Lynette Rambo | August 10, 2017
I loved my grandparents and still reminisce about all the great times my siblings and I shared with them. They worked hard, saved their money, took us on fun outings, always had a handy supply of candy. I survived a slew of homemade, double-knit polyester pantsuits growing up. Usually some kind of plaid pattern. From my point of view back then, my grandparents seemed to be perpetually “old”. Now that I’m 53, however, “senior citizens” no longer seem that old.
Each year since 1988, August 21st has been designated National Senior Citizens Day. A record 46 million seniors live in the United States today. Older Americans — those age 65 and older — now account for 15% of the overall U.S. population. By 2050, 22% of Americans will be 65 and older, according to U.S. Census Bureau projections.
According to a recent report by the Pew Research Center, more older Americans are working now than at any time since the turn of the century. An estimated 19% of seniors are currently employed full- or part-time, up from 12.8% in 2000.
The subset of seniors between 65 and 74 — 25 million Americans — have done better economically, as a whole, than any other generation. An excellent New York Times article titled, America’s Seniors Find Middle-Class ‘Sweet Spot’, points out that while most Americans suffered serious losses during and after the economic downturn in 2007, seniors were supported by social security, pensions, and investments.
In addition to better weathering the economic storms, many seniors …
Between 1989 and 2013, the median household income for people in the 65-to-74 age group doubled, entering more seniors into “middle class” status. The article reported that older Americans spent 18% more per household in 2013 than in the late 1980s, while spending for other age groups remained relatively flat. While healthcare accounted for some of the difference, seniors reportedly spent 57% more on entertainment, and significantly more on other items — such as homes, rental cars and even alcohol.
The Center for Generational Kinetics, a research and solution firm that focuses on Millennials, Gen Z, and the generations, classifies a generation is a group of people born around the same time, raised around the same place, and who exhibit similar characteristics, preferences, and values over their lifetimes.
The Center also subscribes to three main trends that shape each generation:
While seniors are the group most likely to say they never go online, a recent survey conducted by Pew Research Center found that seniors are moving towards being more digitally connected. Younger, more affluent, educated seniors are helping drive this growth.
According to the 2017 report:
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Lynette Rambo is a Certified Email Marketing Specialist and a Marketing Consultant for the Salesforce Marketing Cloud. She has over 20 years of marketing, communications, design, and public relations experience for both small businesses and larger corporations. As a Marketing Consultant for ListEngage, Lynette consults clients on email marketing best practices, strategic planning, content creation, campaign management, and provides training and demos on the Marketing Cloud. She also works with the Salesforce CRM and connecting Sales and Marketing initiatives. You can contact Lynette at email@example.com.