WHY FINAL EXPENSE?

 
 

Every Day, thousands of people are turning 65…

  1. Baby Boomers make up about 26 percent of the population. California has the highest population of Baby Boomers (9 million), followed by Texas (5.6 million), New York (5.1 million), Florida (4.6 million) and Pennsylvania (3.4 million). (55places.com)

  2. The 65+ population segment is projected to double to 71.5 million by 2030 and grow to 86.7 million by 2050. Possibly more than 80 million will be on Medicare and Social Security. (CNN)

  3. There’s a widely paraded myth that Baby Boomers have a lot of wealth. They don't. Sure, they have more discretionary income than any other age group. However, in 2007, before the housing bubble burst, older households (between 55 and 64) had a median net worth of $266,000. By 2010, that shrunk dramatically (33%) to $179,400. (Governing.com)

  4. Boomers financially support their adult children. Almost 60% of Baby Boomer parents provide financial support to their adult children, including living expenses, medical bills and paying off loans. (Forbes)

  5. Baby Boomers are the Web’s largest constituency. They make up over 30% of US internet users. They spend 16 hours per week watching T.V. and 19 hours per week online. (Google/Ipsos)

  6. Search and email are the top two online activities among Boomers. A DMN3 survey of online Boomers found that 96.1% of use search, while 94.8% of Boomers use email. They often use the Internet to research health and wellness information, as well as plan and book leisure trips. (DMN3)

  7. Boomers contribute more positive online product reviews than other generational groups. They contribute 45% of the total online product opinions and assign 3% more five-star ratings. (Bazaarvoice)

  8. Boomers love Facebook. An astonishing 84.9% of Boomers said they use Facebook. (DMN3)

  9. Boomers are comfortable with online transactions. Almost 9 out of 10 Boomers have made an online purchase. (eMarketer)

  10. Baby Boomers are confident, independent and self-reliant. This generation grew up in an era of reform and believe they can change the world. They went from Hippie to Yuppie. Baby Boomers understand that the world doesn’t owe them anything. They’re not afraid of confrontation and will not hesitate to challenge authority and status quo. (About.com)