Baby boomers are hungry for different things than millennials – Food Dive

Dive Brief:

  • Millennials may snag much of manufacturers’ attention these days, but baby boomers have their own perceptions and attitudes toward food that manufacturers should keep in mind, according to a study from the International Food Information Council (IFIC) Foundation. Boomers are more apt to consider whole grains (80% vs. 70%), plant proteins (75% vs. 63%) and omega-3 fatty acids (71% vs. 59%) as healthy, compared to millennials.
  • Boomers are also more inclined to seek out foods with different health benefits, such as weight management, cardiovascular health and digestive health. Millennials, on the other hand, trend toward mental health, muscle health and immunity.
  • Nine in 10 of boomers who recently adjusted their beliefs on added sugars said they have reduced their intake. Boomers were more likely to view added sugars as less healthful than they did before compared to millennials (37% vs. 29%). Boomers were also more likely to consider low-calorie sweeteners as a factor in weight management than millennials (31% vs. 14%) and the population as a whole (18%).

Dive Insight:

With all of these differences in mind, manufacturers realize they could have very different consumers to please with the same product and marketing strategies. If they plug one health benefit, one generation could pass the product by. Promote another health benefit, and the other generation walks. It’s a key reason why experts say manufacturers should consider segmenting out their ideal consumer and developing the product and marketing materials specifically for that one demographic. Appealing to a broad audience can backfire, especially among generational divides in food perceptions.

The study’s findings reveal compelling implications for manufacturers of better-for-you foods, such as that boomers trend toward whole grains, plant proteins and omega-3s more than millennials. Often manufacturers market those health benefits toward a younger health-centric crowd. But companies may not realize that they could have a more loyal audience in an older demographic, not to mention a generation with considerable buying power.

The viewpoint on sweeteners is a sticking point for manufacturers as they contend with new dietary guidelines that recommend limiting sugar consumption and a new Nutrition Facts panel that will require them to label added sugars in their products. Low-calorie sweeteners have taken a hit from health-conscious consumers, including millennials, who say they’d rather pay more for better-for-you sweeteners, more than any other generation, according to a Sweetener360 report.

Recommended Reading

International Food Information Council Foundation:
Boomers Set Their Own Food Standards: Survey Shows How Generations Differ in What They Look For in Food


Top Image Credit:

Dollar Photo Club

Turning To Baby Boomers To Save The Next Generation From … – Huffington Post

Today, more than 46 million people worldwide live with dementia, and Alzheimer’s Disease International estimates that number will increase to more than 130 million people by 2050. Now imagine within the next 10 years that we’re able to alter the trajectory of Alzheimer’s disease and find a treatment that could stave off symptoms before we lose another generation. We would avoid the pain and suffering of the hundreds of millions of people impacted by Alzheimer’s and the economic cost of the disease, which is estimated to be nearly $1 trillion dollars — the value of Apple and Google, combined.

This is exactly what we aim to do with the Alzheimer’s Prevention Initiative (API) Generation Study, which launched this month.

After decades in medicine, I have seen first-hand the devastating impact that Alzheimer’s disease can have on patients and family members. I have witnessed patients lose their identities and their ability to function as the disease takes hold. Families are often at a loss, struggling to understand and adapt to the confusing changes that happen to their loved ones. It is a heartbreaking journey.

Unfortunately, these stories are only becoming more prevalent. The World Health Organization sees Alzheimer’s disease as a public health priority. Simply put, the disease will overwhelm us unless we do something to end it.

The Generation Study is testing whether either or both of two investigational compounds — an active immunotherapy and an oral medication — compared to placebo might prevent or delay the emergence of Alzheimer’s symptoms in people who are at particularly high risk for developing the disease at older ages because of a relatively uncommon genetic profile they inherited from both parents.

Our study will enroll individuals in the Baby Boomer generation, specifically those people who are 60 to 75 years of age and currently show no signs of cognitive impairment — and who also inherited two copies of the e4 type of the apolipoprotein E (APOE) gene, the major genetic risk factor for developing Alzheimer’s disease at older ages. Only about 2 percent of the world’s population carries two copies of the APOE4 gene.

The Generation Study is unique in being the first trial to require participants to learn whether they carry none, one or two copies of the APOE4 gene. Learning one’s genetic status can be emotionally wrenching, so we will provide genetic counseling to those willing to participate. Individuals will speak with a healthcare provider, such as a genetic counselor, to discuss their APOE results and address their questions and concerns.

