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