50+ SPENDING POWER
Adults 50+ are engaged, active and fulfilled – a serious show of wealth and spending power.
Adults 50+ are the largest demographic in the United States. In fact, those numbers will only continue to climb with projections indicating the number of Americans aged 65 or older will hit 88.5 million by 2050, or more than twice the 2010 projection of 40.2 million.
The growing 50+ population is a silver lining for companies and entrepreneurs looking to grow their business.
- According to the International Council of Shopping Centers, Americans aged 55 and older control more than three-quarters of the nation’s wealth.
- Figures provided by the U.S. Census and Federal Reserve indicate the 78 million Americans who were 50 or older in 2001 controlled 67 percent of the nation’s wealth, or about $28 trillion.
- The Economic Policy Institute contends Boomers and older seniors have experienced a decrease in their median family net worth in recent years, yet those figures outpace the net worth of younger generations three-fold.