Home Blog Page 3

Baby Boomers Are Seeking "Active" Retirement

0

Ok, so what is "Active" Retirement? This is not your mother's retirement. According to the US Census Bureau, "in 2006, the oldest of the baby boomers, the generation born between 1946 and 1964, will turn 60 years old." Today, this represents 28 percent of the American population from the Del Webb Survey.

The Baby Boomer Generation tend to retire earlier than 65 years of age and stay busy. Still full of energy, youthful, and creative we still have much life left in us. Yes we want to travel and set our own schedules and enjoy our time, but sedentary life is not the ticket.

Some Baby Boomers are leaving their jobs due to forced retirement in some form or another, early retirement, or because they are "just can not take it (job) anymore."

Many will start their own business and use that as a vehicle to build wealth, express their creativity, expand their minds and stay active. According to the survey, "40 percent of Boomers are not sure if they will have enough money to live comfortably." Therefore many will feel like they have to earn additional income and will choose to do it with a home based business as a solution to income and freedom.

Whatever the reason it's best to plan your retirement. You will not be traveling 24/7. You really can not sleep all day. Consider making some plans:

1. Write down what you want to do.
2. Set some time frames.
3. Develop a realistic budget (weekly, monthly).
4. Do your research. (Which I suspect you are doing now).

If you have not left your job yet, this is the best time to plan. Do not wait until you're retired. If you are already out of your job, it's never too late to plan. Do not get caught in waiting for the "perfect time." The perfect time is always now.

Sumter’s BD forms partnership with Ebenezer Middle School

0

One of Sumter’s top industrial employers connected with a middle school in two big ways recently with a hope to turn the page to community building.

Ken Lee, plant manager at BD, and two associates surprised a social studies teacher at Ebenezer Middle School with boxes of books for her classroom. The effort was part of an employee giving campaign that raised money for the Sumter Education Foundation’s 500 for 500K campaign, which is a goal to raise $500,000 to purchase sets of 500 books for each classroom library and other resources to support literacy in Sumter School District classrooms as required in the state’s Read to Succeed Act.

“We have a responsibility to educate this community,” Lee said.

The students of today will be the employees of tomorrow who replace Baby Boomers in plant jobs and elsewhere, he said.

The education foundation is the nonprofit philanthropic arm of the school district. Shirl Goodman, BD human resources site director and member of the foundation’s board of directors, said the group supports teachers by giving them one less thing they will end up paying for out of their pocket.


Lee and Ebenezer Principal Marlene Dewit also talked during the surprise book donation about their newly formed partnership through the district’s Adopt a School Initiative.

The Partners in Education program is a joint venture between the Greater Sumter Chamber of Commerce and Sumter’s public and private schools. Businesses and organizations are invited to provide support through financial contributions, in-kind donations, sponsorship of events and awards, attendance and academic initiatives, internships, volunteering and mentoring.

By adopting Ebenezer, BD employees will help promote the school and provide various means of support.

“They have a representative on our school improvement council and a representative on our STEM committee to help us work toward becoming nationally accredited with STEM,” Dewit said.

Other initiatives will include promoting teacher morale and teaching students and parents about potential jobs in the area and what a company looks for in a potential employee.

“Meeting with Ken has really given me a really great feeling because Ken is really trying to be a part of our school and wanting to come to our school and put the company out there,” she said. “Not advertise the company but put it out there so people can see they want to be a part of the community and help out the schools.”

Baby Boomers' national impact | IN 60 SECONDS

8



In recent years, an aging America — lead mostly by the Baby Boomers — has made life more difficult for the nation’s younger population and limited their chances at success. AEI’s Lyman Stone takes a look at the economic impact of the Boomers and how their actions are affecting future generations.

ARTICLE — Declining fertility in America

Subscribe to AEI’s YouTube Channel

Like us on Facebook

Follow us on Twitter

For more information

Photo credits:
Shutterstock
Twenty20

Music credit:
“Parsifal (Breathing)” by Devon Church

Third-party photos, graphics, and/or video clips in this video may have been cropped or reframed. Third-party photos, graphics, video clips, and/or music may have been edited in a way that does not alter the meaning of the third-party work(s). Music in this video may have been recut from its original arrangement and timing.

In the event this video uses Creative Commons assets: If not noted in the description, titles for Creative Commons assets used in this video can be found at the link provided after each asset.

