One of the biggest advantages of retirement is time … and the freedom to enjoy that time.
Escape from the Rat Race
Many Baby Boomers have spent decades working at jobs that were highly scheduled – with meetings and activities tightly packed from breakfast til dinner, and frequently, after dinner as well. Between work schedules and family schedules (soccer practice, music lessons, etc), the one thing they longed most for was some unstructured time in which they could do whatever they wanted – without worrying about their beeper going off, or the cellphone ringing, or a bunch of emails queuing up in the Blackberries.
A Great, Big “Bucket List”
They have a penchant for adventure and “experience”, and consequently, many have a long list of things they want to do, see, or accomplish before they die, i.e., they have a very long “Bucket List.”
Health & Stamina
As a group, they are healthier than previous generations – they even tend to look about 10-12 years younger than their chronological ages. For decades, Baby Boomers bragged that they were “never going to grow old.” Now, it’s up to them to deliver on that promise – and they intend to do just that during their very active retirements.
Fewer Responsibilities
While most (83%) have married and have children, about 34% are “Empty Nesters,” and 12% never married (about twice the average of their parents’ generation), so they don’t have the responsibilities of children at home, thus freeing their time to start their own businesses, pursue their life-long passions, explore life, and simply enjoy other interests.
Money to Spend
As a generation, they are also relatively affluent, and therefore, can purchase additional services that save them time and make their lives easier (e.g., lawn services, maid services).
Increasingly Internet-Savvy
Contrary to a lot of people’s pre-suppositions, Baby Boomers are not internet illiterates – in fact, it was their generation that invented the internet! Currently, Boomers and other seniors represent the fastest growing group on Facebook, with women over 55 making up the single fastest growing segment of Facebook users. Many will look to the internet to start new businesses (either full-time, or part-time) to keep them involved in the world at large and supplement their retirement incomes, ensuring that they have plenty of money to spend on their leisure-time pursuits.
Wide Open Consumer Market
This time freedom, coupled with health, vitality, and disposable income, is a dream come true for marketers – if they choose to embrace the Baby Boomer market. Boomers will seek out products and services that teach them something, inspire them, create adventure in their lives, or give them an interesting experience that they’ll remember for the rest of their lives.
If you’re a Boomer who wants to self-actualize by traveling and getting to know other cultures, check out the discounts available here: Primo Vacation Discounts.
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