The Generation Study is among several API efforts intended to find faster ways to test promising new treatments by focusing on people at high risk for developing Alzheimer’s because of their age and genetic status. Thanks to the altruism of our volunteer participants, we are able to avoid the costs and time associated with testing investigational drugs in much larger population samples, which would inevitably include people who are at minimal risk of developing Alzheimer’s and whose results would provide little insight on a potential treatment.

If we find that either or both of these investigational compounds are successful in preventing or delaying the development of Alzheimer’s symptoms in high-risk individuals, this would be a huge win for all of us. And it would also open the door to other studies with even greater reach.

Almost 25 percent of the world’s population carries one copy of the APOE4 gene, and they account for almost two-thirds of all persons with Alzheimer’s disease. Can success in the Generation Study lead to success in other people at risk? That’s a very exciting question.

Even if this research only results in our ability to delay the onset of Alzheimer’s disease by five years, the impact could be enormous. Some estimates indicate that even a short delay could reduce the number of Alzheimer’s cases by 50 percent. That’s quite a legacy for Baby Boomers to leave future generations.

If you’d like to learn more about participating in the Generation Study, visit GeneMatch (www.endALZnow.org/GeneMatch), a tool that we’re using to recruit potential study participants.

Dr. Pierre Tariot is the co-principal investigator for the Generation Study. He is the director of the Banner Alzheimer’s Institute and a board-certified physician in internal medicine and geriatric psychiatry. After intensive training in developing new treatments for Alzheimer’s disease at the National Institutes of Health, he spent 20 years as a professor at the University of Rochester Medical Center in New York, where he directed a program dedicated to the care and study of people with Alzheimer’s. He has devoted his career to helping patients and families cope with the effects of dementia and is a recognized leader in the development of new Alzheimer’s treatments. He has published hundreds of scientific articles, is a widely sought-after speaker and consultant, and has won numerous awards for his service and research.

Are Baby Boomers really so selfish?: Letters – The San Gabriel Valley Tribune



Boom go the Boomers

I read with interest Joel Kotkin’s column on the Baby Boomers Sept 4. His statement that Boomers are “determined to pull ever more out of the economy as they age” is laughable.

We have worked long and hard, contributed to Social Security — not an “entitlement” — and have seen many bond issues passed without much improvement in our schools. Throw on top of that programs like Common Core, and it is no wonder some people do not want to vote for more taxes for our schools.

We have underfunded pensions we are paying for, the highest poverty rate in the nation, and yet it is the taxpayers’ fault that we have a failing school system.

I sent my children to private school and wanted them to attend a class in the summer at one of the public schools here in Whittier. I was told they could not attend as they did not attend the public school during the year. I paid my taxes for the public school, but could not use it when needed. Another reason I will not vote for more taxes.

— Bill Gile, Whittier

Not watching the Dodgers

Let us all get down on our knees and thank the almighty men and women who run Time Warner Cable for negotiating a deal with KTLA to allow we folk down in the “hollers,” like Chavez Ravine, to watch the last five Dodger games.

TWC, through pure greed and lack of respect to Dodger fans, has stolen two years of Dodger fans’ lives. I’ll mention Vin Scully’s name only in passing, it being his last season of broadcasting. The geniuses at TWC weren’t even glimmers in the eyes of their future parents when Mr. Scully first picked up a microphone back in Brooklyn accompanied by Red Barber.

Time Warner Cable has robbed me, and I shall never forget nor forgive their barbaric treatment of Dodger fans. They should truly be ashamed of their behavior.

— Michael Ryan Baxter, Whittier

Why do Americans tip?

After reading the letter in Annie’s Mailbox column, “Embarrassed when friend never leaves a tip,” from Mortified, I was thinking about how tipping got started and how it got out of hand. I’m 75 and can recall when tipping was just a way of saying thank you from the customer to the waiter. But tipping has become as part of the bill. so this guy was embarrassed by his lady friend not leaving a tip.

Then, Annie goes on to say tips aren’t optional and 20 percent is generally a fair tip for servers across the board. She also says if the girlfriend wants to save money, she can dine cheaply at home. Across what board and who made that so-called rule?

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Annie, you’re way out of line! I strongly agree that it’s hard work! That’s between the workers and management. I also feel for the people that have to depend on tips to make ends meet. But who caused this and when did all this come in to play?

Why is it that those that put their lives on the line every time they put on their uniforms to fight crime or fight fires and try to keep the general public safe are not allowed to receive any type of what you call a “gratuity”? In that line of work, a thank you has always been good enough. I know it well.

