers with social change, while whites were the most likely to call out their excesses. Republicans and Independents were more likely to point out the consumerism of the baby boomers, while Democrats were slightly more likely to credit the baby boomers with ending the Vietnam War and bringing about societal change.

Tell us, how will the baby boomers be remembered?

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Thought I'd pass on comments to Angry X-er of MD and others feeling the same. Instead of focusing on anger of babyboomers, why not look up to what your generation can do. Had babyboomers dwelled upon having survived WWII from our parents as well as be mired in the drug culture of the 60's, the growth that was created would not have happened. Many of today's doctors, scientists, engineers, and successful business people came from growing up and getting past what we saw. The challenge to you is to do the same and get past thinking we were narcisstic, irresponsible, and self indulgent. Had the boomers not done so, your life would easily have been far worse.
If you want complaints of self indulgence, I will share that I see around me those of your generation buying brand new cars like BMWs instead of accepting hand me down family cars instead of working to deserve new cars of our own. I see many not learning to save until you truly desrved to buy new things. I scraped and suffered until I had funds to buy my own car or homes since the early 80's. No, there was not a dime from mom/dad to buy many things. What have you done? Instead of whining about how bad inflation is as you might do, I had saved while interest rates were at 16% when I bought my home. Instead of partying on a regular basis, I earned the right to have tax writeoffs to help me pay for my very own home. Now, as I look back on what I have done, I truly can share to my young niece to not be like Gen X and instead be a Gen Y, an Echo Boomer, who can prove that it can be done.

Mikey of CA 1:46PM August 17, 2009

Well, the very general analysis of generations can hold true as to the influence of world events they lived through. For example, the pre-boomers had WWII's influence and the depression, while boomers were affected by post WWI growth and the Vietnam War. But the biggest thing about the baby boomers that is difficult to characterize is both the large size as well as the range of years that is much different than the following X and Y gens. Some are much like the previous WWII gen parents while others remain uniquely babyboomers both with '60s drug culture as well as the growth from business expansion the '70s and '80s. Much of the technology expansion is the result of babyboomers. X gens were previously looked upon as slackers and were frowned upon. But while many were, it would be unfair to label all of them as such. Meanwhile, Gen Y are also sometimes referred to as Echo boomers as many are influenced by similar factors as well as their genrations size are quite similar.

Mikey of CA 1:20PM August 17, 2009

There are good and not so good things to come out of every generation, no matter the 'sticker' given to that group to describe them.
It is inappropriate to class by age/dob. There are spoiled, the world owes me a living people in each generation as well as hard working, creative and caring people that truly make a positive difference. And, being somewhat in the middle, I have been (mostly) blessed to see them all!

Boomer of NV 11:57AM August 15, 2009

The Baby Boomer Legacy

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