Sunday, October 28, 2012

What are American Boomers spending their money on

Using data from the Bureau of Labor Statistics’ Consumer Expenditure Survey, it is possible to compare the preretirement spending habits of today’s Americans in the age group 45 to 54 years old and those 55 to 64 with the spending habits of those age groups 20 years ago. What, if anything, changed over the past 20 years?

If you want the detail then I suggest you download the report from the National Centre for Policy Analysis.

The findings are fascinating. The bottom line is this - the big increase in spending is on funding of their children and debt repayment. Dick Stroud

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