A fascinating piece of research from PEW.. They cover the Demographic transformation that is happening in the US right now, both of which will impact Financial Services well into the future. On one hand the population is becoming non-white and at the same time it is getting older.. Some more sound bites below..
10,000 Baby Boomers a day will turn 65 – every single day between now and the year 2030. In 1960, the population of the United States was 85% white; by 2060, it will be only 43% white. We were once a black and white country. Now, we’re a rainbow. Millennials have voted more Democratic than older voters in the past five national elections. They came of age in the Bush and Obama eras and hold liberal attitudes on most social and governmental issues, as well as America’s approach to foreign policy. Today’s young are history’s first generation of digital natives. The online world isn’t something they’ve had to adapt to — it’s all they’ve ever known, and it’s their indispensable platform for social interactions and information acquisition.