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