The use of third-party photos, graphics, video clips, and/or music in this video does not constitute an endorsement from the artists and producers licensing those materials.

AEI operates independently of any political party and does not take institutional positions on any issues. AEI scholars, fellows, and their guests frequently take positions on policy and other issues. When they do, they speak for themselves and not for AEI or its trustees or other scholars or employees.

More information on AEI research integrity can be found here:

#aei #news #politics #government #education #boomer #millennial #zoning #housing #college #university

Latino leaders sound alarms over Trump reelection in 2020

0

Democratic presidential candidate Julian Castro

Julián Castro is the only Democratic presidential candidate to is take the time with local leaders, put permanent boots on the ground and make their events accessible to Spanish speakers, Latino organizers say. | Jeff Chiu/AP Photo

2020 Elections

Operatives and organizers warn that Democrats are doing little to mobilize a key constituency that the president is targeting aggressively.

Democratic presidential candidates are squandering a critical early opportunity to mobilize Latino voters ahead of 2020, potentially easing Donald Trump’s path to reelection, according to leading Latino political operatives in battleground states.

Interviews with more than a dozen strategists and organizers revealed rising alarm at the lack of attention being paid to Latinos in swing states where they could decide the outcome of both the Democratic primary and the general election. Trump is counting on a slice of Latinos to back him, announcing aggressive outreach plans to keep states like Florida in his column.

Story Continued Below

But if Democrats fail to counter those efforts with their own — by energizing younger Latinos and reaching members of the community who feel estranged by the president — those voters may simply sit out the election, the operatives told POLITICO.

Nevada, for example, is wide open for the taking. But despite the state’s envied third spot on the Democratic primary calendar, operatives on the ground say White House hopefuls are all but ignoring the voting bloc that could put them over the top.

“We’ve seen the typical fly-ins to come and take pictures with popular Dreamers and go to eat tacos or whatever,” said Leo Murrieta, Nevada director for Make the Road Action, which focuses on organizing immigrant and minority communities politically. “But the reality is that very few of the campaigns have had substantive conversations with any Latinx communities around issues like health care, education, criminal justice reform, and worker justice.”

The lack of outreach to Latinos — in contrast to the TLC being shown to key voting blocs in other early states like South Carolina— is striking given the number of Democrats looking for ways to break out in a crowded primary. POLITICO spoke to Latino operatives in Nevada, Florida, Texas, and Arizona, as well as ones at national organizations that work on mobilizing Latinos and other minorities.

It isn’t enough to hold rallies, organizers said: To turn out Latinos, candidates have to take their time with local leaders, put permanent boots on the ground, and make their events accessible to Spanish speakers. So far, none of the candidates have stood out except Julián Castro, who’s mired at around 1 percent in national polls.

Latinos are poised to be the largest non-white eligible voting bloc in 2020. They could be difference makers not only in Nevada but much larger swing states like Florida and even Pennsylvania, which is home to a growing Puerto Rican population.

Latino turnout jumped from 27 percent in the 2014 midterms to 40 percent in 2018 — increasing more than any other ethnic group, according to U.S. Census data. The Latino population is younger compared to other ethnic groups, and strategists often discount younger voters as unreliable. But organizers argue that Democrats who think that way are making a mistake: Voters between 18 and 53 cast more votes in 2018 than Baby Boomers and older generations, Pew Research figures show.

“If you’re going to approach communities of color the way the Democratic Party has approached communities of color in so many election cycles, then you’re going to lose,” said Natalia Salgado, senior political strategist with the Center for Popular Democracy, a progressive activist group. “Everyone talks about the sort of elusive Rust Belt voter, but what about the elusive Latino voter?”

The battle to mobilize the constituency is complicated. Activists frequently need to remind candidates that Latinos aren’t a monolith: there are undocumenteds and first-generation citizens, but also Latino families who’ve been in the U.S. as long as their white counterparts. Those differences compound based on whether the Latino communities are of Mexican, Puerto Rican, Cuban or Venezuelan descent.

Trump officials say their internal data shows the president has “dramatically increased his support among Latino voters compared to 2016,” especially in states like Nevada and New Mexico. Trump received 29 percent of the Latino vote in 2016. He narrowly lost Nevada but eked out a win in Florida, where roughly 1 in 6 voters in the state are Latino.

