Friday, November 16, 2007

Ameriprise and Boomers and Money

Ameriprise Financial released a new study called Money Across Generations (SM), trying to make the case that now is the time Boomers need to talk to their own adult children about the family money, retirement plans, and other financial issues.

Like most corporate research, this is a case of the study findings supporting the business goals of the sponsor. Ameriprise wants Boomers to come to them for financial planning. The findings here suggest those who plan are better off than those who don't (what a surprise).

This week, social networking site for 50+,, released another self-serving "study" of Boomers. This time about Boomers and sex. Of course, the press release positions the findings as representative of all Boomers, when in fact the study was only done among those Eons members. Whether you talk to 100 or 10,000 Eons members, you're not talking to a random representative sample of all Boomers. That's marketing research 101 stuff and Eons ought be be ashamed of themselves for misrepresenting their study.

Our caution to anyone out there getting excited about "national studies" is to be sure to take into consideration who is behind it. Many times, their agenda is showing.

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Valuable Insights into the Hearts, Minds and Wallets of Today's Baby Boomers

This blog is by the authors of Boomer Consumer: Ten New Rules for Marketing to America's Largest, Wealthiest and Most Influential Group, on sale now.

Here is where you'll find information referenced in the book, as well as updates, news and perspectives from Matt Thornhill and John Martin, founders of the Boomer Project.