Canadian Younger Baby Boomers
This group has a median age of 60, a median income of $90,000, and is most likely to live in the suburban communities of Ontario and Quebec. Younger Baby Boomers are on the cusp between work and retirement, enjoying life both at home and in the office. In their personal lives, Younger Baby Boomers enjoy watching movies with the family, gardening, home renovation/remodeling, and taking family vacations. At work, they enjoy being part of a workplace team, prefer a direct, face-to-face communication style, and are comfortable making decisions “in the moment.” Saving money for the future in order to plan for an active retirement is a priority for this segment. More than one in five Younger Baby Boomers works with a financial planner to assist them with their investment options. Understanding a need to keep healthy, this group focuses on being outdoors and walking as a primary source of exercise and on maintaining their weight and diet to promote a healthy heart and lifestyle. Nearly nine out of ten own their own home, which has an average value of $350,000. In addition, they have a strong line of credit and investment assets with a median value of $300,000. They are likely to use Mastercard over Visa for their credit card purchases.