Most Democratic organizers agree on two things: Candidates need a robust immigration plan that counters Trump’s hard-line policies and nationalist rhetoric. And Democratic hopefuls, they say, need to aggressively communicate how their policies on issues such as education and health care tangibly help the Latino community. Relatedly, the operatives say candidates have to demonstrate an understanding of the different groups of Latinos, including those of African descent.

A number of 2020 candidates recently turned more of their attention to Latino voters during swings through California. A handful last week addressed the Coalition for Humane Immigrant Rights of Los Angeles Action Fund, including Kamala Harris, Bernie Sanders and Castro. And Beto O’Rourke delivered part of his speech at the state’s Democratic Party convention in Spanish.

But Latino organizers, who wield significant influence in states like Nevada and California, are waiting for more.

Latinos are set to make up around 28 percent of the voting electorate in Nevada and were pivotal in delivering the state for Democrats in 2016 and 2018. But when Nevada’s governor signed a bill establishing an office for new Americans, a big win for immigration activists, none of the White House hopefuls highlighted the move. Locals took notice.

Multiple strategists warned that Democrats are running out of time to set up an aggressive field operation in Nevada. By comparison, Hillary Clinton had a Nevada campaign office up and running by March 2015.

“I don’t understand what’s happening, but the Democrats are not getting Nevada right,” Murrieta said.

Fewer than half of the Democratic hopefuls have met with Astrid Silva, a political mainstay in Nevada who co-founded the organization Dream Big Nevada, which sets up meetings between candidates and undocumented communities.

“There’s a lot of work that needs to be done,” Silva said. “Not a lot of people understand what a caucus is.”

Advisers to several candidates insist they’re listening and that there’s still plenty of time.

Castro was the first Democratic hopeful to issue an immigration plan and has visited Nevada the most, but his inability to eclipse low-single-digits has troubled activists. Elizabeth Warren has placed nearly 30 staffers in Nevada and is working to hire Latino interns and to set up caucus trainings in Latino communities. Cory Booker is doing Latino outreach through social media as well as digital and TV, notably appearing on the Univision show Despierta America the day he announced.

Harris, whose campaign declined to say how many people she has in Nevada, has prioritized hiring Spanish-speaking organizing staff in the state and rolled out a paid fellowship program. She caught the attention of activists for providing headphones with real-time Spanish translation available at an early Nevada town hall. Pete Buttigieg has no staffers on the ground, but his constituency director is Latino, and the campaign plans to hire a person dedicated to Latino outreach.

Front-runner Joe Biden has just four people in Nevada and has visited the state once. His campaign website, however, does provide a full Spanish translation. Some of the Latino operatives said they’re eager to see whether he tailors his speeches more to the experiences of black and Latino populations, in addition to white working-class voters.

“What I have seen from Joe Biden is that he is running a campaign reminiscent of 1992 or 1993, the courting of the suburban white voter,” Salgado said.

Isabel Aldunate, a Biden campaign spokeswoman, said: “Vice President Biden committed from day one that Latinos will have a voice at the highest level of this campaign.”

Sanders’ campaign wouldn’t disclose how many organizers it has in Nevada, but an adviser said its field staff would grow exponentially in the coming weeks. His pending immigration plan is being co-written by three undocumented immigrants and the campaign is collaborating with activist organizations on it. Ten percent of Sanders’ staff at its national headquarters are Dreamers or immigrants, according to the campaign.

“It’s the backbone of this campaign to reach out to Latinos and immigrants and disenfranchised communities of all color,” said Chuck Rocha, a top adviser to Sanders.

But the lack of an immigration plan from all but three Democrats — Castro, O’Rourke and Washington Gov. Jay Inslee — is a troubling indicator, the Latino operatives said. Trump has made clear he intends to run on an anti-immigration platform again, and Democrats have yet to show they’ll have an effective response.

“[Republicans are] boldly proposing to send us backwards [on immigration], and the Democrats thus far, with the exception … of Castro, are turning in what I would consider a C-minus homework assignment,” said Marisa Franco, co-founder of the Latino grass-roots group Mijente.

Andrea Mercado, executive director of New Florida Majority, a liberal grass-roots organizing group, said Democrats could lose the swing state again if they fail to counter the administration’s “socialism” tag.

“Venezuela and Cuban sanctions are as much about winning Florida as they are about anything else,” Mercado said of the administration’s actions against the two countries.

“Right now is not the time for caution,” said Salgado. “If [Latinos] do not feel themselves reflected in either the policies or the rhetoric from any of these candidates, they could turn around and vote for Trump.”

