Saturday, December 25, 2010

What Will Happen As Baby Boomers Hit Retirement Age?

Baby Boomers Approach Age 65 - Glumly - The Philadelphia Bulletin

The "Age Wave" is about to hit retirement. Baby boomers, from the very beginning, have changed the world as they hit various stages of life. Some describe this as sort of like the bump a pig makes as it is being swallowed by a python.

We saw this Age Wave prompt the building of hospitals, baby food, elementary schools, and sports shoes. Nearly everything you can think of has been touched by the expanding demand of the baby boomer age wave.

In just a few days, the first baby boomers will turn 65, the traditional retirement age. Many things about how baby boomers think will make a mark on retirement as well. According to this research by the Pew Research Center, one week from today baby boomers will start turning 65 at the rate of 10,000 a day for the next 19 years.

Answers to questions in this study point us to some of the changes we can expect in the future. Baby boomers don't think 65 is old. Baby boomers want to have more control of their lives. These are some of the factors already pointing to the emerging trend of baby boomers quitting their "day jobs" and becoming entrepreneurs. This is resulting from a desire to have a change from traditional retirement.

If you are a baby boomer, if you are someone who wants to sell to baby boomers, you may want to read this report. It is likely to point you to needs that will have to be filled over the next two decades. Filling needs is the sweet spot in life for entrepreneurs. You might even be inspired to join the baby boomer entrepreneurs.