A couple of interesting stats from a survey of Canadian baby boomers. First, of those who kept track, they decreased their spending by 30% the first year of their retirement. Of course, that's the ones who kept track of their spending. They'll tend to be the more fiscally responsible ones. The others are probably out buying miatas, gold-plated golf clubs and world cruises. The other stat is just as concerning: 75% of yet to retire respondents project that will just just get by when retired.
When baby boomers retire (starting now) you can expect a big drop in consumer discretionary spending.
Tuesday, January 19, 2010
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