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Sunday, May 25, 2008

The Economic Slowdown's Impact on older Americans


A few blog posting back I wrote about the connection between age and financial robustness. To illustrate how difficult it is to be precise about this subject have a look at this recent report from AARP that analyses the response of older Americans to the economic slowdown. You can download the full report from here.

The above chart shows the most often reported changes in behaviour.

Now this type of reporting must come with a big health warning. It provides an ‘average’ measure of reaction but companies don’t always sell to ‘average’ consumers. Your target market might be like the UK’s Charmed Generation who are delighted with high interest rates and the housing slowdown. Their savings are getting a better rates of return and their property investments are pulling in record levels of rent.

Clearly a lot of people are hurting, of all ages. That is what is called a recession. Let's hope it doesn't last for long! Dick Stroud

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