Some of us will likely never retire, or never get to retire!! As a business person, a marketer, and a market researcher, I found this data to be very interesting. As they state, consumption habits of aging Americans are likely to be very different from earlier generations.
Thursday, March 6, 2008
Retirees, Followed By Boomers, Will Redefine Retirement
According to a report from The Media Audit, adults who are nearing retirement are now one of the fastest growing demographics in the country. 17.9% of all U.S. adults are now retired , a figure that has increased by 6% in the last five years and will rapidly increase as Boomers exit the workforce over the next few decades.
Consumption habits of aging Americans are likely very different from those of their predecessors because they are living longer, achieving higher levels of education, are wealthier, and redefining what it means to be retired.
83% of the retired adults in the U.S now own their own home
Thirty percent of retired adults have cash, stocks and CD’s valued at more than $100,000, the highest figure ever reported
13.1% of new automobile purchasers are retired, compared to 11.1% five years ago. 8.3% of adults who have a car loan are retired, compared to 6.4% five years ago, an increase of nearly 30%
16% of adults who frequently stay in hotels are retired, compared to 14.7% five years ago, a jump of almost 10%
Among frequent beer consumers, 13% are retired, compared to 11.3% five years ago
Adults who are retired are 6% more likely than the average U.S. adult to frequently dine out at a full service restaurant and retirees now make up nearly 20% of all adults who frequently dine out.
14.3% adults who plan to take an ocean cruise in the next year are retired.
Nearly one in five adults who plan to have lasik eye surgery are retired, and are 5% more likely than the average adult to be planning a lasik eye surgery procedure.
The report further reveals that adults who are retired today compared to the average U.S. adult:
Spend nearly 30% more time watching broadcast TV, 14% more time watching cable TV, 25% more time reading a daily newspaper
Retired adults today spend only 89 minutes per day online, a figure that is 26% less than the average U.S. adult who spends 123 minutes per day online. The next generation of retirees, though, is expected to be more computer and internet friendly, since Baby Boomers between the ages of 45 and 64 spend a considerably higher amount of time online - 123 minutes per day.
The most affluent retirees can be found in larger markets such as Washington, D.C., where the average retired adult earns $64,000 in household income.
San Jose, California, Fort Myers- Naples, Florida, San Francisco, California and Long Island, New York, follow behind with household incomes of more than $50,000.
And, currently the top ranking retiree markets are:
Ocala, Florida with the highest percentage of retired adults (36%)
Fort Myers- Naples, Florida (34%)
Daytona Beach, Florida (33%)
West Palm Beach, Florida (31%)
Melbourne-Titusville-Cocoa, Florida (29%)
For more information from the MediaAudit, please visit them here.
Tuesday, June 24, 2008
Monday, June 23, 2008
More Seniors Filing For Bankruptcy
KISSIMMEE -- Elderly Americans have been filing for bankruptcy more than any other age group in the U.S. Medical bills, credit card payments and mortgages have become simply too much for a lot of seniors.
The American Association of Retired Persons released a new study that showed the rate of personal bankruptcy filings among those ages 65 or older jumped by 150 percent from 1991 to 2007, and the rate of seniors ages 75 to 84 jumped an astounding 433 percent.
Melvin Berman, 78, a retired post office worker in Osceola County, said he did not know what to do. Almost seven years ago, he filed for bankruptcy, but his debt has continued climbing.
Berman told News 13 he was two months behind on his mortgage payments, and could barely afford to pay his electric and grocery bills. His pension just is not enough anymore.
"You work all your life, and you want to have a nice retirement, and what happens when you do retire? You're out of luck," Berman said.
More and more, seniors like Berman are walking through the doors of buildings like the Osceola Council on Aging, because they are in financial trouble, and do not know where to turn.
"Is bankruptcy the right choice? Should I refinance my house? Should I take a reverse mortgage? We've had a whole lot of interest in those topics by people looking to get out of a problem," said Debi Wood, with the the Osceola Council on Aging.
Wood says there are solutions, including what Berman did: He contacted his local senior resource center.
"There's no end to it," Berman said. "If I could see the end of the rainbow, where it could help me, it would be better."
If you need help, you can get more information on where to turn by calling 211. Just ask the operator for your local senior resources, or financial assistance, and they can direct you to the appropriate person.
View Video
The American Association of Retired Persons released a new study that showed the rate of personal bankruptcy filings among those ages 65 or older jumped by 150 percent from 1991 to 2007, and the rate of seniors ages 75 to 84 jumped an astounding 433 percent.
Melvin Berman, 78, a retired post office worker in Osceola County, said he did not know what to do. Almost seven years ago, he filed for bankruptcy, but his debt has continued climbing.
Berman told News 13 he was two months behind on his mortgage payments, and could barely afford to pay his electric and grocery bills. His pension just is not enough anymore.
"You work all your life, and you want to have a nice retirement, and what happens when you do retire? You're out of luck," Berman said.
More and more, seniors like Berman are walking through the doors of buildings like the Osceola Council on Aging, because they are in financial trouble, and do not know where to turn.
"Is bankruptcy the right choice? Should I refinance my house? Should I take a reverse mortgage? We've had a whole lot of interest in those topics by people looking to get out of a problem," said Debi Wood, with the the Osceola Council on Aging.
