A great article by the Atlantic that highlights how the US retirement asset landscape is changing as the Boomers become the first generation on the planet to get to age 60 and still see a long runway ahead. The numbers speak for themselves: Boomers’ annual spending power of $7.1 trillion is estimated to hit $13.5 trillion by 2032.
Now, boomers’ kids are having kids of their own, and for the first time in decades, boomers are finding themselves dependent-free, once again able to focus on themselves. This is a generation entering its twilight years, whose primary concern is quality of life, and it controls, by some estimates, up to 75 percent of America’s wealth. So how are boomers spending their retirement savings? Partially on the realities of life—health care, mortgages, millennial children—but also on living out the fantasies of their youth.