— Lou Reade, Rosemead

A castle in Glendora

How could you print a front-page article featuring Southern California castles (Sept. 4) and fail to include the Glendora Rubel Castle in your own back yard? It is a National Historic Monument.

— Fred Miller, Glendora

Baby Boomers Providing a Backbone to Business – Yahoo Finance – Yahoo Finance


LOS ANGELES–(BUSINESS WIRE)–

Baby Boomers (born 1946 – 1964) are still some the most motivated and
driven members of the workforce, according to a newly released survey by
the Futurestep division of Korn Ferry (KFY), the preeminent global
people and organizational advisory firm. It also revealed that they will
be working for far longer following the global recession; businesses
should expect to have them in the workplace for at least five years
longer.

In a survey of global executives that looked at the role of Baby
Boomers, 55 percent stated that they are willing to work longer hours
than other generations, and were considered the second most productive
generation after Gen X. Nearly a third (31 percent) felt they needed
less feedback than millennials or Gen X employees, demonstrating how
Boomers are also seen as reliable, in addition to hardworking.

“It’s clear from the results that the Baby Boomer generation still forms
an integral part of the backbone of businesses today,” said Jeanne
MacDonald, Futurestep President of Global Talent Acquisition Solutions.
“There has been so much talk about millennials in the workplace and
their impact that many organizations forget that Baby Boomers are still
a vital part of the workforce. Our survey has revealed that they are
dedicated, hardworking and reliable, while still having a desire to
drive progress.”

When asked more broadly about Baby Boomers in the workplace, more than
half (54 percent) said that offering them the “opportunity to make an
impact on the business” was the best way to retain Boomer talent. This
far outstrips the ambition of other generations; with just over a
quarter (28 percent) of executives surveyed indicating that making an
impact at work was the key motivator for millennials, highlighting just
how integral Baby Boomers are to businesses today. The survey also
revealed that employers are eager to take advantage of the experience
Baby Boomers have, with 50 percent considering ‘experience and
expertise’ as the main reason for bringing them into a business.

“Our survey has shown that Boomers are every bit as ambitious and
passionate as other generations,” continued MacDonald. “Couple this
drive with extensive experience and you are presented with a force to be
reckoned with in the workplace. With this in mind, employers need to
ensure that they attract and retain the best talent across all generations
in order to drive business success and futureproof their organization.”

The survey also reveals that the Great Recession has had an impact on
the retirement plans of Baby Boomers. Eighty-one percent of executives
surveyed now believe that Boomers will retire at least five years later
than they had planned prior to the recession, with 31 percent saying
they will retire 10 years later or more. In addition, 43 percent of
respondents say Baby Boomers in their organization will retire at age 66
or older.

“While many in the Baby Boomer generation are working longer to provide
more financial security after seeing their retirement account balances
tumble during the Great Recession, their desire to extend their careers
is not entirely financially motivated,” said McDonald. “What is often
overlooked is the fact the majority of the people in this generation are
highly motivated, enjoy what they do and they provide great experience
and value within the global workforce.”

About the survey

Korn Ferry Futurestep Survey: Baby Boomers in the Workplace
Note:
The online survey of executives was fielded from July 22 – August 10,
2016, and had more than 1,300 responses. Due to rounding, not all
percentages add up to 100 percent.

What matters most to your Baby Boomer (born 1946 – 1964) employees?

Job stability   41 percent
Income 11 percent
Ability to make a difference in the organization 24 percent
Work/life balance 14 percent
Visibility and buy-in into the mission/vision of the organization 10 percent

Compared to other generations, how willing are Baby Boomers (born
1946 – 1946) to work longer hours/weekends?

Much more willing   55 percent
Somewhat more willing 20 percent
Equally willing 12 percent
Somewhat less willing 7 percent
Much less willing 5 percent

What makes a Baby Boomer (born 1946 – 1964) choose one job over
another?

Location/ability to stay near family   29 percent
Visibility and buy-in into the mission/vision of the organization 19 percent
Clear path for advancement 14 percent
Title and pay 16 percent
Management and responsibilities 22 percent

Compared to other generations, how much feedback do Baby Boomers
(born 1946 – 1964) need?

A lot more feedback   13 percent
Somewhat more feedback 21 percent
About the same feedback 19 percent
Somewhat less feedback 31 percent
A lot less feedback 16 percent

What is the best way to retain Baby Boomer (born 1946 – 1964) talent
in an organization?