Growing Number Of Baby Boomers Going Back To School | NBC Nightly News

7



Hundreds of retirees are taking classes at the University of Minnesota as part of its Senior Citizen Education Program — and all for just $10 per credit. “This is our opportunity to study those things we’ve spent a lifetime being curious about,” one student tells our Kevin Tibbles.» Subscribe to NBC News:
» Watch more NBC video:

NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and engaging news stories. NBC News Digital features NBCNews.com, MSNBC.com, TODAY.com, Nightly News, Meet the Press, Dateline, and the existing apps and digital extensions of these respective properties. We deliver the best in breaking news, live video coverage, original journalism and segments from your favorite NBC News Shows.

Connect with NBC News Online!
Visit NBCNews.Com:
Find NBC News on Facebook:
Follow NBC News on Twitter:
Follow NBC News on Instagram:

Growing Number Of Baby Boomers Going Back To School | NBC Nightly News

REINVENTING RETIREMENT: So what’s the big misunderstanding? | Business

0

Baby Boomers have experienced a great shift in the retirement landscape since their parents retired decades ago. From the demise of company pensions to the shift toward 401k plans to exponentially higher medical care costs, retirement ‘ain’t what it used to be.’ As a result, the need for Americans to educate themselves is great. There are a variety of retirement related concerns that could cost Baby Boomers greatly if they do not take the time to do so.

In my personal experience, there are many subjects that people are commonly misinformed about concerning retirement. By far, however, they are the most unsure about social security, how to begin and when. It’s not as straight forward as many people think.

You’re likely wondering, “So what’s the big misunderstanding?”

A recent poll by CNBC revealed that there are two areas that Americans most commonly get wrong about social security. The study polled 1,312 people who were 50 and older and here is what they learned:

1. Americans did not know their full retirement age.

Based on the people they polled, close to 70% of the individuals erroneously identified the age they’d be eligible for full social security benefits. Participants conveyed that they believed they’d reach full benefit age at 63. Of course, this is a big misunderstanding.

The Reality: The original Social Security Act of 1935 set the minimum age for receiving full retirement benefits to 65. Under current law, the full benefit age has been increased several times to account for American’s increasing life expectancy. That said, Baby Boomers who were born between 1943 and 1954 are not eligible for full retirement age benefits until their 66th birthday – and this number only incrementally increases from there. Baby Boomers turning 62 this year will not reach full retirement age until 66 and 6 months. Anyone born after 1960 will need to wait to age 67 to reach full retirement benefits.

Why Wait? Americans can begin claiming social security retirement benefits as early as 62. Over the years some people I’ve talked with have seen no reason to wait until full retirement age. Many fear if they wait social security will no longer be there for them. While I can relate to their concern, I always caution people that taking social security at 62 is basically agreeing to a 25-30% pay cut. That’s a big chunk of money to agree to leave on the table.

I’m rarely a fan of procrastination, but when it comes to social security it pays to delay. The biggest “winners” are those who put off claiming until age 70. They receive a 76% higher annual payout than those who start receiving benefits at 62. I understand that this might be highly unrealistic, but it’s worth noting.

With changes in the law, it’s understandable that Baby Boomers might not know their correct full retirement age and the significant advantage of waiting to claim this benefit. For me, the most concerning part of this study was the second big misunderstanding that polled participants expressed.

2. According to the study, participants falsely believed that if they took early social security their benefits would eventually increase to full retirement at their full retirement age.

An alarming 26% of the polled participants believed this to be true. This is an unfortunate misunderstanding and an indicator of how critical it is that Baby Boomers educate themselves about the facts.

The Reality: Once a retiree flips the switch to receive social security that is the benefit they are agreeing to for the rest of their life (besides small cost of living increases). Decisions made regarding social security are permanent. The only way to receive the full social security retirement benefit you’re entitled to is to wait until your full retirement age.

Some areas in life leave no margin for error. Social security is one of them. Failing to make the right decisions will cost you permanently. Sit down with someone who can help ensure that you make the right decision for you. Strategizing 5-10 years before you reach this part of your life could make a world a difference for your golden years.

Tom Kalejta is an author of “Building Wealth, Protecting Dreams” and a financial advisor. He is intrigued by how Baby Boomers are changing retirement trends and lifestyles in the 21st century. He believes in inspiring his readers by talking less about money and more about reinvented possibilities — particularly when things don’t go as planned. He can be reached by emailing [email protected].

