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Tuesday, October 23, 2007

The Charmed Generation and the rest

I have written a lot about the Charmed Generation the group of 50-plus with high retirement income, lots of property wealth and no debt. I reckon that makes up around 2.5 million of the UK’s 17 million 55+.

Then there are the others. This report form Aviva (a Finance company with an interest in the equity release market) paints a very depressing picture. For instance:

Two thirds of over 60s get by on less than £10,000 a year

One in 10 retirees scrimp on holidays, clothes, socialising and even heating bills

Not surprising, Aviva think a solution to this problem is freeing up cash from property and they are probably right.

Even though the organisation has a vested interest in painting a depressing picture I fear it is correct.

If marketers needed further evidence (which they don’t) it is obviously essential to segment and segment again the 50-plus market. Dick Stroud

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