I think some people, especially Gen X upstarts, believe me to be a little too proud of my baby boomer status. Whatever. Baby boomers are defined by the 60s decade. Some people nowadays look back on that time with a sense of nostalgia. Sure, a lot of cool things happened, but it wasn’t all drugs, sex and rock and roll. Some parts were downright ugly. Anyone who survived them without obtaining an arrest record, FBI file or change in country of residence is entitled to some bragging rights.
I’ve read several articles recently in which 20-somethings are complaining that if the baby boomers would just retire (roll eyes here), there would be more opportunities for them. Yet, there is a growing number of employers who are recognizing that following generations do not have the commitment or work ethic of us oldsters and are making efforts to encourage the experienced older employees to remain, rather than risk the expense of training someone just to have them jump ship a couple of years later. Employment analysts report that the total cost of training a new employee, including lost revenue due to reduction in prime production levels, on average, equals three times that person's annual salary. Average tenure on a job for baby boomers is 11 years. For Millennials, that number drops by half. That's a significant difference in ROI.
Quite frankly, you whippersnappers should probably think twice about pushing us to move out of the work force. It’s not just the impact on Social Security that has Congress nervous about baby boomers retiring. All you have to do is look at how marketing has followed the spending patterns of our huge demographic over the years to understand the power the boomer consumer has on the economy. Trust me... You do not want us having to severely curb our spending habits due to being on a fixed income. The numbers are irrefutable. Boomers have more discretionary income than any other age group, control $7 trillion of wealth, own 80% of all money in savings and loan associations, spend more money per person than any other age group and account for a whopping 40% of total consumer demand. Yeah, chew on that for a while.
Truth be told, baby boomers could just as easily claim that the recent change in attitudes regarding retirement age and Social Security is part of a conspiracy to keep our money flowing into the coffers. Ford Motor Company is certainly paying attention. It is the first and only automotive manufacturer to use a "third-age suit" to give younger engineers and designers a feel for the needs of older drivers. The suit mimics some of the physical restrictions that are common for people over age 50. Want to know why? It’s because the average American household purchases 13 cars over a lifetime — and seven of those are purchased after the head of the household turns 50, according to a survey conducted by AutoPacific.
And, that’s just the beginning. Experts predict that, by 2050, for the first time in history, the population over 65 will be greater than the population under five. You can have no doubt that, true to our history of setting the standard for social awareness by upsetting the status quo, baby boomers will drive the development of products that accommodate rather than discriminate, sympathize rather than stigmatize, and appeal to users of all ages and abilities. Just as we were the catalyst for change to make it easier for later generations to go to college, women to achieve C-suite positions and everyone to see what goes on in the oval office, all while teaching the world to sing (right before enjoying a Coke), we will effect change on the mythic limitations of age.
So, I make no apologies for being loud and proud of being a boomer. From birth, our very existence has effected social and economic changes, some due to our sheer number, others due to our collective beliefs, some good, some bad. But, we’re still here, and we are obviously still relevant. If you youngsters just absolutely have to blame somebody for our continued strength, blame modern medicine. Average life expectancy at the turn of the 20th Century was 45. It is now 78. When you get to be my age, it’ll probably be 100, and all the 40-somethings will be lobbying for you to step aside.
So, I make no apologies for being loud and proud of being a boomer. From birth, our very existence has effected social and economic changes, some due to our sheer number, others due to our collective beliefs, some good, some bad. But, we’re still here, and we are obviously still relevant. If you youngsters just absolutely have to blame somebody for our continued strength, blame modern medicine. Average life expectancy at the turn of the 20th Century was 45. It is now 78. When you get to be my age, it’ll probably be 100, and all the 40-somethings will be lobbying for you to step aside.
Age is nothing. Attitude is everything, so take heart with this... We made it super hip to be young. We are now making it super hip to be old — because that’s just the way we roll. You’re welcome.
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