Regular pay rises/promotions   6 percent
Creating a culture that aligns with their values 22 percent
Providing them with an opportunity to make an impact 54 percent
Ensuring work/life balance 8 percent
Management responsibilities 10 percent

What is your main reason for hiring Baby Boomer (born 1946 – 1964)
talent?

Their past experiences and expertise   50 percent
Their work ethic 17 percent
The impact they have upon workplace culture 9 percent
Their ability to help cultivate and manage younger workers 24 percent

Do you find Baby Boomers (born 1946 – 1964) accepting of younger
generations joining your organization?

Very accepting   54 percent
Somewhat accepting 35 percent
Somewhat unaccepting 11 percent
Very unaccepting 0 percent

On average, what generation do you believe is the most productive in
the workforce?

Baby Boomers (born 1946 – 1964)   28 percent
Gen X (born 1965 – 1980) 62 percent
Millennial (born 1981 – 1995) 10 percent
Gen Z (born after 1996) 1 percent

Do you feel Baby Boomers (born 1946 – 1964) will have the relevant
tech/digital skills needed in the next five years?

Yes, our Baby Boomer employees stay up-to-date on the latest
tech/digital skills
  29 percent
They have some of the tech skills needed 46 percent

We rely on younger generations to fulfill technology demands

22 percent

At what age do think the average Baby Boomer will retire from your
company??

Ages 55 – 60   22 percent
Ages 61 – 65 33 percent
Ages 66 and older 43 percent

What impact did the recession have on the retirement age of Baby
Boomers (born 1946 – 1964)?

They will leave up to 5 years earlier   8 percent
They will leave at about the same age 12 percent
They will leave up to 5 years later 50 percent
They will leave up to 10 years later 31 percent

About Korn Ferry

Korn Ferry is the preeminent global people and organizational advisory
firm. We help leaders, organizations, and societies succeed by releasing
the full power and potential of people. Our nearly 7,000 colleagues
deliver services through our Executive Search, Hay Group and Futurestep
divisions. More information on Futurestep can be found at www.kornferry.com/futurestep.

Jim Stovall: Many baby boomers are struggling in retirement – Tulsa World

Jim Stovall: Many baby boomers are struggling in retirement – Tulsa World: Tulsa Business & Legal News

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Are baby boomers turning out to be the worst generation? – OCRegister

I have seen the best minds of my generation, to steal a phrase from the late Allen Ginsberg, driven to heights of self-absorption, advocating policies that assure the failure of the next. Nothing so suggests the failure of my generation — the boomers — than its two representatives running for president.

What Hillary Clinton and Donald Trump reflect are two sides of the same nasty boomer coin.

On one side, there are aging boomers embracing Trump, an icon of materialistic obsession and a lack of concern for “losers.” On the other is a control-freak determination to tell everyone how to live, with instructions coming from entitled boomer politicians and bureaucrats.

Boomers benefited from the strongest economy in American history — they account for 44 percent of the population but 70 percent of the wealth, and have enjoyed far better income growth than later generations. Yet, despite their good fortune, many seem determined to pull ever more out of the economy as they age, while those stuck with the bills for their profligacy and indebtedness — the next generation — will have to do with less.

The ‘I’ve got mine’ crowd

Trumpian boomerism is easily evidenced in my own neighborhood of Villa Park in Orange County. Our lovely, well-maintained and aging little enclave is friendly, civic-minded and civil. But it also is the center of opposition to such things as school bonds that would improve local schools now in a shocking state of disrepair. Villa Park residents helped defeat the last school bond, and it’s a former (thank heaven) City Council member who seeks to lead the effort to overturn the one on the ballot this year.

The arguments of the anti-bond advocates, like those backing Trump, base their pitch on accusations of public incompetence but rest on a culture of selfishness. Many opposing the bonds, which would cost them a few hundred dollars a year on their property tax bill, think nothing of spending lavishly on luxury vacations or home upgrades. The fact that better schools might increase their own property values seems to sail against their mind-set, which apparently renders them oblivious to the penury imposed on the next generation.

This phenomenon can be seen in many communities across the country, notably, in boomer retirement havens like Missoula, Mont. Some of it seems plainly racial: The majority of children in our local schools, which my youngest daughter attends, are Latino and Asian. In other words, many don’t want to help “their” children, even though here in Southern California they are our future.

