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Oct
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The Pig in the Python
For years, the people born shortly after world war II have been labeled “Baby Boomers”. The US Census defines a Baby Boomer is “someone born during the demographic birth boom between 1946 and 1964″.
This cohort comprises roughly 80 million members with huge purchasing capability.
A lot of us, particularly advertisers, believe this body of people to be a consistent one; but doing that is actually a bad strategy. Historically the class has been considered to be composed of heretics, as demonstrated by the period of the sixties (e.g., free love, peace-niks and war protesters), but many Boomers are basically quite conventional in their sentiments and lifestyles.
People born in this time period are quite different in many respects: many (but not all) have children; some are grandparents and/or “empty-nesters;” others are alone, taking care of an aged parent, separated, gay, or belong to extended or alternate lifestyle families. Some are currently employed, some are retired, others giving serious evaluation to retirement.
Change Agents Affect All That They Encounter
There is, however, one distinguishing characteristic that has tagged this class – they are change agents. Due to their numbers, and relative wealth, they have had a metamorphosing impact upon life and economy in the US spanning the previous 6 decades. In fact, writer Doug Owram labeled Boomers “a shockwave,” and author Landon Jones has referred to them as “the pig in the python”.
This group has transformed nearly everything as they’ve moved thru their teen years, early adultness, their roles, the economy, etc. – and there is no cause to think that they have stopped their transformative actions on our world.
I’m expecting that the next realm to be impacted by this generational cohort is retirement.
I recall that as a kid, I considered any one aged 50, or more, was “old” but today, demographers consider 50 to be the beginning of Early Middle Age, and argue that Old Age doesn’t begin until age seventy five. Currently, Americans at age fifty can expect to live another 35 years, and thus, be “retired” for 20 years or longer – so what are they going to do with all that time?
During previous generations, the time of retirement was sometimes relatively fleeting and characterized by deteriorating health, limited funds, and few opportunitiess; however, for this collection of nearly 80 million Americans, those inhibitions don”t pertain. In their 30s, they gloated about “never growing old,” and now, it’s their responsibility to deliver on that claim.
So, just what are they intending to do with an additional 20 or 30 years of active aging? Modern diet and health care have significantly extended that period when people remain healthy and active (for example, my mother is in her 90s, resides alone, and still drives her own car).
Ways that Retirement Is Being Changed
Are the “Boomers” going to be willing to drag out the rocking chair, relax on their deck, and observe the world pass them by? I suspect not!
In general, members of this generation are on the path to self-actualization (as Maslow used the term):
* A lot of them have a lot of things they need to do yet in their lives.
* Considering they’ll have 20-30 years of time to fill, they will be interested in a wide selection of leisure past-times (e.g, travel, golf, at-home entertainment).
* As a effect of all this time, they also want to keep healthy enough to enjoy that time – so they are going to be very interested by products and services that will help them keep healthy and robust.
* A lot of them will essentially “reinvent” their careers – starting that job or position they’ve always dreamed about, but had to put off due to relationship or other needs.
* A lot of Boomers will begin their own firms, and the web supplies them with many possibilities they have never had previously.
* Education, novel experiences and things which will provide them with time freedom will be high priorities for this group of affluent Americans.
How will you allocate that time between work and play? Are there dreams that you have postponed for years but need to realize during your “retirement”?
If you are one of those folks wanting to launch your own business, give some thought to starting an affiliate or other internet business – but be advised that the problem with most online programs is that their coaching tends to be superficial. Unfortunately, you will need more education than they routinely furnish. One very good starting place for obtaining the skills that you will need is to join the Online Success for Beginners course.
