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