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The term baby boom refers to a noticeable increase in the birth rate. The post-World War II population increase was described as a "boom" by various newspaper reporters, including Sylvia F. Porter in a column in the May 4, 1951, edition of the New York Post, based on the increase of 2,357,000 in the population of the U.S. from 1940 to 1950.
Canadian soldiers were repatriated later than American servicemen, and Canada's birthrate did not start to rise until 1947. Most Canadian demographers prefer to use the later date of 1966 as the boom's end year in that country. The later end to the boom in Canada than in the US has been ascribed to a later adoption of birth control pills. [25] [26]
A period of more than two million annual births from 1971 to 1974, with the number of births in 1973 peaking at 2.09 million, [14] is referred to as the second baby boom. However, unlike the first boom, this increase in the number of births is an increase in the number of births not accompanied by an increase in the total fertility rate.
The median age of first-time homebuyers has reached a record high of 38 years old, the NAR says. Back in the '80s, people were buying their first homes in their late 20s.
Assuming you’re following the 4% rule for withdrawals, that would amount to $15,361 per year — an increase of $2,004 each year. Add more to your retirement savings
Baby boomers now hold an unprecedented share of the nation's wealth, with those born during this specific period now officially holding approximately 51.8% of U.S. wealth as of the early 2020s.
Strauss and Howe use the birth years 1901–1924. [7] The first half of this generation, born between 1901 and 1912, is sometimes referred to as the Interbellum Generation . The majority of veterans who served in World War II were born during the second half of this generation, from 1913 to 1924.
Baby boomers’ full retirement age is 66 or 67, depending on the year they were born. You can begin collecting Social Security benefits at age 62, but doing so will permanently reduce your ...