Baby boomers retire in Bali
Bali 20/11/2003 
The Baby Boom generation born between 1946 and 1964 has long commanded the attention of demographers, politicians, marketers, and social scientists. Representing approximately 33 % of western countries’ population, Baby Boomers represent the largest single sustained growth of population in the history of the world. 
As the oldest of the Baby Boomers, now 58, approach retirement, it is important for Bali businesses to focus on products and services they will desire over the next two decades. They not only represent the largest segment of the population but also control over 50 % of the world’s wealth.  What is
this massive demand going to desire in the future? Here are just a few of their wants according to information provided by the American Association of Retired Persons. Baby Boomers envision a very novel type of retirement. The survey finds that most Baby Boomers believe that they will still be working during their retirement years. Therefore, they will be interested in cottage industries or perhaps internet related work that will allow them to work when they want, without stress,
and with lots of free time for recreation and travel. The survey provides insight into other ways Baby Boomers expect to define their retirement years. Close to half (49%), say they expect to devote more time to community service or volunteer activities during retirement. In Bali, this involvement could lead to better schools, better sanitation, and eco-awareness to the betterment of all who live in Bali. More than seven in ten Baby Boomers (73%) say they expect to have a hobby or special interest that they will dedicate a lot of time to when they are retired. Bali’s golf courses, tennis courts, and ocean sports activities will surely reap huge benefits from these retirees who have more time to enjoy the better things in life. Fully seven in ten Baby Boomers say they do not want to depend on their children during retirement. It is worthy of note that the largest group to emerge from the segmentation analysis is characterized by
self-reliance. The "Haves," those at the high end of the household income scale have household incomes of US $70,000+ (25% of the total sample) Compared to other generations, these confident and independent Baby Boomers admit that: They need more money than their parents' generation to live comfortably. Their generation is more self-indulgent than their parents’ are. They will be
healthier and live longer. The increase in Baby Boomers who live in Bali will provide ample monetary incentive for hospitals and medical services to improve their quality and provide excellent medical in Bali. There is an exodus out of retirement toward phased retirement. Certainly, not all of this is by choice. Some seniors have been forced back to work by financial need. However, many are healthy, enterprising people who eschew the notion of an idle retirement. By 2015, estimates the National Council on the Aging, 20% of the U.S. work force
will be over age 55, up from 13% in 2000. Baby boomers are great news for Bali’s ailing travel industry and for Bali's real estate demand. The Indonesian immigration service now allows Baby Boomers 55 or older to obtain a long-term visa lasting for up to eight years. Some of the requirements of this visa art that those seeking it must invest a
handsome sum into the Bali economy. They also must employ Indonesians, which will help alleviate high unemployment. Now baby boomers can sell or rent their homes in the west and live like kings and queens in Bali. Not only can they enjoy great weather and warm friendly people but also many luxuries that they never envisioned possible before such as “Live-in Maid and Cooks” for only $50 per month. and daily massages for $5.00.  An abundance of fresh fruits and vegetables at 80 % less than home. Restaurants, health services and entertainment at a fraction of what they are used to paying. Bali will be very similar to Maui, Hawaii in the sixties when retirees from North America, New Zealand, Australia, and Japan purchased homes and villas for retirement and investment. A foreigner can sell their 1200 sq. ft home for $200,000 and build 5-6 homes of the same size in Bali. The rental income from these homes will provide not only a great retirement plan but also a source of pleasure to keep the mind and body active in retirement. These new retirement homes can be part of a complex, which include sports, and activities that will cater to the retiring Baby Boomers.
 Merry Christmas
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