It takes a village to destroy a generation

Then let’s look at Hillary Clinton’s progressive boomerism. Clinton has long talked about her concern for children. Who could forget her immortal “It takes a village” slogan? But the policies she advocates, particularly on energy, urban planning and economics, will prolong the slow growth that makes upward mobility problematic for future generations.

Even worse are the influential green progressives, increasingly dominant in Democratic politics, especially here in California. Led by our illustrious and aged governor, our environmental zealots advocate reducing the living standards of the next generation, but many are from the older generation of property owners who reap the benefits of an increasingly scarce, and valuable, asset like houses.

Lately, green activists have taken their generational attitudes a step further. In a recent National Public Radio program, leading lights of the climate change establishment suggested that perhaps we shouldn’t be creating a new generation at all. The best way to keep the planet safe from rapid toasting, they suggest, is getting people in high-income countries — where birth rates are already low — to stop having babies. It’s OK for those who nobly live in poverty in the developing countries to keep having kids, just as long as they stay poor.

A look at our legacy

Someday, boomers will lose power, but right now they make up almost a third of the American voting-age population and hold nearly two-thirds of the seats in Congress.

Millennials, the next big generation, in the long run may prove better than their parents. But they are not well served by the insufferably smug, self-appointed spokespeople (many from the same upper classes that dominate the greens) who brag about how they purposely eschew cars and big homes in favor of riding bikes and living in group homes. I doubt they speak for the vast majority who dream of buying a house, usually in the suburbs.

There are also some promising aspects to millennial attitudes, notably, their rejection of the racialism associated with Trump. Less noted is that they also seem to reject the top-down progressive boomerism epitomized by Clinton. Millennials may largely be liberal on issues such as immigration and gay marriage, but one recent survey found that less than a third of them favor federal solutions over locally based ones.

The fact that millennials both reject Trump and voted heavily against Clinton in the primaries reflects their nascent rejection of boomer politics. Hopefully, their changes will come soon enough to allow the republic, and its institutions — including our local schools — to survive the current boomer plague.

Joel Kotkin is the R.C. Hobbs Presidential Fellow in Urban Futures at Chapman University in Orange and executive director of the Houston-based Center for Opportunity Urbanism (www.opportunityurbanism.org).

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Baby Boomers spur growth of orthopedic centers – BizWest Media

If you’re wondering why it seems that orthopedic centers in the Boulder Valley and Northern Colorado are growing by leaps and bounds, you need look no further than to aging Baby Boomers, 10,000 of whom turn 65 every day, according to Pew Research.

Boomers signing on with Medicare, however, and looking for relief from bad knees or hips, are just part of the story. The rest has to do with a growing population — both young and old — drawn to the active lifestyle that Colorado affords them, said Mike Bergerson, CEO of Orthopaedic & Spine Center of the Rockies.

“In Northern Colorado, and Colorado in general, there is a lot of population growth compared to other states. Colorado is very active in everything from biking to club sports to running and hiking,” he added.

And where there are sports, there are injuries. Timothy Pater, president of Front Range Orthopedics and Spine Center, with locations in Longmont, Lafayette and Frederick, said via email, “Everybody knows that Colorado is a very active and fit population, and most individuals are at some point going to require our services. We know that our patients expect excellence from us and we do everything we can to exceed those expectations.”

Front Range Orthopedics is building a 32,000-square-foot building in Longmont, one of many orthopedic-center expansions in the Boulder Valley and Northern Colorado.

Front Range Orthopedics is building a 32,000-square-foot building in Longmont, one of many orthopedic-center expansions in the Boulder Valley and Northern Colorado.

And that includes expanding and building. “Our new building project (a 32,000-square-foot- building in southern Longmont) is what we see as a natural next step. We have steadily outgrown our space as we have expanded our services and size. We added a second office location 11 years ago and a third office location three years ago based on area growth and the demands of our patients.” The new building is expected to be ready for move-in sometime in early 2017.

“In our current space, we offer all of the services we will provide at the new building, but it will be a footprint that greatly improves the patient experience. We try to offer a vertically integrated full-service orthopedic experience so that when you walk through the door we can offer you everything you need under one roof.”

FRO has 10 doctors and seven physician assistants.

Mike BergersonBergerson noted that when he came onboard with Orthopaedic & Spine Center of the Rockies in 2006, there were 12 physicians. A short 10 years later, the group has 29 physicians, all of whom are subspecialized.

Hip scopes — a relatively new procedure now favored by many 40- and 50-year-olds before signing on for a hip replacement  — is one of 13 subspecialties provided at the practice. Such specialties, Bergerson added, have helped spur growth in the practice as well.

