New Retirees: Boomers Embrace Millennial Values
A new report from global market research firm Ipsos suggests that today's boomers are embracing the same attitudes as millennials, approaching retirement with optimism, creativity and a sense of adventure.
The findings are backed up by a similar study released in 2013 by global accounting firm PWC, which concluded that "the similarities in attitudes across generations are striking". For example, more than 60% of both millennials and boomers agree that work interferes with their social lives.
By 2025, one in every five Americans will be 65 or over. As they prepare for retirement, many boomers are displaying values that are popular among many millennials – such as social responsibility, environmental awareness and a desire to do good. For example, a 2014 survey conducted among working retirees in the US found that 57% are either volunteers or work in a job that provides a community service, while many are even considering a second career – see Longer Working Lives for more.
Boomers are even embracing millennials' enthusiasm for technology, with healthcare their main motivator. The Ipsos report suggests brands should make technology such as wearable fitness trackers adaptable and easy to use to appeal to this market, in addition to highlighting the health benefits of such devices.
For more insights into this dynamic demographic, take a look at Power Boomers.