The love affair between Baby Boomers and their cars has never grown cold. Boomers, the first generation with a car in the driveway for every driver in the family, continue to be automakers’ steady date. While Millennials have been relatively reluctant to embrace their own sets of wheels, carmakers have had no trouble wooing their parents back into showroom time and time again. According to a study by JD Power and AARP, older generations now account for 6 in every 10 new car purchases. For American carmakers, Boomers make up over two-thirds of all their customers. On the flip side,… Read More
Categories: Automotive, Baby BoomersAs we’ve noted here before, it often makes sense to treat Baby Boomers as two generations in one. The Early Boomers and the Late Boomers (aka Generation Jones) differ in some experiences and values. Now, some new market research suggests that Millennials may also be divided into two subgroups based on their different experiences of the Great Recession The study, conducted by marketing faculty at UMass, shows that older Millennials values have changed more due to their experience of the recession. That makes sense because Millennials in their 20s and 30s have been more exposed to the effects of the… Read More
Categories: Recession EconomyAt the turn of the century, economists estimated that about $41 trillion in wealth would change hands from one generation to another by the middle of the century. Now, a couple of new studies help clarify which generations will be inheriting how much. For starters, according to a MetLife study, Baby Boomers still stand to inherit quite a bit from their Mature parents. They estimate that over the next couple of decades Boomers will inherit nearly $12 trillion. According to the study, roughly two-thirds of Boomers will receive inheritances and the median inheritance or transfer will be about $64,000. That… Read More
Categories: Baby Boomers, Matures, WealthWhat do you think? Please go to the YouTube page (http://youtu.be/0NgSdaRJYJk) and weigh in w your thoughts. Cam
Categories: Baby Boomers, Generations, Matures, WorkplaceThe Baby Boomers are the generation with the optimistic and “forever young” attitudes. Perhaps that’s why they don’t feel so bad about getting old, according to a survey conducted by the National Council on Aging. More than 75% of Boomers and Matures over 60 surveyed are optimistic that the best is still yet to come and expect to maintain or improve their quality of life over the next decade. Senior Boomers do worry about money. About half of those surveyed are concerned about covering their bills in the future. And about a third are worried about paying for long-term care… Read More
Categories: Baby Boomers, Recession EconomyIn one of the first signs of the coming economic sunset of the Baby Boomers, Generation X has surpassed the Baby Boomers in few key indicators of credit card activity. According to Cardbeat, Xers now exceed Boomers in card use, balance transfers, and premium card ownership, among other key indices. While this transition was expected eventually, credit card industry observers are surprised it has come so soon. In fact, observers say, card issuers have not completely understood how to market to and serve the Gen X cohort. It’s an issue that is “in-progress” for most of them. Industry experts are… Read More
Categories: Baby Boomers, Bloghttp://www.newgeography.com/content/002960-are-millennials-screwed-generation Wonderful column on the plight of the Millennials in this time of “new normal.” Worth the read. What the author doesn’t mention is that the Millennials were raised to follow agenda and rules. They have. And now this. Bitterness? You’d better believe it. How will their bitterness manifest itself in ten, fifteen, or twenty years? No one knows. It could be a whole new level of activism to change their status quo. It could be reverting to their Boomer parent’s days of “tune in, turn on, and drop out.” When confronted with this size of an uphill battle, fight… Read More
Categories: Baby Boomers, Generations, Recession EconomyThe generation currently most likely to shop for groceries and cook at home, the Baby Boomers, will be spending less and cooking less. Meanwhile, the Boomers’ demographic replacements, the Millennials, don’t cook at home nearly as much. When they do, they are primarily interested in value (i.e., price) and convenience. That adds up to a tectonic generational shift for the grocery industry, according to a joint study by Jefferies and AlixPartners. Boomers, currently the leading grocery shoppers, are headed for retirement and fixed incomes and decreased demographic significance. They’ll be spending less when they do grocery shop, they’ll be cooking… Read More
Categories: Baby Boomers, BlogMore Americans than ever are working past the age of 65, according to Labor Department statistics cited by The New York Times. As longevity and health care improves, and as the economy remains tight, more Matures, along with the leading edge of the Baby Boomers, are deciding to stay on the job. Employment among every age group above 65, including those above 75, has risen steadily. The ranks of the 65+ in the workforce swelled noticeably in the last year as the first Boomers reached the traditional retirement-age milestone. “The fact of the matter is that this aging-but-not-yet-aged segment of… Read More
Categories: Baby Boomers, Matures, Work, WorkplaceA new Allianz survey shows that Baby Boomers think it’s more important for a family to pass on its non-material legacy than to pass on its wealth. 86% of Boomers said it was important for elders to pass on their family’s history and stories to their descendants. 64% place importance on the inheritance of family possessions. But only 9% consider a financial inheritance to be vital. The Matures, the Boomers parents, generally agree with their offspring though they place a relatively higher priority on leaving behind some wealth for their kids. In comparison with the same survey conducted in 2005,… Read More
Categories: Baby Boomers, Blog, Matures