How Baby Boomers are Bridging the Generation Gap
Welcome to The Nancy Ferrari Show! In this episode, I introduce you to my featured guest, Lori K. Bitter, publisher of GRAND – the digital magazine for grandparents. She is also the Co-Producer of The What’s Next Boomer Business Summit and The Silicon Valley Boomer Venture Summit. Lori provides strategic consulting, research and development for companies seeking to engage with mature consumers at The Business of Aging. She is also the author of the book, “The Grandparent Economy: How Baby Boomers are Bridging the Generation Gap” which was released in September 2015.
Lori is the former president of Continuum Crew and Crew Media, owner of Eons.com. She was president of J. Walter Thompson’s Boomer division, JWT BOOM, the nation’s leading mature market advertising and marketing company and led that firm’s annual Boomer marketing event for five years. Prior to that she led client service for Age Wave Impact.
Lori has more than 30 years of advertising, public relations and strategic planning experience.
She is the contributor to five books on aging consumers. In addition, she is a leader in research on topics relevant to the senior and boomer population. Lori was recently featured on American Marketing Association’s blog, AARP Magazine, in the Los Angeles Times, on CNBC, Forbes magazine and named to Entrepreneur Magazine’s 100 to Watch List. She holds a MS in Advertising, and is a former Associate Professor of Advertising and Public Relations. She serves on the Leadership Council of the College of Media for the University of Illinois.
A sought‐after speaker, Lori has presented research, trends and analysis about mature consumers and the longevity marketplace to more than 200 conferences and events in the United States, the United Kingdom and Europe.
Within Lori’s book “The Grandparent Economy: How Baby Boomers are Bridging the Generation Gap”, we expanded on how family dynamics have changed, especially since the recession of 2008. More parents with children were in financial support from their parents and within the last decade, there are more multi-generational families living under the same roof. With that comes more opportunities for connections within the family dynamic. It also presents some challenges, such as boundaries for filling in the financial gaps.
Lori’s research is compelling and shared a few facts of importance:
* There are over 80 million grandparents in the United States, and 1 out of 3 baby boomers are grandparents.
* The squeeze on the Boomer generation has tightened. They are now taking care of their elderly parents in addition to grandchildren, whether living together, or providing financial support.
*There are more Boomer women working than previous generations. They are more vital and active as health and wellness are of importance within their lifestyle.
Lori also shared the need for communication between the generations, especially when grandparents are raising grandchildren and legal systems need to be implemented. She provided resources such as www.grandparentalienation.org and www.generationsunited.org to provide assistance.
Grandparents consider legacy very important. Research shows that education and contributing to grandchildren’s education is an important part of legacy. Culturally, we are gravitating to an “old-fashioned” approach to living together, or in close proximity, and want to be in our grandchildren’s lives. As boomers, we are bringing our own experiences and values to that equation, changing the role of grandparents forever.
To learn more about Lori Bitter, in addition to her work within The Business of Aging, please visit her at: www.thebusinessofaging.com
Twitter: @loribitter and @businessofaging
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