Fears are mounting as to the economic impact of millions of Baby Boomers reaching retirement age and curbing spending while draining Social Security and Medicare. Never mind that the Boomers paid into these programs for years.
“The 78 million boomers — born from 1946 to 1964 — have always broken the mold in terms of setting trends, and some investors and business and community leaders see their retirement as no different. They see an unprecedented, multibillion-dollar opportunity to offer new products and services to an active demographic group that’s expected to live longer than previous generations.”
Community and business leaders in the coastal towns of Myrtle Beach, Hilton Head and Blufton, S.C. see retirees as vehicles to jumpstart dwindling local economies so are retinking sporting and shopping developments, art centers, etc. to attract active Boomers.