5 Baby Boomer Trends in 2019
As of 2019, the vast majority of the baby boomer population has reached the age of 55 or older. Many seniors are adopting unique and interesting lifestyles to compliment the changing economic and social landscape. This article will detail five baby boomer trends to watch out for in 2019.
1. An increase in longevity and active lifestyles
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There must have been something in the water because baby boomers are aging remarkably well. In fact, according to the Harvard School of Public Health, today’s seniors are anticipated to lead longer, healthier lives in comparison to younger generations.
Research has shown that the increase in life expectancy has been coupled with a decrease in disabilities and chronic illnesses. This could very likely be linked to the fact that seniors are now more than ever embracing healthy, active lifestyles. In fact, individuals over the age of 50 years old are the fastest-growing demographic in the fitness industry.
While grandma and grandpa might be using a stairlift at home for their mobility needs, they’re working hard to reduce mobility aid devices in their outside-of-the-house lives. Remaining independent is the most important thing that seniors are thinking about as they age.
Furthermore, research has shown that between 35%-44% of individuals 75 years and older and 28%-34% of adults ages 65-74 are physically active. These overall numbers in our senior population are actually slightly higher in contrast with the general American population of which 28% are noted for being physically active.
2. Embracing the gig economy
Think that the vast majority of the freelance population is comprised of younger generations? Think again! A recent study found that the baby boomer population is embracing the gig economy almost as much as their younger counterparts. According to the Freshbooks 2018 Self-Employment Report, 49% of freelancers in the job market are 50 years old and over.
The study also found that 32% of baby boomers who currently worked full-time stated that freelance work was something they were considering within the next five years. Part of the reason behind this is that many baby boomers prefer a transition period before fully committing to retirement.
3. A growing interest in communal living
Aging in place is a popular trend among the baby boomer population, and this has grown to include a growing interest in communal living as an alternative to traditional options like assisted living facilities or hiring a caregiver. This has especially been a trend among female baby boomers. As the economy continues to recover and housing prices surge, baby boomers are increasingly looking towards the communal life as a way to offset living costs and combat what has been coined as a “modern epidemic of loneliness.”
4. Adopting a tech-savvy mindset
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Baby boomers are the fastest-growing demographic among social media. Over 65% of baby boomers in the United States report being active on platforms such as Facebook and Youtube. Additionally, more than 58% report regular use of digital and mobile platforms for banking purposes, and over 12% of the baby boomer population enjoys the luxury of purchasing their groceries online. Pew Research found that roughly half of baby boomers streaming music online, and as of 2017, a whopping 84% regularly book their travel arrangements online. Furthermore, 53% of seniors surveyed stated that they absolutely “can’t live without” their smartphones.
What this means is that a vast majority of baby boomers are active online on numerous channels, regular users of mobile devices and enjoy staying connected to friends and family.
5. Baby boomer travel trends
Currently, 48% of baby boomers are expected to travel both internationally and domestically in 2019, and the baby boomer demographic is more likely than millennials or GenXers to be planning domestic travel arrangements at any given time. A recent AARP report found that seniors are expected to take anywhere from four to five leisurely trips and spend over $6,600 on vacations in 2019.
This means that the baby boomer demographic will be spending almost 20% more than millennials and around 34% more than their GenX counterparts on leisurely travel this year alone. What was the biggest motivating factor for international travel among the baby boomer population according to the research? Checking destinations off of the bucket list.
There are numerous noteworthy trends regarding baby boomers to be aware of in 2019. By remaining knowledgeable of various lifestyle preferences, habits and behaviors of today’s seniors, professionals are able to gain valuable insight into the baby boomer generation in order to optimize their strategies and continue to provide high-quality care and services for contemporary seniors within their communities.
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