These are Britain's 60 and 70 year-olds and have been described in a new piece of research as the luckiest generation alive.
Born to a nation of heroes, following victory after the Second World War, this generation has lived through more than six decades of peace, prosperity and technological innovation.
This research has shown exactly why this generation is classed as the luckiest on the planet. It was in 1957 Prime Minister Harold Macmillan told the British people that most of them had “never had it so good".
For those people who can count themselves amongst Generation V, these words turned out to be very true. This generation grew up with Elvis and the Beatles , the Swinging Sixties, and the birth of Colour Television. They benefited from the booming housing market of the '80's and the research has shown in the early part of the first decade of the 21st Century they actually held 80% of the UK’s wealth.
Proving that age is not an issue for this generation almost half describe themselves as ‘younger than my years’ and less than 1% think of themselves as ‘old’. This generation is not only fit in mind, but in body too. Nearly half of Generation V regularly undertake physical exercise three times a week - more than the recommended average for people of their age.
As part of the generation which has seen NASA put men on the moon and the invention of smaller and smarter mobile phones, the members of Generation V are certainly not shy of new technology. Many of them are as active online as much as they are offline. Generation V spend a great deal of time, and money, on the internet.
Keeping up to date with modern society and trends is also very important to them with 40% having an active Facebook account and almost 30% using Skype to communicate with friends and family.
However it is the power of the grey pound which sums up the positivity and ambition of Generation V. One fifth is still working but for most, this is the time in life to enjoy the fruits of their labour, and many of them they certainly are! They indulge themselves by dining out and going to the theatre, going on holidays often two or three times per year, and making improvements to their homes.
Long may it continue!