Younger Baby Boomers Hurt Most by Recession
The economic climate of the past few years has been tough on everyone, but not everyone is coming out of the recent recession on equal footing. A study done by the market research firm Mintel shows that for those ages 45-54 (younger baby boomers and older Gen Xers) the recovery will definitely take longer.
A full 39 percent, the highest in any age group, say they worry more about retirement now than ever before. Also, 47 percent of that group (vs. 33 percent overall) say they "have only been spending money on necessities" for at least a year. And then there's the 51 percent of this age demographic (compared to 44 percent overall), who say they intend to permanently decrease the amount of unnecessary "stuff" they will buy in the future.