Being a Boomer

There are some interesting statistics about the boomers and the impact they have had and will have on the rest of society. We are the first generation that used credit everyday and were comfortable owing more than we would make in a year (or several years). We are a very material generation, bigger homes, faster cars, more clothes, flashier jewellry. We are also the generation that will change what retirement looks like. The golden handshake at 55, 60 or 65 is not what many will want. Consequently it is projected that the segment that will grow the fastest in our economy of the next few years will be businesses started by retired boomers. (CIBC completed a study and found that seniorpreneurs will be be a sector that will continue to increase in numbers and in influence).

Often the businesses are completely different from the careers that the boomers have enjoyed throughout their working life. The artistic and creative side is finally allowed to be seen and heard.

Not only are boomers starting new businesses they are looking for services and products that may not be readily available. I spoke to one business owner, a tattoo artist, who told me the largest number of his customers were men between the ages of 60 and 65. The corporate leaders who didn't feel comfortable with a tattoo in the boardroom but who are certainly changing that when they retire.

Retirement has taken on a whole new meaning. Retirement is being alive, travelling, donating time to charities, fundraising, teaching in a foreign country, working part-time, socializing and building a lifestyle that centres around likes and passions and family and friends.