The Baby Boomers

The oldest Baby Boomers are now in their 60’s, but instead of looking to retirement many of them are electing to keep on working. The present economic situation is one reason for continuing to work, but there are other factors peculiar to this group that reflect new ideas that are against early retirement.  

In a recent survey, some 76% of Baby Boomers said they intended to carry on working and earning in retirement. Generally, they expect to retire from their current job in their early 60’s, and then start an entirely new career. 

Over a third in the survey indicated that continued income is important, but over two thirds insisted that challenge and mental stimulus were other reasons to carry on working. More than 80% cited a need to accumulate necessary resources as vital for when they actually do retire.

Previous generations of retirees eagerly looked forward to retiring to the slow pace of pottering around the home, occasional fishing, golf or holidays. Growing old gracefully was the order of the day. This is not the lifestyle of Baby Boomers.

With aging being treated as a health issue, many Baby Boomers use exercise as a tool in an effort to slow down the aging process. In combination with the eating of health foods, exercise is seen as a way to keep fit and stay younger. You may see that people dressed for power-walking in the streets these days are not only young ones. It’s not just the younger generation acquiring gym memberships either.

It won’t be all work for Baby Boomers as many of them will mix work with leisure. Travelling to destinations that they have dreamt about for years will often involve extended leave from work, something they will be in a position to do if they are working on a part-time basis. Saving money for those trips would have been easier for them than their parents, who would have probably kept the money in the bank.

Baby Boomers are considered ideal targets for marketing products and services. With the more than 78 million Baby Boomers in America alone with a yearly spending power of over 2 trillion dollars, there is a huge market available for businesses to harness. As many Baby Boomers are online, it is useful to know that they like to spend money – and have money to spend.