Here’s how Millennials measure up to Baby Boomers when it comes to do-it-yourself home projects

0

A new survey discovered how Millennials stack up to Baby Boomers when it comes to home improvement and do-it-yourself projects, and the results are very telling.

The poll says that about half of Millennials prefer to call a professional rather than tackle an issue themselves.

Asked if they would tackle a list of emergency “dad challenges,” Millennials fell short of Baby Boomers in every single category.

Among Baby Boomers, 79 percent said they would change a car wheel at the side of the road, while only 63 percent of Millennials said they would.

85 percent of Baby Boomers would reset a tripped circuit breaker, while only 54 percent of Millennials said they would.

86 percent of Baby Boomers would jump start a dead car battery, while only 63 percent of Millennials would attempt the same.

Even with something as simple as opening a jar of pickles with their hands, only 59 percent of Millennials would attempt the feat of strength, while 81 percent of Baby Boomers would.

The study also found that many Millennials simply didn’t own common home tools. Nearly half, 46 percent, said that they didn’t own a cordless drill, 49 percent said they didn’t own a stepladder, and 32 percent said they didn’t even own a hammer.

However, the authors of the study said that part of the reason Millennials appeared less capable of fixing anything was that life is becoming more dependent on tech-based objects, which are tougher to fix.

The surprising study was conducted by OnePoll on behalf of Alarm.com, a home alarm company.

Here is a video of the results:


Millennials dads are way less handy than we thought

www.youtube.com

Hey Unicorn Hunters, It’s Not About Ideas. Three Key Insights To Find The Perfect Startup Storm.

0

Real entrepreneurs never set out to create a unicorn, they try and solve a big problem.

Getty

It’s always fascinating to see people in the startup space, both entrepreneurs and investors, talk about unicorns, those startups that quickly rise to a valuation of over $1 billion dollars. Now that’s not $1 billion in revenue but in “perceived” value. Chasing unicorns, whether you are an entrepreneur or an investor can end in disaster. Instead of looking to create startups who are solving real problems in big markets, sometimes investors artificially “fuel up” a startup based on wishful thinking more than common sense. Here are some spectacular unicorn failures:

  • Jawbone: Despite grabbing an astounding $930M in funding during its 17-year lifespan, Jawbone failed to hold on to significant market share for its line of headsets, fitness trackers, and wireless speakers. With its demise, Jawbone become the second-costliest VC-backed startup failure of all time (per CB Insights).
  • Theranos: This company is going out with barely a whisper. Once heralded as a revolutionary new way to conduct a blood test to detect myriads of diseases, all with a single finger prick. Only one problem, their technology did not work. The company has made preparations to close its operations.  Theranos raised $172 million but its efforts are now focused on avoiding bankruptcy and prison for its executives.
  • Quirky: This startup raised $185 million and relied heavily on retailers to sell its custom created products. Due to the mass reach of these retailers (such as Home Depot), the partnerships appeared to be a blessing, but margins were dramatically reduced and it ended up a disaster. Quirky was on 50,000 shelves in the country, and as a result the company had to produce a ton of inventory. This was a big upfront cost for products that had not entirely been proven. As a result, Quirky overspent on inventory and continued to raise capital as opposed to growing revenues. This vicious combination proved to be unsustainable.

So, how do you create a unicorn? Well, you don’t launch a startup with that expectation. You do launch a company with realistic expectations, one that is focused on solving a key problem in a large industry that also has a large target market. Be it Baby Boomers, Millennials or Gen Z, you aim at a large market. The wild card in a rapidly growing startup is identifying and leveraging a key trend. You should study trends carefully because if you find a trend that will sweep across both a large industry and a large market at the same time that might be the perfect storm. Great examples of this are Uber (disrupting the taxi industry), AirBnb (disrupting the hotel industry), and NetFlix (disrupting entertainment). More recent examples include Ring (disrupting home security) and Casper (disrupting the mattress industry).

Pay attention and learn about Gen Z.  

