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Old 03-20-2015, 03:07 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649

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Technology zeros in on us...we're a real commodity now.

"More than 100 million Americans are now over the age of 50. Oxford Economics estimates their consumer spending accounts for $7.1 trillion in economic activity a year.

If that were the gross domestic product for a country, it would be the third largest economy in the world, just after the U.S. and China."

Of course it's not just tech, it's financial products, retirement communities, kinds of vehicles, medical procedures, etc etc.

They're going to miss us when we're gone!
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Old 03-20-2015, 03:59 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,581 posts, read 39,952,759 times
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Medical tourism will be a big(ger) business!

Radiation Vacations and such...

Hopefully my mom will be done with her handicapped van before I need one!


They're going to miss us when we're gone!
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Old 03-20-2015, 04:11 PM
 
Location: Great State of Texas
86,093 posts, read 72,507,006 times
Reputation: 27565
The reason is boomers have money and younger generations have debt.
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Old 03-20-2015, 05:15 PM
 
48,516 posts, read 83,932,349 times
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With the numbers said to be 26% of population a lot of things will change to serve their needs and wealth. I read just the other day that Fredericksburg has the highest number of millionaire per capita in Texas. I remember when going thru in 1979 it was a sleepy little town with most the buildings boarded up. Always tho very clean even then.
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Old 03-21-2015, 06:09 AM
 
29,782 posts, read 34,867,277 times
Reputation: 11705
Quote:
Originally Posted by newenglandgirl View Post
Technology zeros in on us...we're a real commodity now.

"More than 100 million Americans are now over the age of 50. Oxford Economics estimates their consumer spending accounts for $7.1 trillion in economic activity a year.

If that were the gross domestic product for a country, it would be the third largest economy in the world, just after the U.S. and China."

Of course it's not just tech, it's financial products, retirement communities, kinds of vehicles, medical procedures, etc etc.

They're going to miss us when we're gone!
So are or aren't they ready for retirement? Is this spending that is not being used for retirement planning for those in their 50's? Are these comfortable retirees in their mid to late 60's and beyond? Is this money in the hands of the top 20%? Spread out? Who is in demand? I find it interesting considering some of the other headlines. Could you share the link?
TY
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Old 03-21-2015, 09:42 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649
Quote:
Originally Posted by TuborgP View Post
So are or aren't they ready for retirement? Is this spending that is not being used for retirement planning for those in their 50's? Are these comfortable retirees in their mid to late 60's and beyond? Is this money in the hands of the top 20%? Spread out? Who is in demand? I find it interesting considering some of the other headlines. Could you share the link?
TY
Oops thought I did that. Here it is:

Tech startups see gold in Baby Boomers
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Old 03-22-2015, 05:20 PM
 
29,782 posts, read 34,867,277 times
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Quote:
Originally Posted by newenglandgirl View Post
Oops thought I did that. Here it is:

Tech startups see gold in Baby Boomers
I wish you had included the link in your OP and titled this thread the same as the article title. It ties in to Putnam and and income inequality as seen by the decline in social mobility. I am very familiar with inter generational social mobility and how it has declined over the years and as Putnam would argue is very minimally currently happening. There are many reasons for that and this thread is not the place to discuss them. What is relevant is that your link is about technology and seniors and most importantly monitors like Fit Bit which my wife and I love and live by. For retirees it is a game changer and could impact many of the the discussions we see in this forum about transitioning to retirement and life in retirement. Imagine if everyone wore a Fit Bit type device their last year working and their first year retired and saw the similarities and or differences in fit related behavior. It is so easy to modify and pick up your metabolism, activity level etc etc etc. Body movement is body movement and the more of it the better etc. However they cost money as will the new Apple Watch which could be a game changer for seniors. Again oh well this thread should have had some rich discussion about the impact of technology and the ability to apply technology in retirement. Those who pride themselves on still having a flip phone and professing a disdain for smart phones possibly have no idea the life changing impact apps can have on us. Tech start ups do and the ability to secure your future in retirement is becoming more expensive. How does one travel and live without Yelp?
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Old 03-22-2015, 06:09 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649
Quote:
Originally Posted by TuborgP View Post
I wish you had included the link in your OP and titled this thread the same as the article title. It ties in to Putnam and and income inequality as seen by the decline in social mobility. I am very familiar with inter generational social mobility and how it has declined over the years and as Putnam would argue is very minimally currently happening. There are many reasons for that and this thread is not the place to discuss them. What is relevant is that your link is about technology and seniors and most importantly monitors like Fit Bit which my wife and I love and live by. For retirees it is a game changer and could impact many of the the discussions we see in this forum about transitioning to retirement and life in retirement. Imagine if everyone wore a Fit Bit type device their last year working and their first year retired and saw the similarities and or differences in fit related behavior. It is so easy to modify and pick up your metabolism, activity level etc etc etc. Body movement is body movement and the more of it the better etc. However they cost money as will the new Apple Watch which could be a game changer for seniors. Again oh well this thread should have had some rich discussion about the impact of technology and the ability to apply technology in retirement. Those who pride themselves on still having a flip phone and professing a disdain for smart phones possibly have no idea the life changing impact apps can have on us. Tech start ups do and the ability to secure your future in retirement is becoming more expensive. How does one travel and live without Yelp?
My, how did elders ever survive in the past. Hooking up to a plethora of "smart" devices is cause for a thread in itself, and I believe someone did recently create one.

The point of my OP is that we boomers fall for everything, and why not some would say. People are getting hugely rich on us as a passing group. Some don't mind this and are making money themselves off it. Others think about it and don't like being gullible targets. I will not see the Second Best Exotic Marigold Hotel, for example (I saw the first to a bit of amusement), as it's playing right into "our crowd" as is everything else for the boomer lifestylers these days. YMMV.
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Old 03-22-2015, 06:40 PM
 
29,782 posts, read 34,867,277 times
Reputation: 11705
Fall for in some cases able to experience in
others.

Last edited by TuborgP; 03-22-2015 at 06:49 PM..
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Old 03-22-2015, 07:01 PM
 
14,260 posts, read 23,991,339 times
Reputation: 20072
Quote:
Originally Posted by newenglandgirl View Post
My, how did elders ever survive in the past. Hooking up to a plethora of "smart" devices is cause for a thread in itself, and I believe someone did recently create one.

The point of my OP is that we boomers fall for everything, and why not some would say. People are getting hugely rich on us as a passing group. Some don't mind this and are making money themselves off it. Others think about it and don't like being gullible targets. I will not see the Second Best Exotic Marigold Hotel, for example (I saw the first to a bit of amusement), as it's playing right into "our crowd" as is everything else for the boomer lifestylers these days. YMMV.


They generally did physical labor until they were 65 or until they died.

My wife strapped a pedometer onto her father who is farming well past 80. He reached 10,000 steps ... around 11:30 am.

Adopting technology?? Sure, I will do it -when it suits me. For me, I do not text or participate much in social media. However, my smartphone has effectively replaced BOTH my radio and TV.
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