Ken Dychtwald (author of Age Power) thinks the US Finance Industry is licking its lips in anticipation of the ‘baby boomers much anticipated retirement roar’
He believes the industry is positioning itself as one-stop shops for retirement products, services and financial advice. With hopes of early retirement dashed by the bear market, the 50+ have to consider working well past 65 and are confused, even concerned, about their financial future. Well that is what Ken believes and he is probably right.
In addition to the usual demographic trends, Ken believes there are a few new factors that make this generation of 50+ different. First is the amount of wealth the will inherit (lots), the fear that the public health and support services will fail under the weight of numbers (unfortunately, probably true) and the retreat of corporates from providing pension support (already happening). Nothing terribly new in this article but worth a quick read.
This is a great article about how Canadian companies are adapting to the demands of the 50+.
I loved this comment from Roger Heeler, professor of marketing at York University, ‘There is some recognition in the market that not all people over 65 want to sit in a coach with 30 other seniors and two 20-year-old guides and be shown the sights they shouldn't miss before they pass from the mortal coil’
There are lots of examples of new companies and holiday packages for the 50+. This is a must read if you are in the travel industry. A few of the developments listed – holiday packages that enable grandparents, to take their grandchildren on holiday with them, Eldertreks a company that offers off-the-beaten-path, small-group adventure holidays ‘our guests want adventure by day and comfort by night without sacrificing the experience’, Elderhostel provides ‘study travel’ holidays sponsored by professional organisations, zoos, universities etc. The article contains a lot of useful links.
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