Baby Boomers to drive the market one more time

77 million Americans are about to retire, many of them with disabilities, and they want to spend and get their way

Boomer rock stars (illustatration Next 50 magazine)
 

Unlike no other generation of retirees in history, Baby Boomers are 4 months away from retirement and about to drive the market one more time.
77 million Americans are in the group that were born after World War II and 1964. They created the 60s decade of protest and change, the stock market booms of the 80s, 90s and 00s.
Baby Boomers defined every major market except the current fascination with the youth market by Madison Avenue.
However unlike Gen X and Gen Y, Baby Boomers have accumulated the greatest wealth of any period in history. And they are about to change their priorities and the priorities of Madison Avenue.
And we aren’t willing to sit back and take anything. I retired at 50 years old ready to take on my next challenge. Since then I’ve started a rock band, built a home studio and began a budding career as a singer songwriter while publishing this blog.
We’re not taking it any more.
USA Today reports “The baby boomers’ spending is growing by leaps and bounds, outpacing the younger generations. For example, spending by U.S. consumers age 50 and older jumped 45 percent over the past decade, while spending of those younger than 50 rose just 6 percent during the same time.” 
“Other surprising facts include baby boomers buy a lot of new cars and technology. “They forget that people over 50 still have dreams,” said Matt Thornhill, founder of The Boomer Project.”
“Some marketers, including Best Buy, General Mills, Lincoln, Maidenform and Unilever, are courting these older consumers. Marketers are developing specific campaigns designed to peak boomer interest without making the boomers feel old or condescended to.” “Most marketing that targets Boomers presumes there’s something wrong with them that needs fixing. … It’s malady-based. For the most part, it’s not accurate,” said Thornhill.NACS Online
Boomers are going to start their final careers and they won’t be quiet. Look for an uptick in the sales of Gibson and Martin guitars as Boomers indulge desires they couldn’t afford as youngsters.
Marijuana and other taboos are going to come front and center. The plebiscite in California is just the beginning.

Boomers can’t escape disability
One third of all Boomers will have a disability between age 65 and 64 years. By the time they reach 75 years old 56% of them will have one or more disabilities.
Legislators and businesses who ignore the disability fact will find themselves shunned by Boomers who are known for getting what they want. They are not their parents who drifted off to nursing homes to live in quiet obscurity.
Boomers will change the face of living with disability in America. They will not be second class citizens or shunted to the back of the bus.
Social programs will re-orient themselves to Boomers or politicians will face a revolt from politics as it is today.
We want and will demand equal or first class treatment. The Times They Are A Changing one more time.

By Stephen Pate, NJN Network

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