Within the article there is also a chart that explains the titles of the various generations, from “The Greatest Generation” to the present “Millennial Generation”- according to their birth dates.)
According to the Fry article: “For a few more years, Gen Xers are projected to remain the “middle child” of generations – caught between two larger generations of the Millennials and the Boomers.” In other words – GenXers are for the most part the adult children of the large Baby Boomers generation.
This is of significance for estate planning because the Gen Xers are poised to inherit the role of ‘caregivers’ to the Baby Boomers. Baby Boomers are getting “out of the sandwich.” The Baby Boomer Generation (those born after the war) has often been described as the sandwich generation - simultaneously responsible for their grown children and their aged parents.
Those Baby Boomers now have another concern…not to become a burden to their adult children (those kids designated the Gen Xers) and making sure that their estates outlive them.
Note: Richard Fry is a senior researcher focusing on economics and education at Pew Research Center.
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