Here’s the real picture. Americans 50 and over...
Own more homes than any other age group
Purchase 41 percent of all new cars
Spend 74 percent more on a typical vacation than 18- to 49-year-olds
Enjoy more than $2 trillion in income
Sixteen million of us exercise at least three times a week
Control 70% of all wealth in the United States
Have more disposable income than any other age group
Are lost without tour computers (84%)
Spend 74% more on vacations than any other age group
Spend more on groceries, health products and leisure than other age groups
From AARP's Grandparent Information Center, August 2002
·The average grandparent spends about $500 a year on the grandkids. ·Two in Five shell out between $500 and $2,500. ·Half say they help pay for their grandchildren's education ·Forty-five percent say they assist with living expenses. ·Fifteen percent provide some level of daycare for their grandchildren - up from 8 percent in 1998 ·Seventy percent of grandparents see their grandchildren at least once every week or two.
Mature Americans Are:
Spending by older Americans has increased in recent years. Householders over 65 spent 12 percent more in 1999 than in 1990; and those over 55 increased spending by 6 percent. This is in contrast to the 2 percent increase for the average household.
What are they spending more on?
·Alcohol, perhaps because they spend more time in leisure activities. ·Furniture...many are moving to smaller homes or relocating to sunnier climes. ·New cars and trucks...trading in the old "family" cars for something more suitable for smaller households. ·Entertainment, due to more free time. ·Gifts...mature people spend millions on their grandkids ·Health care, including health insurance. ·Personal and household services such as housekeeping, spa visits, yard maintenance, pool upkeep, etc. ·Coffee! Turns out that people between 55 and 64 are the most devoted coffee drinkers. ·Recreation vehicles...they are on the road. ·Vacation homes, airfares, ship fares, hotels. ·Reading...seniors still love their print publications more so than online