Boomers: America’s Most Valuable Generation

Boomers: America’s most valuable generation but with a lot of angst.

I was sent a link to an article from the MarketingProfs website today that was quite thought provoking stating that Baby Boomers are America’s Most Valuable Generation.

The article Boomers: America’s Most Valuable Generation covers the impact that Baby Boomers are having on society.

There are a lot of us! The article states:

“By 2017, the Boomer generation, born between 1946 and 1964, is expected to account for 50% of the US population and control 70% of the country’s disposable income, according to a report by Nielsen. Moreover, Boomers stand to inherit $15 trillion over the next 20 years.

Now some 80 million strong, Boomers constitute 44% of the US population, 49% of CPG (consumer packaged goods) sales in the US (roughly $230 billion annually), 40% of wireless subscriber services, and 41% of those purchasing Apple computers.

In addition, Boomers make up one-third (33%) of all online and social media users. Close to another third of them—29 million—say they are heavy users of the Internet with over 8 million of them spending 20+ hours a week online”

Baby Boomer Anxiety

We are a huge block of society. Our purchasing power is enormous and we vote.  However, the article states there is growing worry:

“However, many Boomers are anxious about their futures, and are more focused on the challenge of finding a secure retirement, according to separate research from the AARP.

Among surveyed adults age 50 and older, concerns about retirement are the major driver of anxiety:

• 72% of non-retired Boomers believe they will likely be forced to delay retirement, and 50% have little confidence they’ll ever be able to retire.
• 65% have little confidence that they’ll have the means to live comfortably in retirement.
• 59% fear that the negative effects of the economic downturn on their retirement savings will force them to rely more heavily on Social Security and Medicare—programs they are concerned that elected officials aren’t doing enough to protect.”

If you are anxious about your future and retirement does not seem feasible, are you ready to make a Career Pivot? There are options other than retirement that our parents enjoyed. Download my whitepaper “Don’t Retire Even If you Can and What to do Instead – A Baby Boomer Manifesto”

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Marc Miller Career Design Specialist