Wealth Between Boomers and Gen X
Bank of America report I told you about. It reports older Americans are splurging on travel, dining out spending more on housing and basics, in an unusual and growing generational gap in between them and millennial. We are talking a big difference. Their data reflects a widening split in spending habits between working-age adults and retirees. Baby boomers (roughly ages 59 to 77) and traditionalists (ages 78 to 95) in every income group are outspending their younger counterparts. Many of those gains were concentrated in leisure spending, such as travel and hotels. What to data grabbed my attention…there are some huge wealth discrepancies between Baby boomers and millennials. It reported boomers roughly $73 trillion in wealth at the end of last year, eight times as much as Millennials. That according to Federal Reserve data. That translates to an average net worth of $1.7 million for baby boomer households, compared with $214,000 for millennials. Wealth Disparities Between Boomers and Gen X Oh how it’s all changing! Young go getter Bennett Kim, CEO of ZNest has a better way at discovering retirement living. Speaking of retirement living, we check in at the famous Villages in Florida and another smoothie recipe from Mimi’s Kitchen
