THINKING ABOUT OUR MARKET AND HOW TO TAP IT. L. Carlos Lara

BABYBOOMERS SIGNIFICANT TRAITS: Born after 1943—Currently 76 Million Americans (All those over age 50) Think of themselves as a “Special Generation” Control 80% of personal financial assets. Responsible for 50% of all spending. Started retiring during (in the midst of the 2008 Financial Crisis) 60% lost value in Investments 42% are having to delay their retirement 25% claim they will never retire FINANCIAL FEARS AND WANTS: May outlive their savings. Afraid to loose their Money. Want and need “income,” “safety,” and or “guarantees.”

THE X GENERATION SIGNIFICANT TRAITS: Born between (All those age 34-49) 50 Million Americans Known as “The MTV” generation. The neglected “middle child.” Bookended by two much larger generations—Baby Boomers and Millennialls. They are less distinct as a generation and they know it. Feel the future was given to their parents. Everything appeared “second – hand.” Grew up in a period of emerging technology (first lap-tops, cell phones), have witnessed a lot of political and institutional incompetence (From the Viet Nam War to Clinton-Lewinsky, etc.) Spent less time with parents (“latchkey kids”) while their parents worked. Divorce was common. Were not coddled. Are Self reliant. Have gone through more economic upheavals than all other generations. Many of the females have eating disorders.

THE X GENERATION (cont’d) First to be told they would not replicate the lifestyle of their parents. Are generally more pessimistic about the future. Technically competent. Skeptical. Savvy. In marriage generally only one partner works full time, but have the discipline to save and want to. Delayed marriage due to a crowded job market caused by baby boomer women going into the workforce. Divorce and child custody problems are common issues. FINANCIAL FEARS AND WANTS: May not be able to save for retirement. Struggle with discretionary income due to many of them being a one-income family, price inflation and a tight job market.

MILLENIALS SIGNIFICANT TRAITS: Represent 80 million Americans born between 1980 and Ages Linked to the year Bigger generation than the “Baby-Boomers.” The future of America is in their hands. Often referred to as “Trophy Kids,” because of their high participation in sports. Makes them optimistic, engaged and ideal team players. High use and familiarity with communication, media and digital technologies. Makes them feel that they have the upper hand over all those over age % own cell phones. Exceptional at multi-tasking, are clever and resourceful. Optomistic-49% believe the best years for the U.S. are ahead. Desire to make the world a better place, but will require building new institutions. Enjoy networking with friends-have a deep sense for community, but are less likely to practice organized religion. Much more liberal attitudes with regards to social issues such as “same sex marriage,” but less supportive of “abortion.” 75% consider wealth a very important attribute, but do not consider keeping up with political affairs as relevant to its achievement.

MILLENIALS (cont’d) Generationalists see problems with the millenial’s perspective. They grew up with high expectations that they will automatically win by just showing up. For this reason they will change jobs more frequently than other generations. The 2008 financial crisis has impacted and threatens their hope for the American Dream. There is exceptionally high un-employment in their age group and high college debt. They have delayed the traditional rites to adulthood, moved back in with their parents and were tagged as the “Boomerang Generation.” Have been forced to be more economical and do not see themselves as becoming homeowners or buyers of cars like their parents. See the Internet as their financial escape route and have an entrepreneurial spirit detached from traditional institutions. FINANCIAL FEARS AND WANTS: May have to create their own jobs. Desire to get out of debt, “save” and accumulate wealth. Be economical and smart. Many want to start their own business.