This chapter introduces a specific approach to demographic change, namely a generational perspective. Generations are groups of people born around the same time, who share a common identity and lifestyle because they have experienced the same historical events at similar points in their lives and have similarities in their lifecourses (Mannheim, 1928/1997). Generations differ in their size and also therefore contribute to population ageing to different degrees.

This chapter uses Finnish data on the baby boomers in order to investigate possible changes in post-retirement lifestyles. In Finland, the baby boom was exceptionally strong, and since birth the baby boomers have been highly visible in society. Now most have retired and are on the threshold of old age. There has been speculation that a new kind of ‘third age’ will emerge when the baby boomers are reaching retirement age, but still have, according to estimates of healthy life expectancy, a considerable number of active years ahead of them and have, on average, rather good opportunities for making life choices according to their tastes and preferences – which are expected to be different from those of earlier generations.

But is this really so? Are the baby boomers really forerunners or crucial drivers of what old age will look like in the near future? This chapter studies this with the help of longitudinal cohort survey data from the years 2002 and 2012, which allow age-adjusted comparisons between generations. Our study compares the activity-based wellbeing of mid-60-year-old baby boomers (born in 1946-50) with that of the preceding cohort, born 10 years earlier (1936-40), when they were at the same age.

The chapter consists of four sections. First, there is a description of the Finnish baby boom generation. Second, it discusses the concept of the third age, which is often used when new post-retirement lifestyles are explored. This is followed by an empirical section that starts with an analysis of whether the baby boomers are better positioned to live an active and satisfactory life than the previous generation at the same age. This is followed by an investigation of differences in activeness between the two generations. The last section summarises some of our findings and makes conclusions.