Many Boomers who are retiring are choosing not to move away or, if they do, they are choosing non-traditional destinations. Increasingly, Boomer retirees are eschewing traditional Sun Belt retirement destinations like Arizona and Florida in favor of closer-to-home destinations in cooler climates like Maine and Washington state. Places like Camden, Maine and Medford, Oregon are now routinely named on “best places to retire” lists. Fewer Boomers are opting for the traditional golf-centered retirement communities in warm climates. “That’s the old view of retirement,” said David Savageau, author of Retirement Places Rated. “And it’s kind of dying out, the desert Southwest… Read More
Categories: Baby Boomers, Generations, WorkStudies of generational philanthropy show that different generations give to charity differently, both in amount and in how they choose a charity. Various studies show that donors from the Mature and Baby Boomer generations tend to give to charities that they are familiar with or have a personal connection to. Gen Xers and Millennials, on the other hand, tend to choose philanthropies that support causes that are important to them, even if those causes are far removed from any personal or community connection. So, while a Boomer might donate to a health organization because she knows those involved and affected… Read More
Categories: Baby Boomers, Charity, Generations, MaturesIn the 1930s and 40s, the Depression and World War II suppressed birth rates and created the Silent Generation (now part of the Matures) who were named “Silent” in part because there were so few of them. And the advent of the birth control pill in the 1960s had the same effect, leading to the “Baby Bust,” now known as Generation X. Now, the 2010 U.S. Census indicates that the current generation of children, born mostly to the smallish Generation X, represents the next “baby bust.” Census figures show that children now make up a smaller percentage of the nation’s… Read More
Categories: Baby Boomers, Generations, MaturesJust when Generation X is reaching its peak career and earning years, they are finding that the Baby Boomers won’t get out of their way. Many Boomers are delaying retirement due to the recession or simply because they prefer to work. In fact, the participation rate in the labor force among those over 55 is as high as it’s ever been. Xers, contrary to their reputation as slackers, are highly educated, career-oriented, and ambitious, but their path to the top is not clear. In a recent survey, 40% of them say they are not satisfied with their career progress and… Read More
Categories: Baby Boomers, WorkAppeals to nostalgia are known to be effective with Baby Boomers, particularly in marketing campaigns that evoke memories of the Boomers’ “flower power” youth of the 60s and 70s. Now General Mills has launched a campaign aimed at Boomers that features Cheech and Chong, counterculture heroes, and their “magic” brownies. While Cheech and Chong appear in their familiar roles, it’s the brownies that have changed. Now, appropriate to Boomers’ age, the “magic” ingredient in the brownies is fiber. General Mills is using the famous hippies and their association with “magic” brownies of the past to market Fiber One brand 90-calorie,… Read More
Categories: Advertising, Baby Boomers, GenerationsMillennials were first known as the “Echo Boom” because they were an echo of the Baby Boomers. As Boomers reached child-bearing age, their fertility rates (births per woman) were not particularly high, but the sheer size of the Boomer generation ensured that their offspring, the Millennials, would echo the population boom of their parents. Now that Millennials are reaching child-bearing age, fertility rates are shrinking even further. A recent Advertising Age analysis of census data shows that birthrates for women in their 20s declined more in the last two years than any time in the last three decades. In fact, the only… Read More
Categories: Baby Boomers, Training Industry, WomenHave you ever noticed a blinking or dancing ad to the side of the web page you were reading and wondered, “Who clicks on that?” Now we have an answer, at least a generational one. According to a recent JustAsk! survey, older Baby Boomers and Matures are the most likely to click through online ads while Millennials are the least likely. According to the survey, over three quarters of those over age 55 reported clicking through an online ad in the last 6 months. In comparison, just 58% of Millennials age 15-24 report clicking online ads. And the group in… Read More
Categories: Advertising, Baby Boomers, Downloadable MediaThe Baby Boomers are determined to remain “forever young,” even if they have to use all of their accumulated wealth to stay that way. Boomers have already pushed spending on anti-aging products to about $80 billion dollars a year and, by 2015, it will surpass $114 billion, increasing more than 40% in just about 3 years, according to Global Industry Analysts. Anti-aging products range from over-the-counter skin creams to expensive surgeries. Whatever the category, the entire sector is enjoying a boom that is likely to continue for the next two decades as Boomers turn 65 at a rate of about… Read More
Categories: Baby BoomersAt least 20% of Baby Boomers are helping their Millennial children or grandchildren realize the dream of homeownership, according to a Better Homes and Gardens survey. One in five Boomers surveyed had gifted, loaned, or co-signed in support of a Millennial’s purchase of a home. More than two-thirds expressed a desire to provide such support in the future to their children or grandchildren, many intending to do so on multiple occasions. This growing trend highlights a generational imbalance in wealth – Matures and Boomers have accumulated a lot of it whereas Millennials are finding it more difficult to get hold… Read More
Categories: Baby Boomers, Home Ownership, Real Estate, Training IndustryBoomers can be described as two generations in one. Leading Edge Boomers (or Early Boomers, b.1946-1954) and Late Boomers (or “Generation Jones,” b.1955-64) often exhibit different traits and tendencies as consumers. Their current attitudes about real estate highlight the differences between older and younger Boomers perfectly. A recent Coldwell Banker survey shows Leading Edge Boomers to be a generation preparing for retirement – downsizing, consolidating, conserving – while Late Boomers are still ambitious and acquisitive. According to the survey, only 6 percent of agents surveyed say their older Boomer clients are looking to upgrade, while 31 report that younger Boomer… Read More
Categories: Baby Boomers, Real Estate, Training Industry