Demographic Group: Baby Boomers
Baby Boomers consist of those born between 1946 and 1964. Depending on the source, the cohort accounts for 78-81 million adults. The Insured Retirement Institute (2012) reported that "between now and 2029; U.S. Baby Boomers will turn 65 at a rate roughly 7,000 per day."
"As more Boomers age out of their prime income earning years, they will move from a life dedicated to making money to one that is directed to spending money" (Nielsen & BoomAgers, 2012). TVB (2011) and eMarketer (2011) both place the Baby Boomer spending power over $2 trillion.
Nielsen & BoomAgers (2012) research noted that "in five years, close to 50% of the U.S. adult population will be 50 and older and they will control 70% of the country's disposable income. They stand to inherit $15 trillion in the next twenty years."