The baby boom generation is the demographic engine that has driven U.S. economic growth over the past 50 years. But now, as boomers work less, spend less, retire and draw on retirement funds, that baton is being handed over to Generation X and millennials. The economy is fueled by consumer spending, so the people who buy the most cars, houses, staples and luxury items are in a position to call the shots. How will younger generations handle their wealth and power?

But first, here’s a quick rundown of the generations, according to the Pew Research Center:

Silent generation: Born 1928–1945

Sterling National Financial Group

The principals at Sterling National Financial Group, LLC have pledged to provide financial solutions to our customers through smart planning and sound advice.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store