The Baby Boomer Generation has reached retirement age. Born between 1946 and 1964, we are the generation that has seen the invention of television, muscle cars, the internet, cell phones, personal computers, and credit cards. We witnessed the first satellite launching, the first humans in space, and the moon landing. We were part of a population explosion that made us the majority of US citizens.
High Income Baby Boomer Generation
Baby boomers own most of the assets in the United States. Boomers as a whole have earned high incomes, often spending it fast or faster than we earned it. We are the champions of buying, and the champions of debt. Most boomers, if we did start saving for retirement, started saving too late, and have less than expected for retirement. Some did wake up and started looking at their spending habits in time to start investing and managing their budgets. Many have been hit financially from both ends of the spectrum. Unexpected expenses for children in a difficult economy at one end, and aging parents requiring more care than expected at the other end. This stretches budgets. As a result, many baby boomers are approaching retirement age without the assets they anticipated.
RVing and The Baby Boomer Influence
Without a doubt the baby boomer generation has influenced the RV industry. Our desire for fine toys continues as we move into retirement. In years gone by you could walk through a campground and hear the sounds of Harry James, Frank Sinatra, or Perry Como through an open window. Today, as you walk through, you are more likely to hear the sound of The Stones, Fleetwood Mack, CCR, or The Eagles in full surround sound. Prevosts, high end motorhomes running into the millions, and lavish fifth wheel trailers dot the scene. An amazing selection of electronic gadgets are on board, and a host of toys like motorcycles, 4 wheelers, and even Segways, are carried, towed, or stowed. If you are among the baby boomer generation, you will most likely continue to influence the RV industry throughout your retirement.
If, like many of the baby boomer generation, you have less retirement funds than you hoped for, living on a budget will be a factor going into retirement. Rest assured you are not alone. As we travel about the country, we have discovered that most retiring baby boomers need to pay attention to their spending patterns, either a little or a lot. This is not the end of the world! Many RVers are on very strict budgets and are among the happiest people alive. Baby boomers are very creative and often will share their ideas on living the dream on a budget.