Retirement Read Time: 3 min

A Meal for All Generations

A Meal For All Generations. Millennials, Gen Xers, and baby boomers are often portrayed as a trio constantly at economic odds with one another. But how much of this is actually true? There's no denying that these groups are different, but they may have more in common than you might think.

Millenials: Born approximately between 1982 and 1996 (1). Driven, civic-minded, inclusive, ambitious (2). Historical Experiences: Columbine, 9/11, the Internet, the Great Recession. Motivations: Responsibility, self-care, experiences, financial well-being. Roughly 83 million millennials in the United States(3). The most diverse generation in U.S. history (4). Forty-five percent of millennials have a retirement account (5). Fun fact: Millennials read 5 books a year on average (6).

Generation X: Born approximately between 1965 and 1980 (7). Flexible, casual, analytical, self-reliant. Historical Experiences: The AIDs epidemic, the Fall of the Berlin Wall, the Birth of MTV, the Dot-Com Boom. Motivations: socially conscious, work-life balance, personal growth, learning (8). Roughly 50 million Gen-Xers in the United States (9). Gen Xers make up the highest percentage of startup founders at 55% (10). Gen Xers will outnumber baby boomers by 2028 (11). Fun fact: Only 41 percent of Generation X considers themselves part of Generation X (12).

Baby Boomers: Born between 1946 and 1964 (13). Hopeful, focused, hardworking, team-oriented. Historical Experiences: The Vietnam War, Civil Rights Movement, Watergate, The Space Race. Motivations: loyalty, duty, travel, family (14). Roughly 73 million baby boomers in the United States (15). Baby boomer purchasing power is a staggering $2.6 trillion (16). Baby boomers spend nearly $23 billion on their pets on average, per year (17). Fun fact: Baby boomers own nearly $13.5 trillion in personal real estate (18).

Sources: 1. Forbes.com, May 1, 2019; 2. PurdueGlobal.edu, 2020; 3. Forbes.com, May 1, 2019; 4. Brookings.edu, May 10, 2019; 5. BusinessInsider.com, November 11, 2019; 6. MentalFloss.com, March 17, 2020; 7. Investopedia.com, June 25, 2019; 8. PurdueGlobal.edu, 2020; 9. Investopedia.com, June 25, 2019; 10. PurdueGlobal.edu, 2020; 11. PurdueGlobal.edu, 2020; 12. Berkeley Economic Review, April 22, 2019; 13. Census.gov, December 10, 2019; 14. PurdueGlobal.edu, 2020; 15. PurdueGlobal.edu, 2020; 16. MSN.com, September 11, 2019; 17. Berkeley Economic Review, April 22, 2019; 18. Berkeley Economic Review, April 22, 2019.

Have A Question About This Topic?

Related Content

Capital Gains Tax When Selling Your Home

Capital Gains Tax When Selling Your Home

If your clients are buying or selling a home, use this to help them determine if they qualify for capital gains taxes.

Orchestrating Your Retirement Accounts

Orchestrating Your Retirement Accounts

Getting the instruments of your retirement to work in concert may go far in realizing the retirement you imagine.

Should You Tap Retirement Savings to Fund College?

Should You Tap Retirement Savings to Fund College?

There are three things to consider before dipping into retirement savings to pay for college.