A series of publications from the MetLife Mature Market Institute provide a history of the generations born since the early 1900s. There are almost as many members of Gen Y (born 1977-1994) in the U.S. in comparison to the largest group, the Baby Boomers. Younger Baby Boomers, those 45-50, have the highest average income. All groups spend most of their money on housing and transportation. The youngest, Gen Y, say they are the healthiest; they are also projected to live the longest. The fastest growing sub-group is the over 85 group who number six million, including 99,000 centenarians. They have also seen the most change as some were born before cars, central heat and refrigerators were ubiquitous.
“The profiles provide a snapshot of four generations. They look at demographics and, perhaps more importantly, the events occurring during their teen and young adult years that influenced their values and their viewpoints”
Individual profiles are available for Gen Y, Gen X, the Younger Boomers, Middle Boomers, Older Boomers and Americans 65+.
“The profiles provide a snapshot of four generations. They look at demographics and, perhaps more importantly, the events occurring during their teen and young adult years that influenced their values and their viewpoints,” said Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute. “These profiles will be useful tools for anyone studying the generations and for all of us interested in relating personally and professionally to those older and younger than we are. There are implications for parenting, caregiving, financial and estate planning, health care, relationships, employment, diversity and the economy.”
“While the younger groups have had advantages, like access to pre-school education, technology and advanced medical care, there are disadvantages as well. The economy has not been kind to those coming of age in the 21st century; they will struggle as they enter the job market during one of the most challenging times since the 1930s. Although previous generations have been relatively stable financially, many lived through war, the Cold War, Korea, and Vietnam, social unrest and discrimination,” Timmermann said.
The profiles, which pull together federal data from sources such as the U.S. Census Bureau and the U.S. Department of Labor, delve into information on population, life expectancy, health status, marital status, housing arrangements, racial/ethnic composition, geography, employment status, income level, spending preferences and generational influencers.
They list famous people born in each year from 1935 (Elvis Presley and Woody Allen) to 1989 (Joe Jonas and Daniel Radcliffe) and each profile contains a timeline of major events in the lives of a particular group.
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