Boomer Market - $2 Trillion
In 2000 households with someone in the 55-64 age group, there was a reported [according to a Gallup Poll,] median net worth of $112,048 - about fifteen times the $7240 reported for under-35 adults. Annually, boomers spend around $2 trillion on goods and services, and by 2010, they will outspend younger adults by $1 trillion.
- DanMedlin's blog
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Discount that by 35-50%
Discount that by 35-50% depending on investment mix because of the recent "greed implosion." The result of the greed along with the "declines" in the equity markets will very likely freeze housing for some time to come and dramatically impact on "boomer's" ability to retire. If you take that a bit further, with "boomer's" working longer, there could be a downward push on jobs for 40-55age group since us oldsters with more experience are going to stay in the job pool.
Net worth is now "net/net" worth and you can blame it on the "greed implosion." The tip of the ice berg came about 18 months ago when BNP Paribus, a French bank, pulled back from making interbank loans. Check the facts, that's when it all started.