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“By 2015, Baby Boomers will generate 53% of disposable income,
account for 54% of consumer spending and hold 83% of the nation’s net worth.”
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An Increase in Buying Power
The exponential growth of the baby boomer population, compounded by their buying
power, could cause a significant shift in leisure and retail spending. According
to a 2008 Mckinsey Global Institute report, baby boomers represent the wealthiest
generation in the U.S., with an estimated annual spending power of more than $3.5
trillion.
By 2015, baby boomers will generate 53% of disposable income, account for 54% of
consumer spending and hold 83% of the nation’s net worth. In 2000, the average American
retiree was 62 years old and had a life expectancy of 20 to 22 more years. Over
the next 20 years, baby boomers are expected to double the number of retirees. CNL
Lifestyle Properties believes as baby boomers get closer to retirement, they will
have more time to spend on themselves and their families, resulting in more demand
for shopping, traveling, golfing, skiing, boating, and other lifestyle and leisure
activities preferred by this demographic.
* Source: U.S. Census Bureau, 2010 data
extrapolated from 2000 Census
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