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Baby Boomers Still Leading Economy
Baby Boomers have recently been overtaken by Millennials as the largest generation in America, but Baby Boomers still hold most of the wealth. To add to this, Millennials hold a lot of debt from education and are entering the work place in the wake of the recent Great Recession. This leaves Baby Boomers controlling 70% of America’s disposable income; however, while Boomers entering retirement are toning down their spending in a few key areas like transportation and housing, it’s clear they are ramping up spending in travel and health care. For more information visit this article by Nancy Melear with Fox Denver.
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