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Shocking Stats About Boomers
Being a Boomer myself, I found these stats to be very interesting and true of other Boomer’s I know and decided that to share them with my audience — YOU.
1. Boomers control 70 percent of America’s disposable income
There are a couple of reasons for the boomers’ control of 70 percent of disposable income in the U.S., Ref. 2015 Baby Boomer Report by U.S. News.
In part, it’s because boomers who are still working are often at the top of their lifetime salaries, so they have more money to spend. Boomers have also had the time to accumulate wealth that they can spend, unlike Gen-Xers and millennials, who are in the midst of the most expensive years of their lives — with raising a family or just starting their careers, respectively.
2. Their spending is expected to increase by 58 percent over the next 20 years
Spending by individuals in the 50+ demographic is expected to rise to $4.74 trillion over the next 20 years, which represents a 58 percent increase, according to AARP’s Venture Capital Review in 2013. By comparison, the spending by Americans ages 25–50 is only expected to grow by 24 percent over the same timeframe. Considering the fact that advertisers seem to be chasing the millennial market (which is less likely to respond to traditional marketing), it seems that any brands are missing out…
