Marketing
The first Baby Boomer hits retirement age in the year 2011. What types of information would assist you in forecasting market potential and future demand for products and services of this emerging "maturity market"?
What do people over 60 buy? Are they affluent? How is their health? Do they need more prescription drugs and health care? Are they buying second homes? Do they travel?
what are some of the past trends of the retirement age.
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There have been several trends concerning the retirement age over the past few decades. Overall, the number of Americans retiring at the earliest age has dropped significantly since 1980. While most retirees in 1980 were retiring at age 62 or lower, this number decreased to 56.4% in 2017. In addition, the number of people aged 65 and over in the labor force has nearly tripled since 1985, from 10.5% to 30.1% in 2017. This is mainly attributed to an increase in the labor participation rate of women and a longer life expectancy among the elderly. Older people are increasingly staying in the job market longer and some are even beginning new career paths once they retire.