“When physicians focus on a particular body part, it allows them to keep up on the latest/greatest and cutting-edge technology, and many are involved in research. Instead of 50 hip replacements a year, our physicians do 400 to 500 a year. This makes them very proficient. They understand the procedure and the intricacies of what could go wrong during surgery or post op,” Bergerson said.

Expanding the Loveland medical building is priority No. 1 for OCR, with groundbreaking expected mid-November. The two-story, 60,000 square-foot addition to the current building at 3470 E. 15th St. will include a surgery center and overnight facility with 20 beds.

“It will be a replica of what we have in Fort Collins,” Bergerson said. Additional expansion for the Fort Collins clinic — which added 10,000 square feet in 2012 — is back on the drawing board but with no immediate timeline. “We have flood-plain issues where the clinic is located, but we do have the ability to build up,” he said.

Orthopaedic & Spine Center of the Rockies has expanded into this building in Greeley, directly across from North Colorado Medical Center. It is one of several expansions for OCR in Northern Colorado.

Orthopaedic & Spine Center of the Rockies has expanded into this building in Greeley, directly across from North Colorado Medical Center. It is one of several expansions for OCR in Northern Colorado.

And just this year, OSCR opened a clinic in the Greeley Medical Building on 16th Street. “We hired three new doctors to help with that expansion,” Bergerson said. The clinic does not include a surgery center at this time. Bergerson said that with the growth the Greeley site has experienced since its May opening, a stand-alone building is not out of the question in the years ahead.

BoulderCentre for Orthopedics — an expanded practice resulting from a merger between Boulder Orthopedics and Mapleton Hill Orthopedics — now operates from the second floor at its new location on Pearl Parkway. The 22,000-square-foot space has allowed for twice the exam rooms, in addition to more elbow room all the way around. The medical group has 13 physicians and seven physician assistants, along with six physical therapists and one occupational therapist.

CEO Cathy Higgins said, “We live in a very athletic community and see the full gamut of injuries from pediatrics to geriatrics. When  you’re an extreme athlete, you have extreme accidents.”

Higgins said future expansion is definitely an option in the next five to 10 years and most likely will result from internal growth and collaborating with other surgical specialties. BoulderCentre shares a first-floor surgical suite and MRI with Boulder Surgery Center.

Although Boulder Bone and Joint hasn’t added space, it has added orthopedic urgent-care services staffed by a physician assistant with an orthopedic surgeon on call as a way to combat hefty fees charged by popup emergency rooms and urgent care centers, said Jeff Buck, clinic manager. BBJ charges general office rates to patients who come in after hours with a litany of issues ranging from sprained ankles to broken bones. Urgent-care services are provided from 3 to 9 p.m. Wednesday-Friday and from noon to 9 p.m., Saturday and Sunday.

“We’re steadily getting busier,” Buck said. “If this is successful, we plan to open more of these in Louisville and Broomfield.” He also noted that United Healthcare and Blue Cross “absolutely love” the orthopedics urgent-care concept and have “given us their blessing to push forward. They see the benefit as well.”

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Baby Boomers Have Wobbly Expectations for Home Equity in … – Reverse Mortgage Daily

For many U.S. Baby Boomers, home equity isn’t their top source for funding retirement compared to other strategies at their disposal. This lack of intended use, however, doesn’t necessarily mean these older adults are averse to tapping into their home equity to meet retirement spending needs.

Boomers’ likelihood of utilizing home equity to support themselves in retirement depends on a variety of factors, such as their need for additional cash flow, the urgency of needed funds, as well as their attitudes toward borrowing against home equity, as recent studies and surveys of this older population have indicated.

U.S. retirees have traditionally adhered to the oft-cited “three-legged stool” strategy for retirement planning: personal savings, Social Security and employer-sponsored retirement benefits.

Self-funded savings, including retirement accounts such as 401(k)s, IRAs and 403(b)s, are the most frequently cited source of retirement income expected by workers of all generations, according to the 17th Annual Transamerica Retirement Survey.

Divided by age, older workers tend to rely more heavily on other forms of funding, such as home equity and Social Security, than their younger counterparts.

Among workers of all ages, 70% said they expect to rely on Social Security as a source of retirement income. This share is much larger for Boomer workers, 87% of which expect Social Security to be a critical funding source for retirement.

Meanwhile, home equity was less often cited, accounting for just 14% of all workers and 16% of Boomers who, along with seniors born before 1946, comprised the majority of Transamerica survey respondents at 1,576 individuals.

