Baby Boomers Will Trigger Many Trends
Boomer companions/caregivers where chosen as one of the top jobs of the near future, as chosen by MSNBC. They’re absolutely right. In fact, the Boomers will trigger several huge trends that have already begun to reveal themselves and will be in full swing just 2 years from now.
There are 78 million Boomers, and in the next couple years many of them will be turning 65, making them eligible for Medicare. 78 million! To give you an idea of how many people that is, it is the same amount that live in our three most populated states:
The Baby Boomers are going to begin retiring and hitting up that Medicare. Expect a surge in age-related illness/treatments such as Alzheimer’s and Diabetes in the next couple years. But is that really all that 78 million people can give us?
Hell no. You see, these people will be retiring and that will set in motion oodles of trends.
To start, someone must fill their positions at the workplace as Baby Boomers are one third of America’s workforce. This is something I pointed out in a post about Generation X. Gen X is set to take over. Know their tendencies, likes, dislikes, whatever.
Second, these people may be retiring from their careers, but some (actually, I think most… and so does CNN) will move on to an every-day job… either by necessity to pay the bills, by choice to fill the time, or to fulfill their lifelong dream of starting a business. You should see a boom in the following industries due to retired Boomers:
- Senior job placement and training services. To help them find a job they’ll be happy with.
- Volunteer and non-profit (especially the Peace Corps). Now that they have the time, many will volunteer it.
- Consultants. Many of these seniors will become consultants for the very field they retired from.
- Temp Agencies. Many people turn to them, and Boomers like them because it’s most likely how they started.
- Houseboats. Both sales and rentals. Boomers love them and can now actually spend time in them.
- RV’s. Oh this will be big. You heard it here first: I don’t care about the gas crisis, Boomers LOVE their RV’s. Boomers love to travel, and they’ll do it in an RV.
Third, Boomers are going to want to live in their dream home. The key is WHERE their dream home is located. Like I said: they love to travel, so Boomers have timeshares, second homes and favorite vacation spots all across the U.S. These are the places they will want to move to. So where are these?
In no particular order:
- Flagstaff, AZ
- Tucson, AZ
- Sedona, AZ
- Palm Springs, CA
- San Diego, CA
- Lake Tahoe, CA
- Aspen, CO
- Boulder, CO
- Tampa, FL
- Port St. Lucie, FL
- Sarasota, FL
- Key West, FL
- Orlando, FL
- Boca Raton, FL
- Fort Myers, FL
- Cape Cod, MA
- Santa Fe, NM
- Las Vegas, NV
- Reno, NV
- Myrtle Beach, SC
- Hilton Head Island, SC
- U.S. Virgin Islands
- Anywhere Hawaii
- OK, anywhere Florida
- The Caribbean
Boomers already own timeshares or second homes in these cities. I feel there will be a significant surge in population in most, if not all, of these cities/places over the next couple years as the Boomers move in permanently. They are already familiar with them and will want to spend their remaining days, and money, in the place that most makes them happy. Expect healthy real estate markets in these cities.
I’m sure there are plenty more trends as 78 million people are bound to produce many. Are there any you can see the Boomers setting off?
Related:It’s A Brave New World (And Other Biotrends)
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nice post, I think a lot of people aren’t aware of this trend yet, or not aware of how big an impact it will have. if you can predict what all these boomers will want then you can profit from the trend. one thing though, a slumping economy may hit these boomers in the pocketbook and give them less money to retire on. also, most baby boomers probably haven’t saved enough for retirement. but the boomer group is so big, that even if a small percentage of them have a good nest egg, it will mean a serious impact in the areas they choose to spend it. look for opportunity in Travel - Hotels - Medical - etc. look at what the 60+ crowd is buying now, and focus there.