From the category archives:
Baby Boomers grew up during periods of dramatic social change and they are often known as being a generation of trendsetters. Yet Baby Boomers may not realize that they are the single largest economic group in the United States. They have more discretionary income and their spending habits can greatly effect the changing economy.
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Retirement means different things to different people. Some soon-to-be retirees look forward to traveling, spending more time with their families or even enrolling in continuing education classes. Others long to explore new interests, rediscover the joys of a forgotten hobby or start a second career. Many retirees simply look forward to having a string of lazy days to themselves.
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While some Baby Boomers are heading into retirement, others are reinventing themselves as new business owners. There are many reasons behind this trend including the desire to make use of accumulated experience and the ease of starting an online business. Many Boomers are also excited to realize a lifelong dream of owning their own business and being their own boss.
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Whether it’s for a temporary or extended period of time, recent studies show a rising trend among Baby Boomers who are raising their grandkids. This occurs across all socioeconomic groups for a variety of reasons. Each family is unique, but these cases often involve painful situations including divorce, unemployment, incarceration, abandonment, substance abuse, neglect or death. In coping with the problems that face their families, many Baby Boomers find themselves thrust back into a parenting role, but this time for the care of their grandchildren.
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Baby Boomers receive a lot of attention from sociologists, marketing executives, and the media. There are many traits and behaviors that are commonly associated with Baby Boomers. However, as trends emerge through generational research, the Baby Boomer image presented is often very different from the commonly perceived stereotype.
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Many Baby Boomers have invested in savings plans with the expectation of taking an early retirement. However, retirement savings are often not enough to cover the costs of health care for those who are uninsured. This forces many potential retirees to either continue working to maintain their employer sponsored insurance plans, or retire and risk living without insurance until they are eligible for Medicare.
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InsideFacebook.com recently released the latest and greatest statistical data regarding demographics of users based on age and sex. What’s really exciting is the continued baby boomer Facebook boom! Year over year, from February 2009 to February 2010, Facebook users age 55 to 65 more than doubled from 3% to 7%.
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In February and March of 2009, baby boomers were the fastest growing demographic among Facebook users. A few short months later the activity for Facebook users in this age group dramatically declined. Speculation has been rampant over both the 55 and older Facebook boom and its subsequent rapid decline.
When baby boomers began flocking to the popular social networking site reporters asked, “Will this kill Facebook?” Many speculated that the younger generations would be unhappy to share a social networking site with their parents and grandparents. It was suggested that teens and young adults would leave in droves.
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The lure of a hot climate and sandy beaches leads many Americans from northern climes to retire in semi-tropical locations such as Florida or Southern California, or in the arid deserts of Arizona or New Mexico. Yet many of these retirees later opt for a second relocation to areas slightly more north. These retirees are often called “halfbacks” or “halfback retirees” as their new homes are “halfway back” to their original home states.
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Baby Boomers make up 28% of the population in the United States. Over 76 million Americans were born between 1946 and 1964, and statisticians believe that this generation will live seven years longer than previous ones. Because of the size of this generation of Americans, their spending power has always swayed the national economy. As Boomers begin to retire, cities and active adult communities that house them will experience growth.
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A recent study released by the National Association of Home Builders (NAHB) and MetLife Mature Market Institute revealed that a growing number of Baby Boomers are opting for age-restricted communities. Adults have been flocking to 55+ aged active adult communities in growing numbers to take advantage of active lifestyle options and low maintenance ranch-style housing.
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