BACK • 
The Internet is Not Just for the Young
The Internet continues to grow by leaps and bounds. It is becoming almost all -pervasive in our economy. You can buy a car, get a mortgage, plan a trip, and yes, even buy stocks, without leaving the comfort of your home, all on the amazing Internet. It's hard to believe that just a few years ago, before Al Gore invented it (ha!), we actually got along without it. One of the big mistakes that people make is in thinking that the Internet is really the land of the young, that the over-50 set is left behind by this new technology.
It turns out that nothing could be further from the truth. In fact, notes Investors Business Daily, computer clubs, rather than ceramics and shuffleboard, have become a major occupation of residents in retirement communities.
According to Jupiter Communications, in the next five years nearly 195 million, or 68% of our total population, are expected to be Internet users. Adults aged 50-64 will account for more than 32 million of that group; if you add in the 65 and older set, the number increases to close to 50 million, or more than 25%. Over the next five years it's expected that the number of people using the 'Net over age 65 will triple. Astonishingly, during the same period of time, the 35-49 age group is actually expected to fall from 29% down to 24%. I'm not sure I understand why that would be, but those are the statistics.
So, if you are over 50, and haven't yet gotten into the world of PCs and the Internet, what's stopping you? The Internet can educate, entertain, and save you some money along the way. It will make you a better, smarter shopper, and maybe a more well rounded person. So, what are you waiting for?
On a personal note: My wife's parents, are big Internet users. After my father-in-law retired at 65, they both decided they wanted to learn about the Internet. They attended some classes and bought a computer. That was 6 years ago. Today, they have two computers-- after all, there's no sense in squabbling about computer time, is there? My mother-in-law plays bridge on the Internet with two ladies from Belgium, and another from France. My father-in-law buys stamps from a dealer in Hong Kong. It's great fun for them, and I think it keeps their minds young and active.
The bottom line on all of this is that the Internet is just BIG, and will get nothing but bigger. Don't let age be an excuse for a self-inflicted handicap!
Staying with the Internet a moment longer, New Media Services, and Media Metrix, two 'Net research firms, say that more shoppers were buying online this year for the back-to-school season. This survey found that 90% of college students and their parents planned back-to-school shopping, among that group 28% of the students and 26% of the parents, said they plan to do their seasonal shopping online. Of all the back-to-school shoppers using the Internet, 58% of the parents and 55% of the college students said they will buy more this year than last. Not too surprisingly, apparel, textbooks and general supplies were the likely leaders in sales.
In the meantime, taking a quick look at the economy . . . the news remains fine, especially on the inflation front. A little over a week ago, and reporting for the previous month, both the Producer Price Index, which is the old Wholesale Price Index renamed, and the Consumer Price Index, came in with lower inflation numbers than Wall Street had expected. Those numbers may jump a little this month, because once again, gasoline prices are on the rise, but overall, most Wall Street gurus feel that the inflation genie is "still in the bottle," and that the Federal Reserve will not be raising interest rates. As for the upcoming meeting in a couple of weeks, I think, again, they will do nothing, but will wring their hands, and say they remain vigilant and worry about the possibility of inflation-that's okay, the point is, watch what they do, not what they say; Wall Street may be in for one of its traditional yearend rally modes, which we'll talk more about later, remembering that the months of November through January historically are the best for Wall Street.
(Tom Butenhoff is a First Vice President with J. E.
Liss & Company in Milwaukee. The views are his and not necessarily
those of Liss Financial Services or the Job Connection/Hiring
Network.)