In 1889 a German Chancellor created the first known "old-age" social insurance program. Setting the age of eligibility at 65. But in 1890 it is estimated that less than 15% made it to the age of 70. The 65 age limit was a very sound bet for a shrewd business man.
Today the average life expectancy in North America is 81 and all of the indicators are present that 65 is no longer a checkout date for most of us. Slowly our aging population is gaining awareness of the challenges we must address personally and as a society.
Claiming 50 is the new 40 is completely inaccurate. The 55+ group is a tough crowd to impress.
- Better Educated
- Controlling 75% of the North American wealth
- Due diligence on purchases is a given
- and the 55+ finally feel they have TIME!
50 can now truly be seen as Middle age, a little scary to some of us already there. But an opportunity also. Wisdom, determination and the buying power are strong tools. The 55+ consumer is beginning to sway industries.