Baby Boomers Retirement Network Blog

Boomers Are Cutting Spending

When baby boomers spend, America listens.  The same holds true when they don’t.  According to a recent Gallup Poll, baby boomers’ reported average daily spending has decreased to $64 from an average of $98 in 2008.  And they’re not alone.  All of five categories of adults (the “Greatest,” born before 1930, the “Silent,” born 1931-1945, “Boomers,” born 1945-1964, “Gen X,” born 1965-1979, and the “Millenials,” born 1980-1991) have reduced their spending.  But the boomers are by far the biggest group, representing 36% of adults in America, so they have the biggest impact on the economy.

See charts and further explanation on the Gallup Poll Web Site: http://www.gallup.com/poll/122546/Boomers-Spending-Generations-Down-Sharply.aspx

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