Who Is Sue White

The Pig in the Python

For decades, those Americans born shortly after WWII have been labeled “Baby Boomers”. According to the U.S. Census, a Baby Boomer is “someone born during the demographic birth boom between 1946 and 1964″.

This demographic includes roughly 80 million members with amazing purchasing power.

> The 50+ have $2.4 trillion in annual income, which accounts for 42% of all after-tax income (U.S. Consumer Expenditure Survey).
> Adults 50+ spend an average of $7 billion online annually (SeniorNet).
> Adults 50 and older own 65% of the aggregate net worth of all U.S. households (U.S. Consumer Expenditure Survey).
> By 2015, those aged 50 and older will represent 45% of the U.S. population (AARP).
> By 2030, the 65-plus population will double to about 71.5 million, and by 2050 will grow to 86.7 million people (U.S. Census).

Many of us, particularly advertisers, consider this group to be homogeneous; however doing so is really a mistake. Traditionally the group has been thought to be composed of rebels, as demonstrated by the period of the sixties (e.g., free love, peace-niks, and war protesters), but many members are essentially quite mainstream in their beliefs and lifestyles.

People born in this time frame differ in many respects: many (but not all) are now parents; some are grandparents and/or “empty-nesters;” others are single, caring for an aged parent, divorced, gay, or members of extended or alternate lifestyle families. Some are actively employed, some retired, others giving serious consideration to retiring.

There is, however, one characteristic that I agree has defined (and will continue to define) this cohort – they are transformers. In fact, author Doug Owram has called them “a shockwave,” and writer Landon Jones has described them as “the pig in the python”.

Transformers Change Everything They Touch

Because of their numbers, and relative wealth, they have had a transformative effect upon life and culture in the U. S. during the past six decades. This generation has transformed pretty much everything as they have moved thru their teenage years, early maturity, their jobs, the economy, etc. – and there isn’t any reason to believe that they have stopped their transformative actions on our society.

I’m betting that the latest area to be transformed by this generational cohort is retirement.

> One-third of the 195.3 million Internet users in the U.S., adults aged 50+ represent the Web’s largest constituency (Jupiter Research).
> The Internet is the most important source of information for baby boomers when they make a major marketing purchase, such as automobiles or appliances (Zoomerang).
> 50% of baby boomers plan to buy a new home after retirement (Del Webb Survey).
> 42% of all travel industry purchases happen online, and adults 50+ account for 80% of all luxury travel spending (Pew Internet and American Life Project).

I remember when I was a youngster, I thought anyone aged 50, or more, was “old” but today, demographers consider fifty to be the beginning of Early Middle Age, and propose that Old Age doesn’t start until age seventy five. Now, Americans aged 50 can expect to live another 35 years, and thus, be “retired” for twenty years or longer – so what are they intending to do with all that time?

In the past, the period of retirement was usually relatively short and characterized by poor health, limited funds, and few choices; however, for this group of nearly eighty million US people, those limits no longer apply. In their 30’s, they bragged about “never growing old,” and now, it’s up to them to deliver on that claim.

So, just what are they going to do with an extra two or three decades of active aging? Modern diet and medical care have considerably extended that time period when individuals stay healthy and active (as an example, my mother is in her 90s, lives alone, and still drives her own automobile).

How Retirement Is Being Transformed

Are the so-called “Boomers” going to be content to drag out the rocking chair, sit on their porch, and watch the world pass them by? I think not!

Generally, individuals of this generation are on the path to self-actualization (as Abraham Maslow used the term):

> A lot of them have a large “Bucket List” – i.e., tons of things they want to do before they die.
> Considering they’ll have 20-30 years of time to fill, they will be interested in a wide selection of leisure activities (e.g, travel, golf, at-home entertainment).
> As a consequence of all this time, they also want to stay fit enough to enjoy their “retirement” – so they are going to be very interested in products and services that may help them stay healthy and robust.
> Lots of people will essentially “reinvent” themselves – starting that career or occupation they have often daydreamed about, but had to put off due to family or other duties.
> Many will start their own businesses, and the Web offers them many opportunities they’ve never had before.
> Education, learning and things that will provide time freedom will be high priorities for this group of affluent Americans.

How can you balance that time between work and play? Are there dreams that you have put off for years but want to realize during your “retirement”?

If you’re one of those people intending to launch your own business, consider starting an affiliate or other online business – but be aware that most online programs offer very limited training. Unfortunately, you will need more education than they typically provide – knowledge is what separates the successful internet marketers from the unsuccessful ones.

One excellent place to start gaining the knowledge and skills that you’ll need is to join the Online Success for Beginners course.
.