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Where do baby boomers spend their money?

Baby boomers, who spend an average of $45,654 a year, are a large demographic becoming more and more attractive to marketers.

Here's what boomers buy, compared to the general population, as reported in on NorwichBuletin.com:

  • Tableware: Older boomers, born before 1956, spend 50 percent more than average on china and silverware.
  • Clothing: Older boomers spend 13 percent more than average on women's apparel and 11 percent more on men's.
  • Health: Fifty-five to 64 year olds pay 6.9 percent of their income on health care, while younger boomers pay less than 5 percent.
  • Vacation lodging: Older boomers spend 23 percent more than average on hotels and vacation homes.
  • Insurance: Older boomers spend 20 percent more than average on life insurance and other personal insurance policies.
Copyright 2008, Rita R. Robison, Consumer Specialist

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