The baby boomer generation is defined by Wikipedia as, “someone born during the demographic birth boom between 1946 and 1964.” Generally speaking, they are the post World War 2 babies. When the soldier boys came home the households “BOOMED!” Okay, let’s move on. So, in a new century, where are the baby boomers now? Many are nearing retirement with nothing to look forward to. Social Security and the 401k plan is not looking so good.
Outlook For Young Baby Boomers
Many young baby boomers are in their mid 40′s and early 50′s, and are still working multiple jobs. For a huge number of these there is not much to look forward to. They have been layed-off of their jobs after x number of years and are finding it difficult to rebirth themselves. Others are still with a particular company and are hoping that their 401k will be worth something when they retire. Also, the knowledge that Social Security may not even be around surrounds them. Add to this that a large amount of the population are not financially invested in their futures. There is a lot to be concerned about.
Outlook For Aging Baby Boomers
Their is a large number of original baby boomers that are about to retire. Well, so they thought. Those that are not in the 2% wealthy bracket, but are in the 98% not ready bracket, their is still an uphill climb. Just when you think that it is time to settle down, you can’t, because the money just isn’t there. However, in the mindset of the aging baby boomers is a different way of thinking that might even propel them to success faster than the younger baby boomers. You see these came from a generation that was educated, wealthy, and had strong morals and values. These were left unchallenged, ready to take the future, at least until the 60′s.
Marketing To Baby Boomers
Today, more than ever, the baby boomer generation has been targeted and marketed to because of their vast numbers and influence in the marketplace. But something else is being market to them, the idea of being in business for themselves. Never before, like now, in the 21st century, have so many baby boomers been targeted and getting involved in the MLM, multi-level marketing industry. Also, referred to as network marketing.
The promise of residual income and retirement without dependency upon social security and the 401k has appealed to millions. Many have gone on to become multi-millionaires too. But is it for everyone I wonder? No is my first answer. No, network marketing isn’t for every baby boomer. This industry is for a special breed that is willing to work their socks off for a couple of years. Many boomers lack this mindset. It was never taught to them. Oh, yes, anyone can spend a couple hundred dollars and jump into network marketing, but will they last?
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Great article. I agree. The recession is taking a toll on the baby boomer generation. I can say that because I am slightly older than that generation. But I don’t feel that old. And I have found a way to transition from corporate America.
Yes, many have seen their retirement savings hurt by the recession – the stock market crash and falling home prices. But I feel that most who have been hurt will recover.
Most are well educated, aggressive, and creative. Many have had successful careers. They are also accustomed to giving – giving to help others.
Many will find the work from home, internet network marketing industry as a great alternative for utilizing their abilities and helping others. I know they will succeed.
Scott Hubbard´s last blog ..Baby Boomers Turn Their Hobby Into Making Money From Home
There is no doubt that with today’s economy many baby boomers are flocking to the internet to supplement their incomes. heck, I’m one of them.
But if one doesn’t find a community they can get real help from, it’s very easy to wind up with a lot time working and nothing to show for it.
There are many options as you mention such as network marketing for one. And yes, it takes work like you’ve never done before but the rewards can be great. One has to persevere and be consistent.
Marie Leonard´s last blog ..Baby Boomers Concerns Keep Them Working