The Baby Boomer generation describes the population of 79 million people born in America between 1946 and 1964, the product of a boom of families that began after World War II ended inGBIS AgingAmerica 1945, when thousands of soldiers returned home to get married and have children. As the Boomer children began to reach adulthood in the 1960's, their generation was said to have changed the world. As they now reach the age of their 60's, they are shaping another kind of revolution. 

Since 2011, when the first of the Baby Boomer generation began turning 65, the result of this aging demographic has been creating a drastic change to the composition of our country. According to a 2016 US Census Report, there were more than 49 million Americans aged 65 or older, and it is estimated that 10,000 more will reach age 65 every day until the year 2030. 

This trend, dubbed "The Silver Tsunami," is shaping everything from the retail enviroment to health care, housing and you guessed it - insurance needs and financial planning. As insurance agents, we are tuned in to the impacts of this mature market on our current and future generations as "Graying in America" occurs.   

The insurance industry has long recognized the changing needs of mature Americans and responded by introducing new or modified products including long-term care insurance, Medicare supplements, second to die insurance, living benefits riders, universal and variable policies, fixed and indexed annuities and other solutions.

At Great Bay Insurance Agency, we offer all of these products to serve the life changes occuring with our older clientele, and we also work with our younger population to help them care for aging parents or prepare for a future where retirement entitlements are uncertain. 

SocialSecurityBenefits2NobleCE, an educator for the insurance industry points out, "The age wave will crunch progams like social security and Medicare in the early decades of the 21st century. Why? Becuase the number of workers supporting retirees will plummet from 5 in 1990 to only 2.5 by 2030. And these markets are living longer, making the problem long term."

We have a great deal of respect for the Baby Boomer generation, who were raised with an ethic for saving, scrifice and hard work. We also respect the ideals of the up-and-coming generations, who watched those same Boomer parents work their lives away and take little time for themselves. We know today's workforce is striving for work-life balance and worry that an eventual retirement on their own terms is at risk. We're here to tell you that with the right guidance and proper planning, there is no reason you can't be well-prepared for golden years that are defined by your empowerment, rather than being dependent upon your entitlement.

Sometimes taking the first step in taking charge of your financial future seems the most daunting. Where to begin? Whom to trust? What do I need? What many people do not realize is our agents have the knowledge and experience to help assess your total finanical situation. We work with people in all stages of life to evaluate their needs and present solutions to create a solid financial foundation. 

Every situation is unique and the decisions you make must also be unique to your personal needs. We start with a free consultation, an in person conversation at your convenience, to understand your present circumstances, financial postion and your short-term and long-term goals. From here, we identify gaps in your overall plan and provide tailored options within your budget for consideration. Again, there is no cost or obligation for our consultation.

Since it costs nothing for a conversation, why not schedule your personal evaluation? Call us at 603.743.4247 or reach out online to arrange your appointment today!

Your Great Bay Insurance Agent, 

Sandy Salava 8x10