One of the compelling reasons why I attend the annual conference of the Financial Planning Association is to avail myself of the opportunity to share ideas and concepts with many of my fellow CFP designees. This year was no different and one session in particular, presented by my long time friend, colleague and fellow MDRT member, Phil Harriman bears sharing with all my readers. His topic was a concentration of the unique challenges facing Baby Boomers in retirement. Never before has there been a phenomenon the Baby Boomer generation and there is little chance of anything it occurring again in our foreseeable future. Every day, according to census records, some five to eight thousand Americans awaken to their 60^th birthday… adding to the already 75 million plus Boomers that are in or beyond the “Retirement Red Zone”… the five year period before and after the stoppage of work income.

Boomers perhaps need to come to grips with the enormous power they hold as a demographic. Boomers have literally created and transformed industries as they have moved through the timeline of society. As babies and later children we created the ready made food dynasties of Gerber and General Mills. As teens, we underwrote the explosion of MacDonald’s, Burger King and White Castle. As young adults, our rebellious free-spirits gave support to Honda & Volkswagen and as we became more health and exercise conscious it was Boomer dollars that made Nike and other fitness companies what they are today. What’s next? Who knows… but Boomer Bucks are certainly a force to be reckoned with.

Boomers have shifted their priorities from “becoming” someone to “being” someone. Boomers believe… despite mortality tables showing the autumn of their lives… that they are at a “mid-life”, with many beginning second or third careers. Boomer-living is giving many the opportunities to be what they always wanted to be and do the things they always wanted to do if that hasn’t been the case until now. Relationships are taking on a whole new importance.

Boomers, for the most part, know what they want from the rest of their lives… they just may not be sure how to go about securing it. We’ve managed to hold on to our dreams – both personal and professional. Our entrepreneurial spirit has grown along with us. We strive more than ever to be the masters of our own destinies. In large numbers we seek out those who can help us achieve those dreams. Boo...