With the Baby Boomer Generation reaching retirement age, the market for products and services catering to seniors is growing. According to the AARP, more than 58 million seniors are now in the U.S., projected to increase to more than 98 million by 2060. This represents a substantial opportunity for investors to get in at the ground floor of companies that are ready to take advantage of this demographic shift.
There are a few reasons investing in companies selling products to older people is a wise move. First, seniors are typically wealthier than members of other age groups.
They have had time to build wealth throughout their careers and typically have generous retirement packages and pensions. This means they have more significant disposable income to spend on products and services that enhance their quality of life.
Second, seniors are becoming increasingly vibrant and involved. They live longer, healthier lives and want to make the most of their golden years. This includes traveling, hobbies, and spending time with family and friends.
As a result, they are more likely than other age groups to invest in products and services that will make their lives easier and more enjoyable. Third, seniors are well-versed in technology. They grew up at the dawn of the PC age, and they have been adopting new technologies for life. This makes them a perfect target market for companies selling new, innovative products that will make their lives easier.
For instance, older adults are increasingly using tablets and smartphones to keep in touch with loved ones, keep active on social media, and keep up with current events. Fourth, seniors are an emerging market segment. The number of seniors is expected to double in the next 40 years.
This represents a substantial growth opportunity for companies catering to this demographic. Senior citizens are already one of the fastest-growing markets for tourism and leisure products. As more boomers retire, that trend is expected only to accelerate.
For several reasons, investing in companies that market products to older people are wise. Seniors are typically wealthier than other age groups; they are increasingly active and involved, are technology-savvy, and are a growing market segment. With the Baby Boomer generation reaching retirement age, it is a great time to be on the ground floor of this growing sector. Are you looking for stocks to invest in senior care?
If yes, you should take a look at the GPS industry like Sobr Safe Inc (NASDAQ:SOBR), Stoneridge, Inc (NYSE:SRI) and MetAlert (OTC:GTXOD). They are a company specializing in developing products and services to help seniors remain healthy and independent.
MetAlert’s GPS SmartSole products are helping us keep our loved ones safe. So, if you are looking for an investment that makes a difference in a senior’s life, Metalert is well worth considering. Metalert is traded on the OTC markets.
Featured: $SOBR $SRI $GTXOD