If you didn't catch the beginning of ABC Television's series on Baby Boomers, you did not miss a thing. The focus was on the 76 million Baby Boomers soon to be retiring and why cities should be working to attract them.
While there are 76 million surviving Boomers, the youngest is only years old which is hardly near retirement. This is just crazy. What about the millions of consumers already over age 60? The median has discovered a way to continue to ignore older consumers as a group by focusing only on an 18 year demographic phenomenon. Further, the most recent research documents that 80% of Boomers will continue working well beyond their 65th Birthday.
The news report went on to focus on "the largest asset transfer in history" as if it would be equally divided among all Boomers and spark a major spending fury. Well, like the rest of society, most of this wealth transfer will go to a very small percentage of the consuming public. A case of rich getting richer perhaps.
Even the "experts" used to provide "color" to the news report don't seem to have a clue about what is really going on with this demographic shift.
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