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Demographics determine destiny, fortune
Elwood Carlson's book, "The Lucky Few: Between the Greatest Generation and the Baby Boom," says 41 million Americans born during the 16-year period that began with the crash of the stock market in 1929 and ended with the conclusion of World War II in 1945 were blessed by virtue of their comparatively small numbers and the fortunate timing of world events.
"It's the first generation that is smaller than the one before it," the Florida State University professor says in a statement. "This generation hopped on the gravy train with the explosion of white-collar jobs in the 1950s and continued to ride it right into retirement."
Although a military draft was still in place, most served in peacetime and took advantage of the GI Bill, while suffering only a fraction of the casualties of the "Greatest Generation" -- the name given to those who primarily made up the World War II generation.
Members of this generation married younger and started families sooner because they had health insurance and could afford a family, Carlson says.
"They are still fortunate," he says. "They're healthier, living longer and retiring earlier while the younger generations pay for their Social Security."
Copyright 2008 by United Press International
This news arrived on: 08/30/2008
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