Spending habits changing

It is well known over the next 20 years the baby boomers are going to change the demographic landscape in the United States. We don’t have to wait, however, to see how those changes may manifest themselves, at least when it comes to consumption of goods and services. The Media Audit conducted a survey and found 17.9 percent of all U.S. adults are retired, a 6 percent jump over five years ago. As a result, ownership and buying habits look like this, according to the report:

• More than eight in 10 retired adults own their own homes.
• More new-car purchasers are now retired – 13.1 percent versus 11.1 percent – than five years ago.
• Thirty percent of retirees have more than $100,000 in cash, stock and CDs, which The Media Audit says is the highest figure ever reported.
• Beer consumption is on the rise in the retired set, with 13 percent of frequent beer consumers enjoying their suds during the workday hours.
• Seniors are cooking less, too, with nearly 20 percent of all adults who dine out being retired.