Back in 2009 when Pew took a look at the generations online, their survey revealed that while Millennials were the Internet’s most avid users, Gen Xers were the biggest online buyers. Four years later, a Forrester study reveals that’s still pretty much the case. According to the survey, Millennials are the most likely to use the internet to shop, with 84% having done so in the last 3 months compared to about 80% of Gen Xers. However, Xers spent the most online, about $561 a piece during the 3 months covered by the study compared with $489 from Millennials and… Read More
Categories: Baby Boomers, Blog, MaturesFollowing the Great Recession, most of the conversation about generational unemployment has focused on Millennials, who have the highest numbers out of work. But many Baby Boomers also lost jobs in the recession’s aftermath (second most among generations). Often higher-paid than younger colleagues, they were the first to go in many cases. Many of them have found that late-career unemployment has challenges that are different from being young and jobless. Too young to retire and too experienced for entry-level work, older Boomer workers tend to stay unemployed longer (55 weeks) than the rest of the unemployed (31 weeks). Boomers are… Read More
Categories: Baby Boomers, Entrepreneurship, Recession EconomySince their emergence as the youth market decades ago, Baby Boomers have expanded the consumer demand of each life stage or demographic they’ve passed through. Always avid consumers, Boomers promise to do the same at the senior stage, according to a recent analysis by McClatchy. While the discussion of Boomer aging has centered the effects of their retirements and entitlement demands, others see a key consumer generation entering a whole new market phase. “It’s only in Washington that 100 million people are viewed as an unaffordable cost and financial burden,” said an AARP exec of the new seniors. “In the… Read More
Categories: Baby Boomers, Blog, WorkWhile there are many threats to the performance of equity markets, the onslaught of Baby Boomer retirements will not be one of them, according to financial analysts. While events like the “fiscal cliff” or downturns like the one in 2008 will continue to affect market performance, the fear that a mass of retiring Boomers pulling their money out of equities would crash the markets is unfounded. While large numbers of Baby Boomers have begun to reach retirement age, their retirements should have little impact on the value of equities. For one, those retirements will be spread over 25 to 30… Read More
Categories: Baby Boomers, Financial Services, WorkAs the holiday shopping season shifts into high gear, Millennials and Baby Boomers both plan to spend, but each generation will shop in its own way. Millennials will use smartphone and online shopping about twice as much as Boomers. Boomers on the other hand, are much more likely to visit brick-and-mortar stores and use traditional coupons and sales. Millennials and Gen Xers plan to spend about $820 on gifts this year while Baby Boomers plan to spend about $760. The big difference is in how they plan to spend the money. About half of Millennials will use smartphones to compare… Read More
Categories: Baby BoomersAs Baby Boomers work towards retirement and see their kids off to college, many are finding that they still have a major responsibility: caring for their parents. 40% of Boomers are caring for their aging parents, all of the Mature generation. And it’s definitely affecting their lives and work: nearly 70% of Boomers report missing work to take care of an elderly relative. 60% have employed caregivers, 10% have left work, and another 10% have reduced the number of hours they work. Many are also caught between caring for their kids and their parents – the classic sandwich generation. But… Read More
Categories: Baby Boomers, Generations, Matureshttps://www.construction-institute.org/news/ac12-nextgen_story.cfm?section=aboutcii Above is a link to an association write up of a program I put together for them on how to get their next generation of leaders prepared for roles of responsibility – how to work with the leaders of today and how to prepare yourself for leadership tomorrow. We seated everyone at rounds and made sure no two people from the same company was together so that the workshop portion could function most effectively. It was two hours long, all customized for this client, with super results. Below is the quote from my CII point of contact for the… Read More
Categories: Baby Boomers, Matures, WorkplaceGood article in Forbes blog on parents getting involved with their kids job. I had a long conversation with a client last week over this very thing and many in the audience were incredulous that something like this would be happening out there. It is indeed and is coming to a workplace near you soon! http://www.forbes.com/sites/jennagoudreau/2012/03/13/youth-in-the-office-are-your-parents-meddling-in-your-career/
Categories: Baby Boomers, GenerationsAlthough Baby Boomers are known as the “forever young” generation, Generation X has now surpassed them in seeking cosmetic surgery and other procedures that help maintain a youthful appearance. According to the American Society for Aesthetic Plastic Surgery, Gen Xers (now aged 31-45) accounted for 43% of all aesthetic surgical procedures last year. Baby Boomers accounted for just 28%. Baby Boomers may be less interested in cosmetic surgery as they retire while Gen Xers who are reaching their career peaks may feel more pressure to “maintain appearances.” Gen Xers are also more likely to have postponed milestones of adulthood like… Read More
Categories: Baby BoomersMany of the oldest, or “Leading Edge” Baby Boomers are staying on the job longer because they like to work or they haven’t saved enough for retirement. But a good number of them simply wish they had that option. Older Boomers who have lost their jobs due to the recession are having a tough time getting back into the workforce, reports the Wall Street Journal. The unemployment rate among those ages 55-64 is about 6.5%. That’s below the national average but twice the rate for Boomers of just five years ago. More significant is the “underemployment” rate that also counts… Read More
Categories: Baby Boomers, Generations, Work