First Boomers Hit 65
As you probably realize, the first Boomers begin hitting age 65 on January 1st.
Is it just a speed bump?
Or is it the beginning of the end for this historic cadre that has driven the planet’s cultural, social and consumer trends since we climbed off our tricycles?
The Boomer Project’s keen analyst of all things Boomer, Matt Thornhill, offered some observations on the milestone. He notes that two recent major studies — one by the Pew Research Center, the other by AARP — arrive at opposite conclusions.
Pew telegraphs its findings in the headline of its report: “Boomers Approach 65 … Glumly.” As the study says: “Perched on the front stoop of old age, Baby Boomers are more downbeat than other age groups about the trajectory of their own lives and about the direction of the nation as a whole.” And: “Fully 80% say they are dissatisfied with the way things are going in the country today” … well beyond the dissatisfaction expressed by other generations. Here’s the Pew study.
Fundraisers, I leave it to you … good news or bad?! Donors want to change things, right?
[Parenthetically, this recent Harris Interactive survey reports that all Americans are gloomy … at least over the economy and their personal financial situations.]
AARP on the other hand only surveyed individuals who will turn age 65 during 2011. AARP finds this group generally satisfied and optimistic. Seventy-eight percent say they are satisfied with the way things are going in their lives today. And 7 in 10 say they have achieved all or most of what they wanted out of life. Here’s the AARP report.
What does Thornhill make of the contradiction?
“…with a generation some 76 million large, there are countless variations. You can’t sum up generational attitudes in a word or a phrase. There are tens of millions of very happy and satisfied Boomers of all ages, and there are some soon-to-be-65 Boomers who are depressed and, well, glum. The only thing we can tell you with certainty is that Boomers are not old. Follow the logic: the median age is 56 and, according to Pew, the typical Boomer feels nine years younger (so age 47) and thinks “old age” starts at age 72 — some 25 years in the future!”
Methinks Boomer glumness will only get worse, unless they all read Erik Erikson on aging! Because Boomers are yet to begin processing psychologically that — despite the hype that 70 is the new 50 — certain things, not all good, are inevitable!
Fundraisers: Given contradictory survey data, to be on the safe side, you better raise that Boomer money while you can!
Tom
While I totally understand the thinking behind 70 being the new 50, and find myself using that same “logic” often, I do wonder what impact that will have on planned giving?
If you’re not planning on leaving this plane anytime soon – preferably well into your 120s – will people in my generation and above make plans?