Older Americans, Flush With Housing and Stock Wealth, Poised to Revive Spending

“We have this big [older] demographic, their wealth went up tremendously these past two years,” he stated, including that with “much more available cash on hand, it’s quite likely they’re going to boost consumer spending, particularly on experiential categories they’ve not been able to patronize the last two years” like eating places and lodges.

The variety of Americans who’re 65 or older increased by more than a third within the decade by way of 2019, in accordance to the Census Bureau. They accounted for practically 17% of the inhabitants in 2020, a share that’s expected to rise to more than 20% by 2030.