Mature Market Experts Gem of The Day: Baby Boomer Steve Jobs Turns 54

Mature Market Experts: more mature market news and stats more often: Yesterday Baby Boomer and cancer survivor Steve Jobs turned 54. As one of the people most responsible for shaping a generation, Steve offered some incredible insight on two important topics . . . how to get back up after getting fired (a pretty timely subject in this economy) and the power of death. This commencement speech which he gave at Stanford University is worth the 15 minutes of your time. 

PS     Steve, if you read this, please fix this IPOD problem for your Baby Boomer fans.

PPS   I like Mr. Job’s mention in the video of the “Google” predecessor.

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Mature Market Experts Stat of The Day: Long-term Care Insurance

Mature Market Experts Stat of The Day: The average annual long-term care premium for individuals under 65 is $1,337.

The average premium for seniors over 65 is $2,862.

The average long-term care insurance policy purchased by a 65-year-old and held until death pays out 82 cents for every dollar.

Since 1987, fewer than 10 million Americans have bought long-term care insurance, and only about 7 million of those policies remain in force today.

Almost 30 percent of Americans over 45 have purchased a long-term care insurance policy.

Source: AAHSA, American Association of Homes and Services for the Aging

 

 

 

Mature Market Experts Stat of The Day: Retirement

Source: Institute For The Future: Boomers in Transition

Boomer / Senior / Mature Market Stat of the Day – I have a theory that the upper-middle class to wealthier Boomers will reinvent what retirement means. How? By working longer and creating mini-retirements (a concept developed and coined by Timothy Ferriss in his book The 4-Hour Workweek) throughout their careers.

The idea behind the mini-retirement is that the traditional plan of working hard until you are 62 and then coming to a dead stop seems a little odd. Wealthier Boomers want a healthy mix of work and play with many viewing a traditional retirement as death of the mind and body. And for many Boomers, today’s technology makes working from remote locations a real possibility.

The travel and financial industries need to gain a better understanding of boomers and the mature market if they are to thrive in the changing landscape. In addition, I believe second/vacation homes will continue to grow in importance (for the less adventurous who are afraid to travel far from home).

Mature Market Experts Stat of The Day: U.S. Life Expectancy

Japan continues to have the highest life expectancy.

Japan continues to have the highest life expectancy.

 

The mature market just keeps on growing:

 For the first time ever, U.S. life expectancy has past 78 years

Japan currently has the longest life expectancy – 83 years

Heart disease and diabetes as a cause of death dropped by more than 5%

Death caused by diabetes also declined, placing Alzheimer’s as the country’s new 6th leading cause of death

Flu and pneumonia deaths dropped by 13 percent from 2005

On average, life expectancy for U.S. citizens improves by an average of two to three months every year (this year saw a usual increase of four months)

Source: National Center for Health Statistics, Associated Press