The Baby Boomer Generation

ECONOMICS OF THE 88 BABY BOOMER GENERATION truaxis Boomers are entering "retirement age"- but are they ready to retire? What impact do baby boomers have on the economy and how does the economy impact them? Learn how this generation is growing into retirement and see what the future may hold for them. HOW MANY BOOMERS ARE THERE? each icon represerits 1 million 1946-1964: the birth years of baby boomers When the last boomers reach 65 at the end of 2029, There are 80+ million baby boomers, nearly two times more than Gen X there will be 72 million senior citizens in America. 72.000,000 10,000 boomers will turn 65 every day for the next 19 years EMPLOYMENT & RETIREMENT FACTS Boomers earn about 47% of all income in the US: $4,000,000,000,000 Average boomer household income Age 65+ workers have doubled since 1990 % of law firm partners who are boomers 70% $53,000 1990 2011 In 2011, a time of stock market instability, over 30% of li Americans in their 60s invested over 80% of their 401(k) in equities. Baby boomers who plan to keep working as long as they physically can Baby boomers who are unemployed Americans 65+ who live nearly exclusively off of Social Security payments FOUR MILLION 40% 35% 66% of Americans rate financial inability to retire as their biggest money woe – compared to only 53% in 2001 SPENDING & SAVING HABITS Boomers represent 40% of consumer demand, making them the largest consumer group in the US Average discretionary income: $29,754 highest of any age group Only 49% of boomers plan to leave an inheritance for their children The rest want to spend their savings on themselves before they die "each dollar bill represents $1000 24% of boomers have nothing saved for retirement, however, they own 80% of all the money in savings and loan organizations $$$$$$$$$$$$$$$$$$$$ What are boomers buying? (% of total sales) 25% of Vespas 25% of Toys 37% of Spa Memberships 43% of Domestic Cars 48% of Luxury Cars 80% of Luxury Travel SOURCES http://sparxoo.com/2010/03/02/examining-baby-boomers-stats-demographics-segments-predictions/ http://www.msnbc.msn.com/id/35675368/ns/business-cnbc_tv/t/aging boomers-face-stark economics/#.TuEtzbloOzk http://adage.com/article/adagestat/baby-boomers-millennial-moms-boost-recovery/229295/ http://www.whatsnextinyourlife.com/ pdf/WhatsNextinYourLife_BoomerFastFacts.pdf http://www.reuters.com/article/2011/11/03/us-usa-retirerment-crisis-idUSTREZA25GM20111103 http://endoftheamericandream.com/archives/in-2011-the-baby-boomers-start-to-turn-65-16-statistics-about-the-coming-retirement-crisis-that-will-drop-your-jaw http://www.babyboomer magazine.corm/news/165/ARTICLE/1217/2011-10-03.html http://www.retailonlineintegration.com/article/conference-board-report-shows-americans-have-money-spend-82011/1 http://articles.latimes.com/2011/sep/05/business/fi-la-boomer-inheritance-20110906 http://www.csa.us/email/spirit/ssarticles/1011Moneyp.html http://www.comingofage.com/wp-content/themes/coalarticles/Consumer-Behavior-Marketing.pdf http://blog.quaintise.com/marketing online to-baby boomers/ http://online.wsj.com/article/SB10001424052748703321004575427881929070948.html