Baby Boomers: A Burgeoning Customer Market

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Aging Americans are leading increasingly active lifestyles, whether seeking out exercise for health improvement or social activities for pure enjoyment. This group is dominated by the baby-boomer generation, which is made up of Americans born from 1946 to 1964. Many Americans have been delaying their retirement, and this trend is expected to prevail in the next two decades. With many baby boomers striving for the fountain of youth, this active generation will demand a specific type of retirement, different from that of older generations. Due to the generation’s size and wide variety of interests, baby boomers’ desires to offset the aging process has created opportunities for lenders, investors, entrepreneurs and others in a wide variety of industries, from online dating to motorcycle manufacturing.

The 78 million-person strong baby-boomer generation is working hard to counteract the aging process by remaining vigorous and engaged in various social and physical activities. They are living longer and have more accumulated wealth than any previous generation, characteristics that are helping them redefine retirement living in ways that are very different from their parents. They are willing to take bolder steps to maintain their vibrant lifestyles and try out new things, such as online dating, traveling and joining motorcycle clubs. In order to keep up with rising demand, companies across different industries have begun offering services tailored specifically for baby boomers, creating many opportunities for lenders, investors and entrepreneurs. The industries that successfully accommodate the needs of this expanding market are poised for growth in the coming years.

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