Matt Thornhill, co-founder of the Boomer Project, wrote a thought-provoking article, “Viva the Vital!: What Will Next 10 Years Bring?” for the Richmond Times Dispatch in Richmond, Va.
In the article, Thornhill said the watershed event “of the past 10 years” was the day in April 2014 that Congress moved the full-benefits retirement age to 75. He said the stock markets finally sprang back to life, and grew 150 percent, making the retirement accounts of everyone at any age robust again. Thornhill also said the biotechnology industry fed much of that rebound.
Other predictions Thornhill made about 2020:
- Boomers in poor health can to retire at age 65 and receive Social Security.
- Older boomers who left the work force earlier in the decade at age 65 can return to earn more money to qualify for more benefits.
- Older boomers find jobs where they can tap into their vast experience and education to help solve other problems facing society. An example, the influx of experienced teachers into the school system transforms public education in this country.
- Boomers who stayed retired find time to give back to society, mentoring young adults in business. For example, two boomers provided the direction and mentoring to this decade's greatest entrepreneurs, the Smith Brothers, inventors of the hydrogen car.
- Boomers help swing the morality pendulum back toward decency and responsibility. As older adults, they’ve used their power of the wallet and the ballot to force both Hollywood and Washington to act more responsibly.
- Boomers end the idea of segregating older adults from the rest of society. They live with their children and grandchildren, or with their peers, looking after each other.
Thornhill ends the article by saying the war on terror rages on and airport strip searches are the norm. But, he adds:
We also find ourselves living in an America with a renewed sense of purpose – one where we can make changes for the good. Where we can work together to solve problems. And we can all get along.
Take a look at Thornhill’s article. It makes for fascinating reading.
Thronhill is co-author of "Boomer Consumer: Ten New Rules for Marketing to America's Largest, Wealthiest, and Most Influential Group."
The Boomer Project conducts market research, advises clients, offers training and workshops, and provides information through blogs and newsletters about boomers.
Copyright 2009, Rita R. Robison, Consumer Specialist
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