How the 'longevity revolution' will impact financial services.

• Position: ABA Resources

America is in the midst of a longevity revolution that wilt impact tomorrow's financial services industry, according to Mark Goldstein, an authority in the field of aging and its implications for business and the marketplace. "The single greatest achievement of the previous century was the addition of 30 years to human life," says Goldstein.

Goldstein, who is co-founder of the Impact Presentations Group, San Ramon, Calif., is one of the speakers of interest to marketers who will appear at the ABA National Conference for Community Bankers, Feb. 9-12, at The Westin Diplomat Resort & Spa, Hollywood, Fla.

According to Goldstein, the longevity revolution is actually three demographic shifts in one:

The Senior Room. The fastest growing segment of the American population is the senior segment, 65 and older. The senior population is growing at three times the rate of the general population. America now has more senior citizens than Canada has total population. The United States wilt double its current senior population by the end of the first quarter of the new century, from about 34 million today to nearly 70 million by 2030.

The Birth Death. During the 1960s, the U.S. birthrate dropped, creating a baby bust. Because of this, we experienced a drop in the number of 18- to 34-year-olds during the 1990s. This segment lost 9 percent of its population during that decade. This demographic shift has caused the American marketplace to refocus from youth and onto maturity. The marketing campaigns that targeted the 18- to 34-year-old consumers now must target 40, 50 and 60 plus consumers--especially when you consider that over three-quarters of all the financial assets held in America are held by people over 50.

The Aging Baby Boom. The largest of all U.S. generations is the baby boomer generation: those people born between the years 1946 and 1964. There were 76 million Americans born during those years. The baby boom generation is unique in more ways than just size. They were they first generation of Americans born "into the limelight." Prior to this, children were in the background of American life. It was the World War II generation that had survived the Great Depression who made a promise to their baby boom children when they said, "Our kids aren't going to have to go through what we did."

Boomers became accustomed to the limelight and never left it. Because of the sheer size of this generation, boomers have created economic booms in each of the life...