Don't write Baby Boomers off just yet

Soldiers returning from World War II couldn't wait to get out of uniform, and we've been experiencing the repercussions ever since.

The Baby Boom that resulted -- kids born from 1946 to 1964 -- echoed through the U.S. economy in ways no business could ignore.

Whether it was the need for more baby supplies and elementary teachers, high school and college classes, sports cars or station wagons, apartments or starter homes, those who catered to the market that accompanied the population wave found themselves prospering or swamped by demand they were unable to meet.

Anyone who thought the Baby Boom would quietly roll into obscurity as the leading edge hit 60 years of age is now finding out just how wrong they were.

According to The Media Audit, the number of men and women age 50 and over has increased from 44.6 million to 51.1 million in the past five years.

Of that number, some 23.4 million are retired, with an average annual household income of a little more than $42,000 or more. Collectively, they have liquid assets of at least $250 billion.

Since 2000, the number of boomers with at least one college degree has increased from 32.5 percent or 14.6 million, to 36.3 percent or 19.3 million.

More than 37 percent earn $50,000 or more, and those with an annual income of $75,000 or more has increased from 17.8 percent to 22.1 percent.

Of the 50+ population, 82.3 percent own their own home, compared to 69.2 percent in the general population; 4.3 percent plan to buy a home in the next two years, and 3 percent expect to pay $30,000 or more for their next automobile.

They are still enjoying life, with 29 percent visiting a gambling casino during the past year compared to 26.8 percent of all adults, but they have mellowed: this group of boomers are drinking less beer and more wine that all adults.

"The numbers make it pretty clear that the baby boomers don't stop spending money when they turn age 50," said Bob Jordan, president of International Demographics. "A lot of their 'plan to buy' numbers are very comparable to those of the general adult population.

With affordable housing and abundant recreational opportunities, such as golf, fishing and hunting, Southwest Nebraska is in a key position to attract members of this important target market.

Whether just new empty-nesters or near retirement age, more and more Baby Boomers are looking for what we have to offer.