The wants and needs of Baby Boomers

The silver tsunami aka Baby Boomers (those born between 1946 and 1964) has hit!  Worldwide, there are in excess of 78 million Baby Boomers.  The world’s population is aging at a staggering rate.  In South Africa, and according to Stats SA, the population estimate of those aged 50+ in mid 2009 numbered over 7 million – 7 387 300 to be precise.

Those on the right side of fifty (remember that there is no wrong side of fifty!), find that we are more saucy and outspoken than ever before.  We may be 50+ but we are flaunting our new found style and spirit.   We are not ready to venture into our so-called “invisible” years.

“Prime Time” is the largest study ever carried out on South Africa’s mature market – this research was conducted by the UCT Unilever Institute of Strategic Marketing.  Professor John Simpson states that “age is an attitude, not a chronological event.  This age group comprises of a complex group of people who want quality and lifestyle.  65% of the over-60s are bond-free.  These Prime Timers have the time and the finances to enjoy life and they know what they want and when they want it”.  “Prime Time” has established that that people in this age group are money-savvy, discerning and smart, status-seeking, have new confidence, like to broaden their horizons, are techno-able, are healthy and body-conscious (or strive to be), are shoppers, family-focused and like “me” time.

So with over 7 million Baby Boomers in this country – what specifically do we want and need:

Travel

Travel ranks high on virtually every boomer’s priority list.  Now that the children are moving on, there is the freedom and money to go on ski-ing trips (spend the kids inheritance trips!).

Wear and tear (aka as fitness, healthcare and anti-aging)

Baby Boomers want to get into shape and stay in shape and lead healthy lives.  We do not want to give into the aging process and do not want this to mess with our “third life”.  We want to grow old gracefully and look to share mutual health concerns.  We now have the time and the inclination to add fitness to our lifestyle.  We would like intelligent solutions while we explore the ways and means of preventing and avoiding deteriorating health (physical and mental) .

Financial Services

We would like to have access to the most beneficial and advantageous products and services that are available to us in the marketplace, and we want to take great care of the “wealth” that we have accumulated.

Stay involved

We want to have fun – we want to get out and about and enjoy what life has to offer in all its spheres.  We want to be advised of what is “out there” and broaden our horizons in all facets of life, including entertainment, technology, finance, health and wellness, lifestyle, work, continuing education, travel, sport, leisure, home, garden, volunteering, dating and interesting events in the community.

Self-worth

We want to work as long as we can in either formalized employment or in an “encore” career.  We want to contribute and give-back to society.  We want to continue to have value which leads to self-worth.

Independence

We want to do what we want for as long as we can, without having to depend on others.

Family Ties

We want contact with and emotional support from our family.

Nostalgia

We do enjoy some kind of contact with the past that involves happy memories and experiences that are still strong in our minds.

South African Baby Boomers are part of this global aging phenomenon.  We believe that we have earned the right to many things – and this is where the YEI website comes into play.  The vision for the YEI website is to provide an environment where our over-50 readers can read about issues that are relevant to their daily lives, communicate with others, share stories and experiences and learn about the discounts and benefits that are available to this age group – we have earned it!