THE INTERNET IS GROWING UP…CAPTURING THE ATTENTION OF OLDER AMERICANS 

Ever since Neilsen/Net Ratings announced that the number of adults 55 and over that actively use the Internet is about the same as the number of 18 to 34’s, alert operators have begun to pay real attention to seniors and the older baby boomers who are rapidly joining their ranks. 

The boomers come with years of familiarity with computers, forcing hi-tech investment gurus to reconsider their preoccupation with just teens and young adults. The 50-plus market is growing daily. The U.S. Bureau of Labor Statistics reports that boomers are reaching age 60 at the rate of one every seven seconds.   

Before I targeted my latest book The Writer Within You to retirees, my own research confirmed the fact that the antiquated view of seniors spending their days on the golf course, at the card table or just lounging about was no longer the reality.  

I was so impressed by what I discovered that I began to use the catch phrase “Old is getting younger everyday” in many of my promotions. Today’s dynamic older crowd is generally eager to tackle new challenges and fulfill the dreams long harbored but not realized because the responsibilities of family and career took precedence.  

Use of the Internet by seniors is growing at the rate of 9 percent a year, Forrester Research states. Even more impressive, 46 percent of those computer literate Older Americans go online daily, according to Internet.com. The Pew Internet and American Life Project reveals that online shopping by the senior population is growing faster than shopping by any other age group. 

Is it any wonder that the venture capitalists who reaped such success from their investments in the burgeoning social networking market that caters to the younger set are now setting their sights on the vibrant graying generations. Making investment even more attractive are the findings that oldsters are much more loyal than the younger set that is known to constantly switch allegiance from one site to another. 

The New York Times recently reported that tens of millions of dollars are now being dedicated to financing social networking sites for seniors and boomers. So watch out My Space, You Tube and the many others. Competition is booming.      

Setting the Aging Record Straight

Here’s a bit of news for all those naysayers who try to tarnish the image of the Golden Years. We seniors know better, and now a survey has been published that reinforces our belief that the Golden Years can really shine, if used productively.

With more free time, years of past accomplishments to call upon and far better health than previous generations experienced, seniors have every reason to be happy...and they are. 87 percent in their sixties and almost 90 percent in their seventies told an HSBC study that they were happy most of the time during the previous week. That contrasts with just 78 percent of respondents in their forties.

As my latest book suggests, writing is one of the best ways to stay alert and productive in those later years and keep that smile on your face. Pick up a copy of The Writer Within You. It will guide you through all the steps necessary to writing and publishing your book in a variety of genres.

AARP STUDY REVEALS THE HIGH NUMBER OF 401K

PARTICIPANTS WHO DON’T UNDERSTAND THEIR FEE STRUCTURE

The recently released survey reports that 83 percent of 401k members know very little about the fee structure and the expenses associated with their plan. Conversely almost 80 percent of others who actively make decisions about their investments consider the fee structure quite important.

Oddly enough, even those who pay little or no attention to these costs admit that they can have a significant impact on the returns from their investments. When asked where they felt the responsibility lay for ensuring they understand the plan’s fees, approximately one third stated it was the employer’s, while a little less than a third claimed it was the responsibility of the financial service company that administers the plan. Only 28 percent felt it was their own obligation.

I guess that proves the old adage "easy come, easy go."

LAUNCHES OF NEW PRINT MAGAZINES FALL WELL

BEHIND LAST YEAR FOR THE FIRST SEVEN MONTHS

The first seven months of this year have seen the arrival of only 378 new print magazines, far below the 607 titles that were launched during the same period in 2006.

The big question experts are mulling is whether the fall-off represents competition from the Web. We know that newspapers are suffering and seeking ways to offset the impact of their digital competitor. But several recent studies have indicated that while younger segments of the population were turning to the Web for their current daily news, they preferred to read print magazine for the richness of their content. 

