Boomers not planning to retire?
Marketing Vox published an article entitled Boomers Don't Retire; They Become their Own Bosses. Based on an analysis of a study conducted by Ipsos Canada, it indicates that:
For many Boomers, retirement is an opportunity to start a business and become their own boss.
15 percent intend to work for themselves until they die, according to a new Ipsos Reid (Canada) study of Boomers who have either retired early to start their own business, or intend to do so, reports MarketingCharts.
This is pretty interesting stuff because it means that the the largest U.S. demographic, the "baby boomer" generation (those born after World War II, between 1946 and 1964) which is at or nearing retirement age, is not necessarily going to retire en masse and move to rocking chairs on their front porches (if I can borrow from Dennis Hopper).
What does this mean for us?
- If you're a boomer, it means "retirement" doesn't necessarily mean retirement nor a fixed income — and it may mean going forward in a new sphere with renewed interest and energy.
- It bodes well for the U.S. economy because boomer retirement needn't mean a too-terribly steep drop in production.
- If you're in business throughout the boomer retirement era, it means that you may be able to do business with or sell to a large contingent of folks who wish to live a good life pursuing their interests — and it's up to you to determine what those interests are.
That's what I call a win-win.
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