Rather than turn to home equity as a possible funding source, Boomers are more likely to continue working past age 65 in efforts to increase their income and bolster their wobbly retirement stools. The share of Boomers expecting to work longer equaled that among all workers at 38%, compared to 36% of Generation Xers and 40% of Millennials.

“Amid retirement savings shortfalls, American workers are attempting to prop up our system’s three-legged stool by adding a fourth leg: working during retirement,” said Catherine Collinson, president of the Transamerica Center for Retirement Studies.

“Baby Boomers are the generation that has re-written societal rules at every stage of their life,” Collinson added. “Now, Baby Boomer workers are redefining retirement by planning to work until an older age than previous generations.”

The Transamerica survey did not explicitly mention reverse mortgages as falling into the broader category of “home equity.” But if other recent studies and reports from this year can serve as any indicator, retirement age Boomers largely misunderstand reverse mortgages, or don’t understand their options for unlocking home equity.

Compared to younger homeowners, Boomers are more reluctant to borrow against their home equity, according to a survey commissioned this month by Discover Financial Services (NYSE: DFS), which revealed that older Millennials ages 30-34 are twice as likely as Boomers ages 55-64 to obtain a home equity loan. Of the 64% of Millennials who own a home, the survey found that 51% have used a home equity loan, compared to only 26% of Boomer homeowners.

“Homeowners who have built equity in their homes have the opportunity to leverage their financial asset to help them pay down debt, update their home or pay for major expenses,” said T.J. Freeborn, director of operations strategy for Discover Home Equity Loans, in a press release detailing the survey findings.

The survey, which polled 1,428 consumers, also highlighted the different purposes among Millennials and Boomers for how they use their homes.

Contrary to the expectations that older homeowners may be more inclined to leverage home equity as a financial tool, Millennials were more likely to use their home as a financial asset, either by selling it to make money, or as a quarter of Millennials indicated, using their home as an investment property.

As for the main uses of home equity loans, home remodels and debt consolidation were the top objectives cited among homeowners of all ages. Additionally, older Millennials were much more likely than Boomers to use home equity loans for emergency cash, 42% vs. 14%, respectively.

Footing the bill for home improvements and paying off debts are also some of the most commonly cited uses influencing reverse mortgage take-up, though awareness of the Home Equity Conversion Mortgage product is minute relative to its potential.

These various surveys, studies and reports underscore the attitudes of older homeowners concerning home equity and the value they place on this asset for their retirement plans. While the majority of Boomers don’t expect to rely on home equity to carry the brunt of their retirement, the response shows that home equity is at least something worth considering.

Written by Jason Oliva

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Is Trump v. Clinton the Baby Boomers' Last Hurrah? – The Fiscal Times

It has been a political rule of thumb for decades that Baby Boomers and other older Americans rule the roost when it comes to presidential politics.

As the dominant share of the electorate, which faithfully turned out at the polls every four years, Boomers and the older “Silent Generation” enjoyed royal treatment from presidential candidates who were highly sensitive to their concerns about taxes, the size of government and the future of Social Security and other costly entitlement programs. Boomers and older Americans constituted 56 percent of the presidential vote in 2012, compared to 44 percent for the younger Millennials and Generation-Xers.

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But a new study by the Pew Research Center suggests that the Baby Boomers’ reign is coming to an end, and that the November election pitting Democrat Hillary Clinton against Republican Donald Trump likely will be the last time that Boomers and older voters dominate the political landscape.

The analysis by Richard Fry, a senior researcher on economics, documents the swelling ranks of Millennial and Generation X eligible voters, spanning in age from as young as 18 to as old as 50. This fast-growing cohort has gradually eclipsed the large group of older Americans who have begun to die off or are fading as a dominant political force.

Fry notes that the younger generations matched Baby Boomers and older Americans as a percentage of eligible voters in 2012 and are not likely to be outgunned in the November 8 presidential election.

“Historical patterns of voter turnout by generation also suggest the likely end of dominance by boomers and prior generations,” he wrote. “In general, as a generation ages, turnout rises, hits a peak, and then declines.”

Related: 78M Millennials Could Carry the 2016 Election. Here’s Why

The numbers are fairly convincing: As of July, roughly 126 million Millennials and Gen Xers were eligible to vote, making them 56 percent of all eligible voters, according to Fry’s analysis. That contrasts with just 98 million Boomers and other older Americans – or 44 percent of the population eligible to vote.

