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 Get ready for the boomers
by Tom Campbell
September 2, 2010
Every sixty seconds an American turns sixty. Adults sixty-five and older are the fastest growing segment of our population. Known as the “Baby Boomers,” this group born between 1946 and 1964 has forged change in every decade since their birth, but nothing like we are about to see.
Begin with the workforce. At the turn of the century, 65 percent of men age 65 and older were still working. By 1950, that number dropped to 47 percent and in 2008 it was only 21 percent. Because many boomers haven’t saved enough for financial security and their retirement accounts have taken big hits, you can expect the retirement trend to slow or even reverse. But as they seek new employment, this group is running into America’s obsession with youth. Business, government, religion, in fact most all groups make a conscious effort to go young when making hiring and leadership selections. Boomers are already complaining about perceived age discrimination and will flex their muscles, either in courts or at the voting box, to change this trend.
Even those forced to work might not want full time work but they will demand meaningful things to do. Handing out smiley faces at Wal Mart doesn’t qualify. As a growing number work well into their seventies, many jobs will be redesigned so two or more part time employees can perform what had been a single full time task. Even in retirement, with children grown and gone, there’s just so much time they are willing to dote over grandchildren. This group will have a lot of leisure time.
There are opportunities aplenty for North Carolina. Many retirees have already relocated, especially along the coast, in the Pinehurst area and in the mountains. They are ideal residents, not putting large demands on schools or other public services; many have money to spend to boost local economies. Our communities could be destinations for those over 60, but must offer more than just pleasant weather and low property taxes. The boomers will want things to do, cultural amenities, educational and relationship opportunities.
Look for greater demand on smaller homes in friendly neighborhoods and more independent living communities with amenities that provide for a healthier, more active lifestyle. Restaurants will likely downsize portions (and prices) to accommodate smaller appetites. Movies and TV shows will feature older actors and deal with subjects more suitable to the over sixty audience. Retailers will stock shelves with relaxed fit clothing and other items targeted to the older set. Volunteer organizations will find a cadre of people who want to help but that doesn’t mean answering phones or stuffing envelopes. Enlightened religious institutions will recognize the large potential membership available to them and design programs that include religious instruction, mission work and relationship building. The travel and tourism industry will expand options. Could we see a Disney World for seniors?
That’s another thing. This group doesn’t like being called seniors, golden agers or prime timers. We need another name that doesn’t sound like it came from the 1950’s. But get ready, because here they come in large numbers. If we are smart, we can take advantage of this growing opportunity while also helping them enjoy their later years. |
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