Economic Changes Alter How Baby Boomers Spend Their Money

The National Center for Policy Analysis investigated the spending habits of baby boomers to see if they are hurting their chances at a comfortable retirement.  The study compared the spending habits of today’s middle-aged and older workers with the spending habits of those age groups 20 years ago.  

The study found that due to the current economic situation, boomers are spending a lot more money on education, health care expenditures, their adult children, and mortgage debts.  Baby boomers are not spending more on entertainment or dining out.

See Halah Touryalai, Baby Boomer Spending Habits: Here’s What’s Really Hurting Their Retirement, Forbes, Oct. 15, 2012.  

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.