The question now is whether this is a temporary glitch or a situation in which the magazine industry will continue to suffer the way its close print relative has. Only time will tell.

The Senior World
SENIOR VOLUNTEERING

I thought this information might be appropriate following the listing above of the Purpose Prize.
A survey conducted by AARP reports that 51% of adults 45 and older volunteer for school, religious, charitable and other non-profit organizations. 36% participate in community service in a variety of non-traditional ways.

The Current Population Survey (CPI) reports similar findings with 30.7% of adults aged 50-64 and 24.8% of folks 65 and older actively volunteering.

When asked why they volunteer, the highest number (65%) stated they felt a personal responsibility to assist others.  Helping their communities, making a difference, remaining active and a desire to make life more satisfying were important motivations as well. Religious organizations were by far the top magnet for volunteers. Educational, youth programs, community and health service followed.

Here’s still another fascinating trend. A “senior tsunami” was predicted by experts at the Brookings Institute with the growing senior population in suburbia setting the aging pace across the nation.  This trend is rather remarkable since these communities, traditionally characterized by vibrant, young families and soccer moms, will age faster than urban areas, according to the recently released report.

The growth in the burbs is not occurring because of a migration of the elderly to the land of green grasses and two-car garages. It is the result of the graying of the Baby Boomer generation, many of whom have, and still are, raising their families there.

But the trend is not quite that simple, the experts point out. They anticipate a movement of higher income, better educated seniors to urban centers, both metropolises like New York, Chicago and Los Angeles and smaller cities throughout the country.

Although the Sunshine State continues to be a preferred haven for retirees, the report predicts that the next two decades will see Georgia and Arizona experience the greatest growth in senior population, while New York and Pennsylvania will post the slowest.

Oh, those Baby Boomers. They certainly are changing the nation’s status quo!

In a study of prescription drug costs for the years 1997 through 2004, the U.S. Department of Health and Human Services reported last week that average out-of-pocket costs more than doubled from $483 to $1,027. These figures do not include senior living in care facilities.

The report, issued by the Agency for Healthcare Research and Quality, a division of HHS, stated that total outlays for medications jumped from $72 billion in 1997 to $191 billion by 2004. That breaks down to an average increase from $819 per person to $1,914, an increase of 42-plus percent. It represents a jump of 1 billion in the number of purchases of outpatient prescriptions. The average 65-plus American increased the number of drug purchases from 22 to 31 over the reported period.

No matter what the issue, mirrors and gimmicks always seem to veil the truth along the Beltway. Last week, the Senate passed authorization for the safe and legal importing of prescription drugs from foreign countries, a controversial, but badly needed move, that has been bandied around for years. However, before this much-needed change could be implemented, an amendment was passed that undermined its value.

In an obvious effort to block the program, the amendment prohibits these drug imports unless the Secretary of Health and Human Services certifies that they are safe. Once again the Bush administration and its legislative allies protected their major campaign donors at the expense of Mr. and Ms. Joe Taxpayer. They moved swiftly to shield the pharmaceutical industry from competition that might reduce their astronomical profits and the size of their donations to the politicos.

Blocking drug imports places a particularly onerous burden on seniors on fixed incomes who find it impossible to meet their financial obligations because of the sky-high cost of their prescription drugs. Prices for brand name drugs in the United States are among the highest in the world.

Now it's up to the House of Representatives to correct this sham. We'll soon see whether they have the guts to do it. 

Eons.com, one of the top web sites for Baby Boomers and Seniors, conducts a running survey of their thousands of subscribers that asks respondents to list their most important Life Dream. In the number two slot of the 100 Top Life Dreams is “Writing a Book.” Only “Losing Weight” outpolled it.

It’s not too late to “join the party.” Reread the featured article in this edition “Join the Writing World,” and get moving. With the flexible schedule retirement offers, it should be easy to find the minimal amount of time it takes to see your thoughts morph into printed words and become articles or books for the world to enjoy.