10,000 new customers a day

I read in my local paper this morning that, starting in January, 10,000 baby boomers a day will turn 65 and that this will happen every day for the next 19 years. Wow! That’s like getting 10,000 new customers a day for the next 19 years. The same article pointed out that the boomer generation, while it was quite innovative in many ways and changed our society in many ways, has not proven to be very good retirement savers. I’ll bet that many of them are also setting in McMansions that are currently worth much less than when they bought. However, a good number are probably still in that 1970’s or 80’s home that they bought and, even though it is worth less than a few years ago, they can afford to sell it and move on to a retirement home.

We’ve all been waiting for this tide of new potential clients to come in and it starts next year. Our work is cut out for us to help these new retirees understand the market dynamics of taking the paper loss on their current homes in order to get a good deal on a new, retirement home. Hopefully out of the 10,000 a day number there will also be a few that really did save properly for this time and can now act on their plans for retirement. I suspect that more than a few will just heave a heavy sigh and continue working, once they see that they don’t have enough saved to retire and once they find out what their home nest egg is worth on today’s market.

This is a potential market that I can get my arms around. I didn’t get into the foreclosure side of our business and haven’t really done many short sales, but helping retirees figure out what to do and what they can do with what they have I think I can help with. For one thing, I’m a little older than them and I’ve been “retired”, so to speak, for a couple of years now (even thought I work at two jobs pretty much full time). At least I can relate to the age group, to the things that we’ve been through and hopefully to the things we are looking ahead to doing.

So, I’ve got to run now, because I have 10,000 new clients to get ready for in January. Whew! I’m going to be busy.