Baby Boomers and Finance - US - November 2015
Overview
 
What you need to know 
Financial services institutions may be focusing a lot of attention on Millennials, but Boomers are still a very influential group. According to the US Bureau of Labor Statistics’ Consumer Expenditure Survey, Boomers earn an estimated $2.4 trillion each year, accounting for 42% of all after-tax income. According to the “2015 Baby Boomer Report” from US News and World Report, Boomers control 70% of the disposable income in the US. They are not a homogenous group, however, as many of the oldest Boomers have entered retirement and the youngest Boomers are still working. Regardless of their age, however, Boomers are determined that retirement will not be the same for them as it was for their parents, as Boomers are generally healthier and more active than their parents were at their age. This report examines how the Boomers feel about retirement: how much they have saved for it; their plans for how to live it; and their major concerns about retirement life.

Definition 
For the purposes of this report, Mintel has used the following definitions: 

●	Baby Boomers – those born between 1946-64 (aged 51-69)
●	Early Boomers – those born from 1946-55 (aged 60-69)
●	Late Boomers – those born from 1956-64 (aged 51-59).