Getty

Startups are not about ideas. At its basic level, a startup needs to solve a big problem in a valuable niche market or a small but key problem in a big industry. As an entrepreneur or investor, look for three things that could help you in deciding which startup to create that could leverage all three subjects listed below:

  • Markets: You need to really study people in order to understand who you might target with your problem solving mantra. How much will Baby Boomers spend not to die? What keeps Millennials up at night as they angst about life? Who is this newest group Gen Z and what do you know about them? Those three market groups make up about 75% of the US population. Focus on one of these three groups and start looking for problems.
  • Industries: Start with large multi-billion dollar industries that are not innovating. On the surface, these industries give the impression that everything is fine. But they are not responding to market problems or trends. Mattresses look boring, so does yogurt and soap. But they are being disrupted. The yogurt aisle looked fine until Chobani disrupted it with Greek yogurt. The financial investing industry actually understands they are about to be disrupted but the major financial brands don’t know how to combat their legacy brand image with younger customers. Pick a large industry that you care about and study it manically.
  • Trends: Follow and track key trends that you care about. Set up Google alerts on each trend and learn about the trend. Will the trend affect a large market? Will it potentially change an industry? There are lots of trends changing several marketplaces and disrupting large industries. Whether its technology with AI, Iot, cloud, mobile or whether its natural and organic everything, trends ultimately create change as new companies step up and solve problems related to these trends.

You may or may not start or invest in a unicorn. Better than chasing a unicorn is to create or invest in a company that is aimed at disrupting a big market and industry and leveraging a key trend that will sweep both. That is the perfect storm.  

“>

Real entrepreneurs never set out to create a unicorn, they try and solve a big problem.

Getty

It’s always fascinating to see people in the startup space, both entrepreneurs and investors, talk about unicorns, those startups that quickly rise to a valuation of over $1 billion dollars. Now that’s not $1 billion in revenue but in “perceived” value. Chasing unicorns, whether you are an entrepreneur or an investor can end in disaster. Instead of looking to create startups who are solving real problems in big markets, sometimes investors artificially “fuel up” a startup based on wishful thinking more than common sense. Here are some spectacular unicorn failures:

  • Jawbone: Despite grabbing an astounding $930M in funding during its 17-year lifespan, Jawbone failed to hold on to significant market share for its line of headsets, fitness trackers, and wireless speakers. With its demise, Jawbone become the second-costliest VC-backed startup failure of all time (per CB Insights).
  • Theranos: This company is going out with barely a whisper. Once heralded as a revolutionary new way to conduct a blood test to detect myriads of diseases, all with a single finger prick. Only one problem, their technology did not work. The company has made preparations to close its operations.  Theranos raised $172 million but its efforts are now focused on avoiding bankruptcy and prison for its executives.
  • Quirky: This startup raised $185 million and relied heavily on retailers to sell its custom created products. Due to the mass reach of these retailers (such as Home Depot), the partnerships appeared to be a blessing, but margins were dramatically reduced and it ended up a disaster. Quirky was on 50,000 shelves in the country, and as a result the company had to produce a ton of inventory. This was a big upfront cost for products that had not entirely been proven. As a result, Quirky overspent on inventory and continued to raise capital as opposed to growing revenues. This vicious combination proved to be unsustainable.

So, how do you create a unicorn? Well, you don’t launch a startup with that expectation. You do launch a company with realistic expectations, one that is focused on solving a key problem in a large industry that also has a large target market. Be it Baby Boomers, Millennials or Gen Z, you aim at a large market. The wild card in a rapidly growing startup is identifying and leveraging a key trend. You should study trends carefully because if you find a trend that will sweep across both a large industry and a large market at the same time that might be the perfect storm. Great examples of this are Uber (disrupting the taxi industry), AirBnb (disrupting the hotel industry), and NetFlix (disrupting entertainment). More recent examples include Ring (disrupting home security) and Casper (disrupting the mattress industry).

Pay attention and learn about Gen Z.  

Getty

Startups are not about ideas. At its basic level, a startup needs to solve a big problem in a valuable niche market or a small but key problem in a big industry. As an entrepreneur or investor, look for three things that could help you in deciding which startup to create that could leverage all three subjects listed below:

  • Markets: You need to really study people in order to understand who you might target with your problem solving mantra. How much will Baby Boomers spend not to die? What keeps Millennials up at night as they angst about life? Who is this newest group Gen Z and what do you know about them? Those three market groups make up about 75% of the US population. Focus on one of these three groups and start looking for problems.
  • Industries: Start with large multi-billion dollar industries that are not innovating. On the surface, these industries give the impression that everything is fine. But they are not responding to market problems or trends. Mattresses look boring, so does yogurt and soap. But they are being disrupted. The yogurt aisle looked fine until Chobani disrupted it with Greek yogurt. The financial investing industry actually understands they are about to be disrupted but the major financial brands don’t know how to combat their legacy brand image with younger customers. Pick a large industry that you care about and study it manically.
  • Trends: Follow and track key trends that you care about. Set up Google alerts on each trend and learn about the trend. Will the trend affect a large market? Will it potentially change an industry? There are lots of trends changing several marketplaces and disrupting large industries. Whether its technology with AI, Iot, cloud, mobile or whether its natural and organic everything, trends ultimately create change as new companies step up and solve problems related to these trends.

