Baby boomers hang on to youth

By Bina Brown
For CNN

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(CNN) -- Wonder drugs and surgery without pain, clothes that make them feel younger, a new car and household goods that last.

These are just some of the things the baby boomer generation is expected to demand as they do what they have always done: revolutionize every era they have been a part of.

Often referred to as the "me generation," the "boomers" (generally considered to be people born between 1946 and 1964) are preparing to leave the workforce and really enjoy life before old age takes hold.

For those boomers who own their home, the growing number of equity release products could help finance the next 15 years, though their children shouldn't count on a big inheritance.

"These people will do whatever they can to cheat their years," predicts Neer Korn, a director of social research company Heartbeat Trends.

"They will be quite well off. Having gone through the frugal years of paying off their home and child rearing, they will spend money on anti-aging processes and products -- anything that makes them feel as young as they think they are," says Korn.

One of the first things that should go is the stereotype of aging.

"Don't tell a baby boomer they can't wear jeans in their 70s and 80s," says Korn.

Naseema Sparks, managing director of advertising agency M+C Saatchi, agrees.

"Don't think of gray haired couples driving with a dog in the back seat of the car. The main thing is these people don't believe they are old. They see themselves as being extremely youthful. They are younger and fitter than anyone else, whether it is actually true or not," she says.

For marketers that means getting into a "mindset" rather than a "demographic."

The challenge will be marketing -- like insurance for the over 55s -- to people who refuse to acknowledge they are in that age bracket.

Independent living

For investors looking for opportunities, some can be found among companies making products that help people live longer and live independently.

"(These include) any anti-aging processes and products such as surgery and transformation procedures to help them cheat the years," says Korn.

"They want independence and so are going to want to modify their homes to accommodate them as they get older. Think about all those tools that make things easier, like opening jars and mobility."

They are going to want to travel, but will want some luxury to go with it.

"Think of them as travel experiences and adventure, rather than tourism, at a three-star level. If there is camping involved, it will be somewhere where the tent is already set up," says Korn.

"If they go touring they will want a four-wheel drive with a physiotherapist back support seat," he says.

When the boomers buy furniture or appliances for the home, expect them to pay for quality products that will last them out.

Craig Flanders, the principal of advertising agency Spinach, says builders and retailers of whitegoods and new and used cars will do well out of the baby boomers.

Equity release products such as reverse mortgages are expected to be a popular source of finance, which will be spent renovating and upgrading the appliances in their homes.

A new or used car is also high on people's list of priorities.

Daniel Burke, business manager for Mariner Financial's equity release product, believes baby boomers are the ideal recipients of reverse mortgage products, which are essentially a loan that allows seniors to borrow against the equity in their home.

"Baby boomers are much younger bodied than their parents, have only had compulsory superannuation (in Australia) since 1992 and are going to be an under-funded demographic when they move into retirement.

"Reverse mortgages can be structured to create an income stream until they die, depending on the value of their property," he says.

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