So here’s an interesting one – at least from my perspective as a parent and as a speaker on generational topics. For 15 years I’ve been working with largely Boomer business leaders who are exasperated with the way younger generations behave in the business world. Time and again, I’ve considered – and occasionally pondered aloud – that the employees who don’t want to pay their dues and expect to be praised for showing up on time were raised with participation trophies and an “as long as you’re happy” mantra by the very people (collectively) who are now their employers and… Read More
Categories: Generations, Parenting, WorkplaceWhile tradeshow and event managers pride themselves on creativity, the basic structure and components of special events have been somewhat tried and true. A recent report by Amsterdam RAI demonstrates why savvy companies are smart to look at events and event marketing with a whole new light. Changing demographics = changing demands, and the younger generations have explicit expectations for how they wish to be engaged. According to the report, Millennials crave engagement and Generation X continues to be skeptical. This corroborates the experiences of many professional association clients that have expressed frustration with younger generations not attending their flagship… Read More
Categories: Baby Boomers, Blog, EducationGerald Crawford sent me an email yesterday. He’s from Northern Ireland, is a retired Baby Boomer, and offered this article for my blog. You can let him know your thoughts at gerald.inspired@gmail.com. The links are his own. Never too late to enjoy retirement How to make retirement the best time of your life by Gerald Crawford Retirement — it is finally here. With a head full of ideas you greet the first days of retirement with the enthusiasm of a “gung-ho” attitude. Unfortunately for most, the enthusiasm slowly turns to boredom and then depression, mainly due to the fact that… Read More
Categories: WorkAs the stock market indexes reach unprecedented heights, Millennial employment and wealth are still stuck at recession like levels. Despite the emerging “green shoots” in recent economic news, including declining overall unemployment, Millennial unemployment has been stuck around 11%, with a “real” rate of about 16% (including those who are not actively looking for work). This disparity, observers suggest, will only worsen the disconnect and distrust between the Millennial generation and the financial markets, as prosperity, in the Millennials’ view, seems to be available to everyone but them. Without the financial means to participate in the investment economy, they may… Read More
Categories: Financial Services, Generations, Recession EconomyA lot has been written about the effects of Baby Boomers retiring en masse over the next couple of decades – on employers, on markets, on healthcare, etc. Now, a new analysis from the Metropolitan Research Center suggests that aging Boomers selling off their homes will lead to the next big crisis in the housing market. Over the last few decades of the 20th Century, Boomers drove demand for single-family homes and accounted for most of that market. As they retire, they will begin to sell those homes but the market for them will be considerably smaller. First, the generation… Read More
Categories: Baby Boomers, Home Ownership, WorkWhile everyone seems focused on capturing the attention of Millennials, the Baby Boomers are still the “most valuable generation,” according to a Nielsen report. Over the next five years, Boomers are expected to account for 50% of all consumer spending and to control 70% of all disposable income, according to Nielsen. Fueled by aging Boomers, the over-50 cohort will account for 50% of the population in 5 years. That age group is growing at 3 times the rate of the coveted 18-49 demographic. Still, it accounts for only 5% of advertising. Boomers stand to inherit $15 trillion over the next… Read More
Categories: Advertising, Baby Boomers, BlogThe two youngest generations, Millennials and Generation X, are the ones most concerned about their spending, saving, and investing, according to a TD Canada Trust survey. In contrast, 80% of Boomers feel they are managing their money well, even if 56% feel they don’t have enough of it. Millennials are most likely (65%) in the survey to worry that they are spending too much, compared with 56% of Xers and 44% of Boomers. Millennials are also most likely (55%) to want to learn more about finance and money management. Meanwhile, Generation X has the most competing financial concerns, including retirement… Read More
Categories: Baby Boomers, Financial Services, Generations, Wealth, WorkMillennial investors are more conservative and less trusting than other generations of investors, according to a recent Accenture survey. 43% describe themselves as conservative and say they prefer (27%) the “tried and true” compared to 31% and 19% of Boomers, respectively. Millennials are also much more likely to consult other sources and not rely solely on the advice of a financial professional (28% vs. 7% of Boomers). 44% of Millennials say they do a lot of independent research before deciding to buy or sell. The good news for financial advisors: over 40% of Millennials say they are determined to build… Read More
Categories: Blog, Financial ServicesAccording to a survey for the American Psychological Association (APA) by Harris Interactive, Millennials are the most stressed out generation. A majority of Millennial adults report symptoms like difficulty sleeping that are usually related to stress. 40% report their stress has shot up significantly in the last year, compared with a third or less of older generations. Millennial unemployment is above 13% and over half of Millennial college graduates are in jobs that do not require a degree, which could account for some of the stress. Not surprisingly, Millennials are most stressed out by work (76%) and money (73%). Close… Read More
Categories: Recession Economy, Training IndustryThe wealthier the Baby Boomer, the more likely he or she will seek financial advice, according to an analysis by Millionaire Corner. Meanwhile, middle income or “Mass Affluent” (net worth between $100K and $1M) are more likely to self direct their finances. Only a quarter high net worth Boomers (>$5M) self direct their investments even though, as a group, they consider themselves very knowledgeable about finance. Meanwhile, 40% of the Mass Affluent group calls their own financial shots even though only 7% consider themselves “very knowledgeable.” Mass affluent are also the most likely (32%) to use an advisor on an… Read More
Categories: Baby Boomers, Financial Services, Wealth