Basics
Generational Primer
Americans come in all shapes and sizes, races and religions, education levels and income brackets. Each of those attributes has an influence on how people view the world and handle their personal finances. But the most profound indicators are generational.
Dorothea Lange's Migrant Mother
Members of the same generation, by definition, have shared many of the same formative experiences that set them apart from other generations. Did they live through times of war, or times of peace? Did they come of age in an era of prosperity and rising expectations, or a period of economic turmoil and broken dreams? Were their families large or small? Were the heads of most households a mom and a dad, or did some include a mom and her boyfriend, a mom alone … or two moms
Did the dominant media in a generation’s childhood consist of radios and books, newspapers and television, or Cable TV and the Internet? Did their cultural icons include Lawrence Welk, the Rolling Stones or the Dave Matthews Band?
The mushroom cloud of the atomic bombing of Nagasaki, Japan in 1945.
While coming-of-age experiences make each generation distinct, so does a generation’s stage in its life cycle. Since the dawn of time, every generation has traveled the same path of youth, young adult, midlife and old age. Each stage is associated with predictable priorities. Youths are concerned about establishing themselves in the world. At midlife, they have reached the peak of their earning power and status. Old age brings a preoccupation with non-material values.
Twin towers of the World Trade Center burning.
The interaction of generational and life-cycle influences is complex — and the story for a given generation won’t be fully written until the last member passes away. But this primer gives you a starting point for better understanding each.
Click to view the generational profiles.
The Silent Generation
35 million
Born 1926 to 1945
Formative years: 1940 to 1955
Age in 2009: 64 to 83
Baby Boomers
76 million
Born 1946 to 1964
Formative years: 1956 to 1974
Age in 2009: 45 to 63
Generation X
62 million
Born 1965-1982
Formative years: 1975 to 1990
Age in 2009: 27 to 44
The Millennials (Generation Y)
80 million
Born: 1990-present
Formative years: 1993-present
Age in 2009: 26 and under