Voter Demographics

Although Fry cautions that a lot will depend on who actually turns out to vote on Election Day – and traditionally older voters tend to be more likely to turn out than younger voters – Millennials and Gen Xers will almost certainly put an end to the Baby Boomers’ dominance in the electorate.

Even if as many as 70 percent of Baby Boomers and older eligible voters turn out at the polls in November, Millennial and Gen Xers could still match them, even if they turned out at substantially lower rates. For instance, a 70 percent turnout among older voters would equal about 68 million votes. Yet Millennials and Gen Xers could match that number with a turnout rate of just 54.5 percent.

“In other words, the dominance [of Boomers] will be broken, but it’s premised on a big if” of precisely what percentage of older and younger voters actually turn out,” Fry said in an interview on Tuesday.

He added that older voters still might be more of a force in future off-year elections, when there is far less excitement about congressional and state campaigns. “But at least as far as presidential elections, it’s looking like the Boomers’ and older voters’ long reign may end this November,” he said.

Related: How the Democratic and GOP Platforms Clash Over Social Security Reform

The evolving generational shift in political clout in presidential campaigns could have important implications for future presidential races and policy-making in Washington.

Younger and older voters perceive the world and political parties differently, researchers say, with Silent Generation voters more conservative and inclined to support Republicans, while Millennials are more liberal in their views and inclined towards the Democrats.

Jocelyn Kiley, the associate director of research at the Pew center, said in an interview that this generational divide is fairly pronounced on a number of important public policy issues, including the size and role of the government, the future of Social Security, attitudes about same-sex marriage and other social issues.

“In the current political landscape, certainly there are difference in the political attitudes of younger generations and older generations,” she said. “That hasn’t always been the case, but we’ve seen for the last several years, for instance, a pretty large difference between the Silent Generation political preferences and the Millennial generations.”

Related: Social Security Trustees Project Trust Fund Will Be Tapped Out by 2034

Research has found, for example, that Millennials and other younger voters are more in favor of big government and expanded government services than older voters, and they tend to be far more optimistic about the economy and the future than older voters. About six in ten Millennials are opposed to cutting benefits in Social Security to address the system’s financial problems, according to a 2014 Pew survey, which was pretty much in line with the 70 percent of older Americans who opposed benefit cuts.

However, fully half of the Millennials interviewed said they didn’t believe there will be any money in the Social Security trust fund for them when they finally retire. Until now, advocacy groups for seniors and other liberal organization have staunchly opposed major reforms of Social Security, and instead have pressed for expanded benefits. As Millennials and Gen Xers grow in political importance, they may provide impetus for future presidents and members of Congress to consider entitlement reform to protect future beneficiaries.

And there is a much bigger generational gap on the question whether government in the future should give higher priority to programs that benefit younger Americans – including education, college debt retirement, job training and health care – than for older Americans. Fifty-three percent of Millennials surveyed by Pew in 2014 said the focus should be on younger people, compared to just 28 percent of the Boomers and older Americans who agreed with that premise.

“There’s an open question about to what degree these political attitudes persist as people get older,” Kiley said “But certainly right now we see that younger generations – both Gen-Xers and in particular Millennials – have more liberal views on a lot of issues.” 

Millennials are more vulnerable to scams than baby boomers according to a BBB report – Alabama's News Leader

With school starting for college students, parents may be wondering: “is my child ready for the world?”

According to the Better Business Bureau, when it comes to scams, they may not be.

The report shows that scammers are going after students, looking to capitalize on loan payments.

“They’ll call you and demand money, saying you owe taxes, but in this case, their going after students,” Eric Gossett with the BBB said.

They are targeting freshman, demanding they pay up for student loans.

“They are already stressed out, school is starting, then you get this phone call from someone you don’t know, saying they are from the government and they’re going to take away your student loans, so most students reaction is to pay the money,” Gossett said.

He says the name that shows up on your caller ID may look like it’s from the government, but he says the federal government will never call you asking for payment over the phone.

Another red flag.

“Most of these IRS scams when they ask you to pay money, they’ll ask you to wire it to them, cause it’s the easiest way to get money,” Gossett said.

Some young people often think they’ll see a scam from a mile away.

But it turns out, millennials are more vulnerable to scams than baby boomers according to a BBB report.

“They’ve grown up thinking that they have all of this knowledge regarding these scams, but in reality scammers are just finding new ways to get to them so red flags aren’t raised when they should be,” Gossett said.

If you would like to view the report CLICK HERE.