When David and Alice Goldstein sold their online education business in 2013 they looked forward to relaxing and enjoying an early retirement. They were excited about spending more time with family, having more time to take longer trips, and the freedom to serve as volunteers for various non-profits. They also had a passion for encouraging young entrepreneurs so they were always on the lookout for opportunities to mentor and invest in startups.
What they found is that even when they busied themselves with all of those things, they still had a lot of time and energy left over to do more.
A long-time associate brought the Goldstein’s an opportunity to take over an online business that helped aging seniors and their families navigate some of the difficult choices that nearly all of them face. HousingForSeniors.com was already helping seniors and their families by providing in-depth information about everything from Senior Home Care, to Assisted Living, and Alzheimer’s care. In addition, there was an enormous library of articles covering a wide range of topics including financial planning, diet, travel, and various senior-related disease and treatment studies. It seemed like a good fit so they acquired the business.
Since acquiring HousingForSeniors.com, they have helped hundreds of older seniors find the perfect place to live and enjoy an improved quality of life. However, Housing For Seniors was focused almost exclusively on helping the “Silent Generation,” (those seniors born between the years of 1925 and 1945) and the Goldstein’s wanted to reach younger, healthier, and more active Baby Boomers (those born between 1946 and 1964). Being members of the Baby Boomer generation, they could identify much more closely with the issues the group shared.
In April of 2020, David and Alice launched a new project they developed to help Baby Boomers (those born between 1946 to 1964 – ages 55 to 73) make better life decisions.
As a group, Baby Boomers hold considerable wealth. They are the United States’ wealthiest generation, with a combined spending power approaching $3 trillion dollars.
Still, far too many Boomers are retiring in precarious financial situations, adding stress to what most expected to be some of the best years of their lives. This is a result of several factors including not saving enough during their working years and underestimating the costs of things like healthcare.
BoomerBuyerGuides.com is being developed as a place that Baby Boomers can visit to learn how to make better spending decisions, but that’s only the beginning. The website is home to a growing library of product and service reviews covering the products and services that Baby Boomers buy or should consider buying.
Much More Than Spending Advice
In addition to product and service information and reviews, BoomerBuyerGuides.com publishes articles about mental and emotional health covering communication, marriage, and family issues. These articles, written by Alice Goldstein a mental health professional for over 25 years, are written specifically to address the unique situations Baby Boomers and their families can expect to face in their lives.
Interesting Stats on Baby Boomers, Their Wealth, and Their Spending Habits:
- Born between 1945 and 1965, Baby Boomers are currently between 56 and 74 years old.
- Baby boomers are the United States’ wealthiest generation, with a combined spending power of over $2.5 trillion.
- Baby Boomers are spending more and more of what previous generations would have protected as their children’s inheritance, opting to spend some of their money on themselves rather than leaving all of their accumulated wealth to their children.
- Online shopping is popular with Boomers and although marketers have been slow to take advantage of the opportunity to serve the group, they are starting to more effectively focus on reaching out to Boomers.
- Spending on luxury items like automobiles, jewelry, and real estate and home improvements are more popular with Boomers than they were with previous generations.
- Leisure travel has been a beneficiary of Boomer spending, with the generation now taking around 4 to 5 vacations per year and spending over $120 billion on domestic and international travel.
- Boomers also spend a sizeable amount of their money on things that will lengthen their lifespans like health and fitness products.
- Baby Boomers are living longer, healthier, and more active lives than previous generations, and since they have the resources to support it, they are able to age wherever they’d like.
- Since they value their independence, they are not in any hurry to move into senior living facilities and instead they are renovating their current homes to make them perfect for the long term.