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What Is On The Baby Boomers’ Minds?

I think there’s nothing more telling for a marketer than a survey of market needs that lets people speak their minds about what they want and need. It’s a lesson I keep learning over and over. There’s really no other way to learn the needs, concerns, and desires of different groups of people within one large catch-all group.

So I was very gratified with the response and the results of our most recent survey of members and subscribers to the Baby Boomers Retirement Club (BBRC). I want to share with you some of the most significant statistics, and the most interesting and surprising comments, that came in from you all.

• The financial and housing market meltdown has made respondents most angry at big banks and their executives (40%). Congress (27.1%), Wall Street (25.9%) and the Bush Administration (25.9%) were closely tied for second place.
• Only 14.0% of respondents were highly confident that they have a good plan to make the most of their future.
• A large majority of those who had taken our Baby Boomers Retirement Club (BBRC) 10-Minute Retirement Quiz had found it very helpful or somewhat helpful (76.8%).
• Our survey respondents’ greatest areas of concern at the current time are Money and Finances (61.2%), Level of Debt (12.9%), Health (12.9%), Elderly Parents (9.4%), Children (5.9%) and Marital Relationship (4.7%).
• Respondents also shared with us their #1 burning questions which heavily emphasized the question “Will I have enough money to live on?” Investment questions such as “How do I now diversify after this economic meltdown?” and the outlook for social security were also common.
• In response the question, “Who is currently your most trusted advisor?” 51.7% of respondents stated no one (38.8%) or their spouse (12.9%). 20% cited their financial/investment advisor and 15.3% cited a financial planner.
• Lots of respondents were interested in employment services, job opportunities and real-life stories of baby boomers’ financial situations and strategies.
• We heard comments like these about what is the greatest concern at this time: “Dealing with the economy and how it affects my plans;” “Not becoming a “blob” without a work structure;” “Where are the “new” jobs coming from?” “Being single and getting older with no one around.”

Your comments are truly appreciated and we pledge to use these insights to continue evolving the best services and easy-to-use solutions to help baby boomers successfully tackle these challenges and make the most of the rest of their lives.

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