Today's 50-plus adults account for:
- More than $2 trillion in income
- Over 50% of discretionary spending power - 2.5 times average per capita
- 80% of personal wealth in financial institutions
- 50% of all discretionary income - $13,286 per household
- Own over 70% of the financial assets in America
- Control nearly $9 trillion in net worth of U.S. households - 70% of the total
- Represent 40 million credit card users, owning almost 50% of the credit cards in the U.S.
- The 50-plus purchase 41% of all new cars, totaling more than $60 billion
- 50-plus adults purchase 48% of all luxury cars
- 16 million 50-plus adults exercise at least three times per week
- Fitness activity participation is rising most rapidly among those over 45
- From 1987 to 1995, the number of 55-plus health club members jumped 119%; the number of 65-plus members jumped 669%
- 50-plus adults represent over $525 billion per year in direct healthcare spending today; this will grow to $1.1 trillion per year by 2007
- The 50-plus consume 74% of all prescription drugs, a $100 billion market
- The 55-plus spend $467 per capita on prescription drugs, more than double the average They account for 51% of all over-the-counter drug purchases
Housing
- Over 79% of all 50-plus own their own home - by far the highest rate of any age group
- 67% of these are mortgage-free
- 60% of 50-plus have remodeled their home
- Today's 50-plus adults represent 80% of all luxury travel
- They spend 74% more on a typical vacation than 18-49 year olds
- They account for 65% of all cruise trips
- They average 4.8 nights per trip, compared to 3.9 nights for travelers overall
- The 50-plus travel further distances than any other age group on an average trip
- They spend 40% more time vacationing in their 50's than they did in their 40's
Comments(1)