Being the baby of the family is something that siblings covet and want. Younger siblings ruin that chance for the ones right before them while the second child ruined the only child possibility of the oldest child. Sibling dynamics completely change when the baby is official and no more children are coming.
I've been the baby of my family all of my life. I have a love/hate relationship with the situation. My siblings tend to think I get everything I want because I am the youngest. I like to think that my parents just think I need those things more regardless of whether or not that is the truth. I may or may not have gotten a car that was five years old when my siblings' first cars were closer to the age of 10 or more, but you know, that's OK.
Apparently as the baby of the family, you are also never disciplined or not disciplined like your older siblings. Speaking from experience, I have been grounded. Maybe it was only once, but it still happened.
Another thing about being the baby of the family that may seem less than favorable for those older siblings is that the youngest is always there to hang out with the older siblings friends. I can't say I didn't do it. Actually, it was a regular occurrence for me, but don't think my sister didn't take advantage of my need to be around her when her friends were over. I was the gopher. I did what I was told when I was told and only complained a little bit. I got sodas, food and was the human remote if the remote fell under the bed or somewhere else that was undiscoverable. I can also vividly remember my sister and her friends lying to me that I tagged them while playing hide-and-seek so that I would be "it" every single time. Those were the good old days.
Now, being the youngest is not all it is cracked up to be. My sisters are both married and one of them has two kids. They have both found the loves of their life and are happy living the lives they have with who they love by their sides. Watching them love their lives that they have made is incredible, but bittersweet. As the baby of the family, I have to wait longer for that life.