You may or may not start or invest in a unicorn. Better than chasing a unicorn is to create or invest in a company that is aimed at disrupting a big market and industry and leveraging a key trend that will sweep both. That is the perfect storm.  

Baby boomers, good manners and statistics

0

Statistics can also reveal opportunities worth billions of dollars for organisations that are smart enough to get involved — and spell doom for those who ignore basic human desires. We’re talking about statistics that deal with our ageing population.

For now, the numbers are heading up. Post-war baby boomers are front and centre and as our politicians recently discovered, this cohort can make or break a government.

The baby boomer generation captures anyone born between 1946 and 1966. Boomers and seniors as a proportion of our overall population currently sit at about 25 per cent and increasing. According to the Australian Institute of Health and Welfare, one in seven of us is now aged 65 years or above. If you make it to your 65th birthday party, you’ll be pleased to know that the Australian Bureau of Statistics reckons a bloke will, on average, live another 18.54 years and ladies, another 21.62.

The troubling aspect of looking at an average is that only half of us will make it. This group is savvy. For the most part they are cashed-up and have no qualms in spending it. Organisations that target this sector can make a fortune. Travel, home help, new cars, Zimmer frames and gophers, right through to retirement villages and aged care — they consume it all. But never forget that this is a generation that embraces the basic ideals of manners and respect.

Learn that and an organisation could clean up. That’s why it’s so perplexing that business and government alike seem hell-bent on making life difficult for what could be their best customers and supporters. I and co-author Louise Biti have just finished a book on care and accommodation for seniors.

We’re not idiots, but the complexities were truly mind-blowing. Fortunately, we think we’ve managed to drill through to find the key nuggets of information people need to know, but don’t underestimate the hundreds of hours it took to get there. Most of the information is available only online. Pity the poor lady in her 70s who has just lost her husband and is trying to figure it all out. Or the 80-year-old codger who shuffles his way into Centrelink and is told “do it online”.

Sure, plenty are tech savvy, but there are tens of thousands who aren’t. It often falls on the shoulders of kids and grandkids to take on the role of dealing with government. Seniors hate imposing on family this way. So here’s a message to the marketing gurus in business and government departments — in an era where technology can tell you instantly who’s calling you, how about redirecting calls to dedicated services targeting seniors?

Companies may even be able to charge an extra dollar a week just to avoid flicking grandma off to an overseas call centre. Respect these guys and you’ll probably find your satisfied customer statistics start heading up.

Baby Boomers Become Entrepreneurs

0

Research being done today shows more and more baby boomers are becoming entrepreneurs. The answer for this group today is possibly owning a home base businesses. There is no need to run amok looking for one of the brick and mortar businesses to become an entrepreneur. Just put your expertise to work for you from the comfort of your own home.

A home base business chosen from the hobbies and / or interests of baby boomers would probably be more prosperous and much more lucrative for the retiring baby boomer. Baby boomers would be more susceptible to success doing what they know and what they feel comfortable doing.

Those reaching retirement age or already retired are faced with the dilemma of what to do to secure their future and the future of their family. They are wondering what will they do to maintain a modicum of decent living. They have waited so long for the day to arrive that they could retire only to find the economy in such turmoil, they do not know what to do.

The future for baby boomers retiring really looks gloomy right now in the face of the 2008 economy. Is it possible for those baby boomers who own home based businesses to turn the economy around? Anything is possible.

There are some really destructive situations facing baby boomers today and one of the issues is the retirement savings that they have / had. If baby boomers had their retirement savings tied up in the stock market, they quite possibly could be without any retirement savings at all. What should they do now?

Just to think that you have worked all those years to have your savings wiped out and you had nothing to do with it. This would not be such a "hard pill to swallow" if other streams of income were in place. There is no doubt, the 2008 economy stresses are weighing heavy on those people who are contemplating retirement.