Baby Boomers are often portrayed as wealthy, self-centered old people when in reality they are active health oriented people who need advice and guidance to help them reach and enjoy the good life.
One of the biggest beliefs about Boomers is they are all the same. The truth is they are all individuals even though they fall within the birth years of 1946 and 1964. For example in today's economic meltdown someone that is 48 is focused on different things than say someone that turned 65 this year. Boomers have different health concerns, different economic issues, different family situations if for no other reason than at what season they are in their life.
Boomers have been characterized as being self centered, only focused on whats in it for them. In fact as numerous Boomers have seasoned through the years they have become more focused on what they can give back. One primary focus of Boomers is making the world a better place, it comes into play in their decisions as to how to give back as well as their decisions to buy. If a company gives back to their community then Baby Boomers are more likely to buy from that company
Baby Boomers are considered inactive as they get older, however most of them are quite active. They participate in multiple events regularly instead of laying around the house in the easy chair. They jog and run, ride bikes as well as lift weights for exercise.They attend sporting events at both local and distant venues. They are traveling regularly and are not taking trips that require them to get on a bus and tour. Baby Boomers are choosing action oriented adventure travel going to places all over the world.
Baby Boomers are considered wealthy when in reality the opposite is true. According to a national retirement association only 9 percent are affluent which is defined as earning $ 150,000 if they are still working and $ 100,000 or more if retired. In fact, one quarter of the Boomers have no savings or investments at all.
Baby Boomers are often portrayed as married with no children left at home. The case is actually one quarterfall into this category. One third of them are single, either divorced or never married. Todays economy has created a bunch of boomerangs, which are kids moving back in with their parents and over thirty percent of Baby Boomers have children under 18 still living at home.
Another common belief is most are selling their larger home and buying the smaller easy to care for home or condo. Less than 10 percent are planning on downsizing within the next 5 years according to a retirement association. Actually over seventy six percent of Baby Boomers plan to live in the same size house or larger in the future.
One belief is Boomers are retiring early, when unfortunately in today's economy many are planning to work well past 65. Some have seen their retirement accounts cut by two thirds and believe they need to work and save to build up a cash base that is going to take years for them to recover. However a select few Baby Boomers have learned and implemented other methods and strategies are planning to retire within months.