Over the years, baby boomers have accumulated a lot of wealth. Indeed, they’ve accumulated half (52%) of all the net wealth in the U.S. worth a total of $76 trillion, according to Federal Reserve data.
So why are baby boomers so tight with their money?
“The big question we’re looking at isn’t why baby boomers aren’t spending a lot. It’s why they’re not spending very much at all,” says Colin Williams, a senior economics writer at The Economist, on the podcast. In answer to that question, The Economist identified three main factors that have led to this phenomena.
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RandyMarsh