| The "Matures" are the generations that came along | | | | They are good prospects for travel services, |
| between 1909 and 1945. Born to and tempered by | | | | restaurants and leisure activities, as well as estate |
| economic uncertainty, older Matures were nurtured | | | | planning and, increasingly, long-term care products.- |
| by the New Deal and served in the mightiest armed | | | | Age 74 - 84: People in the 75-to-84 age group have |
| force fielded by any nation. The Matures' core values | | | | been classified as the "young old"--though you'll find |
| are a roll call of traditional American culture: Honor; | | | | that many women prefer 'of a certain age,' especially |
| optimism, selflessness, dedication to a higher purpose | | | | if you don't want a hatbox in the face, cautions the |
| (self-sacrifice equals virtue).Having made the World | | | | New York Times.The 9 million people in this age |
| safe for democracy, the men and women whom we | | | | bracket represent assets worth close to $100 billion. |
| now refer to as the "Matures" attended college on | | | | Concerned with the possibility of serious illness, their |
| the G.I. Bill, opened businesses, raised families...and | | | | priority is health care and maintaining their |
| saw the Marshall Plan rebuild Europe from the ground | | | | independence despite greater difficulty with routine |
| up (many as participants!).Shared Experiences -- | | | | tasks. There are many more women than men in this |
| Seeing is BelievingAs a result of these shared | | | | group; they spend 25% of their incomes on health |
| experiences, Matures tend to believe in the ability of | | | | services, and tend to invest heavily in cash |
| institutions and people with expertise and the will to | | | | equivalents, saving their money instead of spending |
| achieve to solve problems and get things done. Still, | | | | it.- Over 85: People over 85 are now the |
| like other people, the Matures want options and need | | | | fastest-growing segment of the Mature market in |
| to know the long-term benefits of the things they | | | | percentage of growth. According to the New York |
| buy and buy into. While they may have a soft spot | | | | Times, "The number of Americans who are 85 or |
| for their own grandkids, at heart these people are | | | | older is rising rapidly: The total jumped 51 percent |
| unemotional pragmatists who distrust marketing | | | | from 1980 to 1996, and is expected to climb an |
| hype, resist canned sales tactics and insist on doing | | | | additional 32 percent by 2005. Genontologists, not to |
| business with trusted professionals with proven track | | | | mention marketers, already call this age group the |
| records, not just anyone claiming to be an | | | | 'oldest old'-an unfortunate moniker that sounds only |
| "expert."Mature Market SegmentsThe Matures tend | | | | slightly better than 'prime of geezerdom.'"Thirty years |
| to think and associate with people many years | | | | ago, many in this market segment were among |
| younger than themselves. With that in mind, it is | | | | those who moved into first-generation retirement |
| worthwhile to understand the common characteristics | | | | communities in Florida, Arizona and other Sun-Belt |
| associated with the various age-based market | | | | states, attracted by the offer of an "active |
| segments that make up this large generational cohort | | | | retirement lifestyle," replete with year-round golf, |
| and be prepared to help prospects address | | | | swimming pools, bridge at the clubhouse. More |
| age-specific subjects:- Age 50 - 64: The 33 million | | | | recently, these establishments have been busily |
| pre-retirees between ages 50 to 64 control assets | | | | reinventing themselves to accommodate the growing |
| worth approximately $575 billion and have the highest | | | | number of now-elderly retirees, doing everything |
| disposable income of any age group. This age group | | | | from making home health care available to installing |
| has a self-image of a much younger generation, is | | | | elevators in no-longer accessible two-story buildings, |
| concerned with appearance, fitness, nutrition and | | | | and turning up the lights in the bingo hall. Many offer |
| self-fulfillment. They are good prospects for exercise | | | | services to residents who are taking the next |
| equipment, cosmetics, luxury cars, financial services, | | | | inevitable steps to full-time nursing home care.Many |
| investment advice and travel. While there are more | | | | older Matures are caring for friends and family on |
| or less equal numbers of men and women in this age | | | | their own through programs in churches and temples. |
| group, many are new grandparents and spend a lot | | | | "Forty million Americans are 60 and older. 'Senior |
| of money on their grandchildren.Also among this | | | | Companion' programs, and others like it, both formal |
| group are members of the "Sandwich Generation." | | | | and informal, were formed to improve the lives of |
| That is, younger Matures and older Boomers who | | | | the elderly...The relationships they foster may even |
| may still have children in college and are in the midst | | | | allow seniors to stay in their own homes longer, |
| of planning for retirement, but who also find | | | | which is better for them and less expensive for |
| themselves having to provide a certain amount of | | | | everybody...Seniors who help others get as much out |
| financial support and make important decisions for | | | | of it as those they help." (Source: "Companions in |
| their own parents. To keep themselves marketable | | | | Caring," by Karen Long, Tampa Tribune).The adult |
| some people in this situation are going back to school | | | | children of Matures may understand their parents' |
| looking for additional income opportunities through | | | | need for financial security planning, but may be |
| adult education (in effect, using what they learn at | | | | reluctant to urge action for fear of coming across as |
| school tonight on the job tomorrow).- Age 65 - 74: | | | | a bit too eager about their own inheritances, |
| The 17 million people in this market segment control | | | | suggests Elaine Floyd, CFP of Bellingham, Washington, |
| assets worth approximately $195 billion. Largely, but | | | | author of J.K. Lasser's Investor's Tax Guide. It might |
| not entirely, retired now, most have a great deal of | | | | help to have friends their parents' age who have |
| free time; yet they are still very active and are | | | | already done their own planning bring the subject up |
| concerned about diet and health, and are very | | | | and help them see the light.If it works, why |
| sensitive about being excluded from society.They | | | | not?Want More? Send questions and comments to |
| tend to choose lighter foods, use prescription | | | | w..Bill Willard, President of Willard Associates, has over |
| medications, and buy services that help them | | | | 30-years experience providing high-impact written |
| accomplish daily chores. Because most women still | | | | communications to small-business owners and |
| outlive most men, there is an increase in the number | | | | independent professionals. A Phi Beta Kappa and |
| of female-headed households in this group. Many | | | | former managing editor, he lives in Clearwater, FL. - |
| have substantial sums of money in cash equivalents. | | | | w. |