3 Great-Paying Jobs Experiencing High Growth – Thanks to Baby Boomers

As boomers age, they will need a wide array of services that can be met by lucrative jobs like these

Jun 7, 2014 at 11:31AM

Flickr / Andreas Klinke Johannsen.

An aging baby boomer generation is leaving is mark on the world of work – and not just because of the large numbers reaching retirement age every year. Boomers are creating new markets as they grow older, and those looking for good-paying careers with staying power would do well to check out which services they will want – and need – over the next few years.

Here are three specific employment opportunities that will experience higher demand as baby boomers age – the majority of which, not surprisingly, are in the health care field. If you are concerned that geriatrics isn't for you, note that all of the following services are applicable to all age groups; it is the growth potential, for the most part, that is supplied by aging boomers.

You'll need a master's or doctoral degree for this job, and a license to practice in the state where you plan to work. Though all age groups are within the scope of audiology, older persons often develop hearing problems, which makes this an occupation primed for growth.

Audiologists assess and treat hearing disorders, as well as problems with balance, communication, and other issues affected by hearing difficulties or diseases of the middle or inner ear.

According to the Bureau of Labor Statistics, the 2012 median pay for audiologists was nearly $70,000, and the growth rate is predicted to be very high, around 34%. Since the occupational sector is fairly small, the increased demand may impact the salaries paid, edging them upward over time. 

Physical therapists
The aging process can produce many physical limitations, and the high activity level of boomers is expected to push the need for physical therapists to all-time highs. With a doctorate degree, you can expect to earn at least $70,000 annually. Like audiologists, physical therapists also need licensure to practice in each state. 

If seven years of college is too daunting for you, physical therapy assistants are also in demand, with an expected sector growth rate of 41%, compared with 36% for physical therapists. As you might expect, these persons assist the physical therapist, and make a very good median salary of $52,000 per year – with an associate's degree the only educational requirement. 

Financial advisors
This job is also one that encompasses clients of all ages, but is growing at the rate of 27% due to the retirement-planning needs of baby boomers. Additionally, financial advisors will be sought out more often as both private and public pension plans become less common, and workers will need alternative retirement planning services. 

A bachelor's degree in areas of expertise such as business and economics is often required, though more colleges are offering specialized courses as the occupation becomes more popular. With a four-year degree, the median 2012 pay was more than $67,000 – with the upper 10% making nearly $190,000 annually. 

With the baby boomers making up over 25% of the U.S. population and controlling 70% of the nation's wealth, occupations that cater to this generation are a sure way to guarantee a lucrative, satisfying work life – not to mention a comfy retirement.

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4 in 5 Americans Are Ignoring Buffett's Warning

Don't be one of them.

Jun 12, 2015 at 5:01PM

Admitting fear is difficult.

So you can imagine how shocked I was to find out Warren Buffett recently told a select number of investors about the cutting-edge technology that's keeping him awake at night.

This past May, The Motley Fool sent 8 of its best stock analysts to Omaha, Nebraska to attend the Berkshire Hathaway annual shareholder meeting. CEO Warren Buffett and Vice Chairman Charlie Munger fielded questions for nearly 6 hours.
The catch was: Attendees weren't allowed to record any of it. No audio. No video. 

Our team of analysts wrote down every single word Buffett and Munger uttered. Over 16,000 words. But only two words stood out to me as I read the detailed transcript of the event: "Real threat."

That's how Buffett responded when asked about this emerging market that is already expected to be worth more than $2 trillion in the U.S. alone. Google has already put some of its best engineers behind the technology powering this trend. 

The amazing thing is, while Buffett may be nervous, the rest of us can invest in this new industry BEFORE the old money realizes what hit them.

KPMG advises we're "on the cusp of revolutionary change" coming much "sooner than you think."

Even one legendary MIT professor had to recant his position that the technology was "beyond the capability of computer science." (He recently confessed to The Wall Street Journal that he's now a believer and amazed "how quickly this technology caught on.")

Yet according to one J.D. Power and Associates survey, only 1 in 5 Americans are even interested in this technology, much less ready to invest in it. Needless to say, you haven't missed your window of opportunity. 

Think about how many amazing technologies you've watched soar to new heights while you kick yourself thinking, "I knew about that technology before everyone was talking about it, but I just sat on my hands." 

Don't let that happen again. This time, it should be your family telling you, "I can't believe you knew about and invested in that technology so early on."

That's why I hope you take just a few minutes to access the exclusive research our team of analysts has put together on this industry and the one stock positioned to capitalize on this major shift.

Click here to learn about this incredible technology before Buffett stops being scared and starts buying!

David Hanson owns shares of Berkshire Hathaway and American Express. The Motley Fool recommends and owns shares of Berkshire Hathaway, Google, and Coca-Cola.We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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