Baby Boomers turn 60 next year

[RB]

I mean these boomers have so much wealth of knowledge, experience and intangibles about companies. In order to know the kinds of talents you are going to be losing, those information must be extracted. So do you have a game plan ready?.

Also, I was wondering whether your companies have figured whether they can really afford to let 'em baby boomers go

[PocketRocket]

Hi RB, long time no "see".

The first wave of the boomers may be turning 60, but keep in mind, the boom went on for over 15 years, into the early 1960's.

I was born into the tail-end of the boom.

I recall growing up, where probably 4 of every 5 houses had at least 2 kids, usually more. At the time, 4 or 5 seemed to be the norm.

These days, it's odd to see a house with more than 2 kids, and there are probably more homes without kids than with.

The youngest in a family of 4 kids, all of whom are boomers, I still have well over a decade before hitting 60.

Hopefully there'll still be some pension money left for me

[RB]

PocketRocket

I sometimes become an occasional poster that is why now you "see" me and now you don't.

PocketRocket Posted Today, 12:29 PM

I recall growing up, where probably 4 of every 5 houses had at least 2 kids, usually more. At the time, 4 or 5 seemed to be the norm.

These days, it's odd to see a house with more than 2 kids, and there are probably more homes without kids than with.

1990 - 2000 data

The number of 18-34 years olds shrank by 9 million

The number of 50+ grew by 12 million

The baby boomers control 70% of all America's wealth and their discretionary spending amounts for 50%

But these Gen X rich folks are spending more that the Baby Boomers

Gen X income = 213 k

Baby Boomers = 222,900k

Gen X spends 27k on luxury vs. baby boomers 23k

Travel and home services are the same

Gen X spending far exceeds the Baby Boomers in a number of luxury goods categories including:

60% more than Baby Boomers on fragrance, cosmetics and beauty products ($3,235 vs. $2,017),

47% more on fashion accessories ($6,066 vs. $4,116),

37% more on men's and women's clothing ($23,027 vs. $16,924),

32% more on wines and liquors ($3,922 vs. $2,966).

33% more than Boomers for entertainment ($3,629 vs. $2,722),

17% more for personal/health services ($3,324 vs. $2,838),

11% more for sporting events ($4,176 vs. $3,769).

Data is taken from this website http://www.slfp.com/StyleSTL83.htm

If you didn't have money for your pension now you know why.

First you did not make as much money and then you also went on mindless spending spree over a long period.