Boomers: 26 Percent of the Population, 40 Percent of the Economy

Can you spot the $207,744 difference between these identical homes?

Financing is the difference!

Get the details in The 62+ Loan Homebuyers Guide.

55places Mortgage is a joint venture between Mutual of Omaha Mortgage and 55places.com.
Details here.

Subscribe to Our Newsletter

Get Weekly Updates

I agree that 55places and its affiliates, partner providers or agents may call, text, or email me about my inquiry, which may be made with automated means. I understand that my consent is not a prerequisite for buying a property. I may revoke my consent at any time by contacting optout@55places.com. Message/data rates may apply. I also agree to 55places.com’s Privacy Policy and Terms of Use.

Baby Boomers support the economy in a wide variety of ways, such as by making generous purchases for their grown children and grandchildren.
asdfasdf
Baby Boomers support the economy in a wide variety of ways, such as by making generous purchases for their grown children and grandchildren.

Baby Boomers grew up during periods of dramatic social change and they are often known as being a generation of trendsetters. Yet Baby Boomers may not realize that they are the single largest economic group in the United States. They have more discretionary income and their spending habits can greatly effect the changing economy.

According to Baby Boomer Magazine, the Baby Boomer generation currently has more discretionary income than any other age group. They control most of the net worth of American households and they account for 40 percent of total consumer demand. Baby Boomers have been known to revitalize areas when they move in and build new homes. They support their own local communities as they pay for their home utilities and buy gas for their cars. They tend to eat out more than younger people, which supports local restaurants, and take advantage of many services such as spa treatments and salon visits.

Baby Boomers also travel more than other age groups, supporting cities and towns throughout the country as well. Marketing campaigns frequently target Baby Boomers and their spending has often been a boon to the economy. This is particularly important during economic downturns when spending can support local businesses and help stimulate the general economy.

However, some experts wonder how trends will change as this spending generation continues to mature. Baby Boomers are reaching the ages when they are inclined to spend less on accumulating more “stuff.” Having already filled their homes and raised their families, Baby Boomers often turn more toward buying experiences than physical items. This may mean that their spending will continue to turn toward travel, dining out and activities like golf, tennis or lifelong learning classes. Sporting events, concerts and other live performances are other experiences which Baby Boomers now enjoy as part of an active adult lifestyle.

Of course, Baby Boomers who no longer buy many items for themselves are still likely to spend money on their loved ones. As empty nesters become grandparents, they tend to turn their spending power toward gifts for their grandchildren. Some retired Baby Boomers even take on babysitting responsibilities which leads to spending on family-friendly activities like trips to zoos and amusement parks. Though Baby Boomers are the country’s single largest economic group, they may not be aware of how their spending affects the rest of the economy. Even financial experts may not yet know just how the economy will be affected as Baby Boomers mature and continue to change their spending habits.

Can you spot the $207,744 difference between these identical homes?

Financing is the difference!

Get the details in The 62+ Loan Homebuyers Guide.

55places Mortgage is a joint venture between Mutual of Omaha Mortgage and 55places.com.
Details here.

We're here to help! (800) 928-2055

Call us to speak with a customer service representative.

Subscribe to Our Newsletter

Get Weekly Updates

I agree that 55places and its affiliates, partner providers or agents may call, text, or email me about my inquiry, which may be made with automated means. I understand that my consent is not a prerequisite for buying a property. I may revoke my consent at any time by contacting optout@55places.com. Message/data rates may apply. I also agree to 55places.com’s Privacy Policy and Terms of Use.

The downtown city skyline at dusk on the Cumberland River in Nashville, Tennessee.

Nashville Retirement Communities: Find Your Ideal 55+ Haven

Nashville retirement communities offer easy access to this exciting urban setting as well as outdoor recreation in a four-season climate. If you’re considering retiring in the Nashville area, then check out these 55+ communities.

Exploring the Del Webb Communities in Tennessee

Tennessee has excellent appeal for all kinds of lifestyles and tastes. Active adults who like to spend time outdoors will find solace in state parks and urbanites love access to cities like Nashville and Memphis. Buyers who want to move to a 55+ community in TN, Del Webb is behind two communities in the state.

A side-by-side image of Charlotte, North Carolina and Nashville, Tennessee.

Charlotte vs Nashville: Which Is Better for Your Retirement?

While these cities share pleasant climates, big-city entertainment, and historic charm, each offers plenty of unique features to consider. Take a closer look at the similarities and differences between the retirement destinations of Nashville and Charlotte to help you decide which city best meets your needs.

The resort-style pool at Brightmore at Wellen Park in Venice, Florida

New Active Adult Communities Added to 55places.com

In this comprehensive roundup, we bring you the latest additions to 55places.com—a trusted resource for exploring active adult communities. Over the past 30 days, several new communities have joined the ranks, each offering different amenities and locations.

View of the Cumberland River and Downtown Nashville, an attractive place to retire to Tennessee.

Why You Should Retire in Tennessee

Whether you want to live in a city like Memphis or you want a small town like Jonesborough, you’ll find the ideal place to settle down in the Volunteer State. Tennessee has plenty of things to do, and here are five reasons why we think you’ll love it!

About 55places

We’re changing the way people 55 and older are searching for their perfect next place. With a national network of hand-selected real estate experts, plus comprehensive information, unbiased content, and on-the-go insight about thousands of communities across the country, we’re a trusted resource paving the way from here to home. Whether you’re interested in a low-maintenance single-level residence, an active lifestyle or age-qualified community, an intimate enclave, or anything in between, we can help you make your next move the best one yet.

Scroll to Top