How Baby Boomers will influence the Market up to 2031

2011 could be characterized as the Year of the Baby Boomer. Before I proceed further I would like to explain who the Baby Boomers are.
Are the people who have been born from 1946 up to 1964. This generation was driving the economy for the last 60 years. 2011 is a very special year for this age group because the oldest of the baby boomers will turn 65, the year many mark as "retirement age".  79 million baby boomers will turn 65 every day for the next 19 years!!!! Let’s have a closer look to the characteristics of this generation as the coming years the economy will be defined from these aging individuals. The first part of Baby Boomers who are also called oldest Baby Boomers are defined by their individualism, by their music, by civil rights advances, and by simultaneously fighting in AND protesting the Vietnam war.  This era welcomed a culture-shift that opened the doors to greater "enlightenment", "free love", and "flower power".  Make no mistake, the wants, needs and desires of baby boomers will drive entire markets the years to come. Also this target group will have the following characteristics: Money, Time, Affluence and Influence.
Their Worries


As Baby Boomers are facing retirement they are also concerned about their finances, and many believe that they will need to work longer or will never able to retire according to a new survey took place in USA (Source Associated Press-LifeGoesStrong.com). According to the same survey from the 77 million Baby Boomers only 11% they are confident that they will be able to live in comfort. 55% said they were either somewhat or very certain they could retire with financial security. But another 44 percent express little or no faith they'll have enough money when their careers end. Further underscoring the financial squeeze, 1 in 4 boomers still working say they'll never retire. That's about the same number as those who say they have no retirement savings. The survey also highlights the particular retirement challenge facing boomers, who are contemplating exiting the work force just as the worst economy in seven decades left them coping with high jobless rates, tattered home values and painfully low interest rates that stunt the growth of savings. Overall, nearly 6 in 10 baby boomers say their workplace retirement plans, personal investments or real estate lost value during the economic crisis of the past three years. Of this group, 42 percent say they'll have to delay retirement because their nest eggs shrank.
Though the first boomers are turning 65 this year, the poll finds that 28 percent already consider themselves retired. Of those still working, nearly half want to retire by age 65 and about another quarter envision retiring between 66 and 70. Two-thirds of those still on the job say they will keep working after they retire, a plan shared about evenly across sex, marital status and education lines, the survey finds. That contrasts with the latest Social Security Administration data on what older people are actually doing: Among those age 65-74, less than half earned income from a job in 2008.


Where they will spend their money?

Three of the primary obvious trends will be related to lifestyle changes: Health and wellness – their lives and people surrounding them will be greatly affected according their current health status, investing in any healthy food, health monitoring gadgets, and other health related businesses will be favourable in this moment and onwards. Business and Investments – well-off boomers will either invest their money in the stock market or establish their own businesses, credits and loans related businesses and financial consulting companies will experience an increase demand by next year. Second Career Path – also not all boomers prepared and saved enough for their retirement, so their work continues, many will be considering a career change and the most accessible channel to get their new education is through the Internet—an online course and education program will come in pretty handy.
Other trends related to travel, leisure and recreation, and real-estate will experience another boom. Boomers love to cherish and enjoy life after their freedom from work; they will spend more time for their families and friends enjoying and travelling to different places, hotels, resorts, recreational places, travel and tours related companies will really profit from these increasing demographic. Real-estate in warmer and low cost-of-living countries will be their best choice to settle for the rest of their lives; Americans, British and other first world countries who are retiring with a pension can greatly save their pensions worth, if they live in warmer countries that has the highest foreign exchange rate. Also, one of the major trends that will experience an enormous boom is in the field of communication and Information Technology. The Internet has already experience a surge of boomers using different online services such as in the email and social media industry, and the cellular phone or mobile phone industry; most boomers love to keep-in-touch with their friends and families.