baby boomers

PHOTO: Bevan Geissmann (third from left) with residents of Halcyon Lakeside.ABC News

Key points:

  • Australia is undergoing a significant demographic shift
  • The baby boomer generation is retiring, with 5 million passing the age of 65
  • Australians are having fewer babies but booming immigration is having a significant impact on the economy

Baby boomers are retiring in record numbers and providing for their needs is proving to be one of the few economic bright spots.

It was such a big opportunity that Bevan Geissmann gave up his suburban medical practice to develop luxury homes for retiring boomers.

“I was a GP in a local town halfway between Brisbane and the Gold Coast,” he told 7.30.