Retirement is Changing
Our clients are more savvy and will continue to be that way. Advisors who have not fully embraced technology as a viable way to engage the baby boomer generation may find some encouragement to do so below.
Times are changing. The Days of the “Senior Center Play” is fading for many
“Rocky” Like You’ve Never Seen It
18 Facts
- One-third of the 195.3 million internet users in the U.S., adults aged 50+ represent the Web’s largest constituency (Jupiter Research).
- Two-thirds of Americans 50+ buy from e-retailers online (Pew).
- In 2012, baby boomers (47-65) spend 27 hours per week online, 2 hours more per week then Millennials (16-34) at 25 hours per week (WSL/Strategic Retail).
- 89% of seniors 65+ have personal email and use it regularly (Nielsen).
- 72% of baby boomers have broadband internet in their homes (ThirdAge and JWT Boom).
- 36% of adults 50+ own a smartphone (Pew).
- 44% of smartphone owners age 50+ access the Internet or check email daily from their device (Pew).
- Adults 45+ account for 34.7% of current tablet users (comScore TabLens).
- From 2004 – 2009, the number of seniors age 65+ actively using the Internet increased more than 55% (Nielsen).
- 27.4 million people age 55 and over engaged in social networking with nearly 19 million of those people using Facebook (comScore).
- Adults 50+ spend an average of $7 billion online annually (SeniorNet).
- 72% of adults 55-63 and even 47% age 73+ shop online (Forrester).
- 41% of internet users 50-64 and 27% age 65+ say they watch videos online (Pew).
- The Internet is the most important source of information for baby boomers when they make major market purchases, such as automobiles or appliances (Zoomerang).
- 42% of all travel industry purchases happen online, and adults 50+ account for 80% of all luxury travel spending (Pew Internet and American Life Project).
- 82% of adults aged 50+ who use the Internet research health and wellness information online (Pew Internet and American Life Project).
- The top four online websites for people over 60 are Google, Facebook, Yahoo and YouTube (AARP).
- 65% of all adult Internet users engage in social media. In 2011, baby boomers increased their usage of social media by 60% (WSL/Strategic Retail).
Don Graves, RICP®, CLTC®, Certified Senior Advisor, CSA®
President and Chief Conversation Starter at HECM Advisors Group/Institute
Don Graves, RICP® is a Retirement Income Certified Professional and one of the Nation’s Leading Educators on the Emerging Role of Reverse Mortgages in Retirement Income Planning. He is president and founder of the HECM Institute for Housing Wealth Studies and an adjunct professor of Retirement Income at The American College of Financial Services. He has helped tens of thousands of Advisors as well as more than 3,000 personal clients since the year 2000
Latest posts by Don Graves, RICP®, CLTC®, Certified Senior Advisor, CSA® (see all)
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Categories: Advisors, General/Misc
Tags: Baby Boomers, Computer Usage, Online Usage