Wood says there are solutions, including what Berman did: He contacted his local senior resource center.
"There's no end to it," Berman said. "If I could see the end of the rainbow, where it could help me, it would be better."
If you need help, you can get more information on where to turn by calling 211. Just ask the operator for your local senior resources, or financial assistance, and they can direct you to the appropriate person.
View Video
Thursday, June 19, 2008
How Not To Retire - Central Florida Community College
Central Florida Community College will offer “How Not to Retire" for seniors 50 and older from 9 a.m. to noon June 26 at the Ewers Century Center at CFCC, 3001 S.W. College Road.
The seminar is the third in the Living Well Series sponsored by CFCC’s Pathways Life Services, a program for adults in or nearing retirement.
Seating is limited.
The $15 fee includes refreshments.
To register, call 291-4444.
The seminar is the third in the Living Well Series sponsored by CFCC’s Pathways Life Services, a program for adults in or nearing retirement.
Seating is limited.
The $15 fee includes refreshments.
To register, call 291-4444.
Tuesday, June 17, 2008
VA outpatient clinic coming to Villages in 2010
VA outpatient clinic coming to Villages in 2010
Christine Show Sentinel Staff Writer
June 16, 2008
THE VILLAGES - It's become a long trip for Harold Sievers to drive fellow veterans to Gainesville's Veterans Affairs' medical center.Now Sievers, 75, a volunteer transport driver, looks forward to shorter rides to a new regional VA outpatient clinic in The Villages that is expected to open in spring 2010.Groundbreaking on the 90,000-square-foot facility is set for 10 a.m. today at a ceremony on Mulberry Lane. U.S. Rep. Cliff Stearns, R-Ocala, will be the keynote speaker. Stearns is deputy Republican leader on the House Veterans Affairs Committee.Sievers, president of the All Military Veterans Unit in The Villages, is excited.
"It's been a long time in the coming for us to be getting a clinic, which has been so desperately needed," Sievers said.The facility will be an expansion to the temporary VA clinic in the retirement community on Laurel Manor Drive, said Mary Kay Hollingsworth, public-affairs officer for the VA's North Florida/South Georgia Veterans Health System.Residents in east Lake County have recently been able to receive services from a VA hospital that opened in Orange City in Volusia County in early May.
WHO'S ELIGIBLE? The clinic will serve veterans in Lake, Sumter and Marion counties, who are among 125,000 Central Florida veterans. The Villages, and the surrounding Central Florida area, is deemed to be a prime location for veterans in need of medical treatment.
WHAT SERVICES WILL BE OFFERED? A 90,000-square-foot outpatient clinic is being built to support a number of services to veterans. Patients can receive treatment in areas such as audiology, dental, orthopedics, women's health, cardiology, eye care and podiatry. A diagnostics lab, a pharmacy and mental-health services will also be available.
WHERE IS THE CLINIC? The facility will be on Mulberry Lane in Marion County just off SE Highway 42. WHAT'S THE TIMETABLE FOR OPENING? After the groundbreaking today, The Hamstra Group Inc. is to begin building the facility in late June or early July. Construction is expected to be completed in early 2010, and the facility is to open in spring 2010.
Christine Show can be reached at cshow@orlandosentinel.com or 352-742-5917.
Christine Show Sentinel Staff Writer
June 16, 2008
THE VILLAGES - It's become a long trip for Harold Sievers to drive fellow veterans to Gainesville's Veterans Affairs' medical center.Now Sievers, 75, a volunteer transport driver, looks forward to shorter rides to a new regional VA outpatient clinic in The Villages that is expected to open in spring 2010.Groundbreaking on the 90,000-square-foot facility is set for 10 a.m. today at a ceremony on Mulberry Lane. U.S. Rep. Cliff Stearns, R-Ocala, will be the keynote speaker. Stearns is deputy Republican leader on the House Veterans Affairs Committee.Sievers, president of the All Military Veterans Unit in The Villages, is excited.
"It's been a long time in the coming for us to be getting a clinic, which has been so desperately needed," Sievers said.The facility will be an expansion to the temporary VA clinic in the retirement community on Laurel Manor Drive, said Mary Kay Hollingsworth, public-affairs officer for the VA's North Florida/South Georgia Veterans Health System.Residents in east Lake County have recently been able to receive services from a VA hospital that opened in Orange City in Volusia County in early May.
WHO'S ELIGIBLE? The clinic will serve veterans in Lake, Sumter and Marion counties, who are among 125,000 Central Florida veterans. The Villages, and the surrounding Central Florida area, is deemed to be a prime location for veterans in need of medical treatment.
WHAT SERVICES WILL BE OFFERED? A 90,000-square-foot outpatient clinic is being built to support a number of services to veterans. Patients can receive treatment in areas such as audiology, dental, orthopedics, women's health, cardiology, eye care and podiatry. A diagnostics lab, a pharmacy and mental-health services will also be available.
WHERE IS THE CLINIC? The facility will be on Mulberry Lane in Marion County just off SE Highway 42. WHAT'S THE TIMETABLE FOR OPENING? After the groundbreaking today, The Hamstra Group Inc. is to begin building the facility in late June or early July. Construction is expected to be completed in early 2010, and the facility is to open in spring 2010.
Christine Show can be reached at cshow@orlandosentinel.com or 352-742-5917.
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