Baby Boomers “Most Valuable Generation”

Baby Boomers “Most Valuable Generation”

Posted On February 21, 2013

While everyone seems focused on capturing the attention of Millennials, the Baby Boomers are still the “most valuable generation,” according to a Nielsen report. Over the next five years, Boomers are expected to account for 50% of all consumer spending and to control 70% of all disposable income, according to Nielsen. Fueled by aging Boomers, the over-50 cohort will account for 50% of the population in 5 years. That age group is growing at 3 times the rate of the coveted 18-49 demographic. Still, it accounts for only 5% of advertising. Boomers stand to inherit $15 trillion over the next… Read More

Categories: Advertising, Baby Boomers, Blog

Millennials, Gen Xers Most Concerned about Spending, Saving, and Investing

Posted On February 20, 2013

The two youngest generations, Millennials and Generation X, are the ones most concerned about their spending, saving, and investing, according to a TD Canada Trust survey.  In contrast, 80% of Boomers feel they are managing their money well, even if 56% feel they don’t have enough of it. Millennials are most likely (65%) in the survey to worry that they are spending too much, compared with 56% of Xers and 44% of Boomers. Millennials are also most likely (55%) to want to learn more about finance and money management. Meanwhile, Generation X has the most competing financial concerns, including retirement… Read More

Categories: Baby Boomers, Financial Services, Generations, Wealth, Work

Millennials are Conservative, Wary Investors

Posted On February 14, 2013

Millennial investors are more conservative and less trusting than other generations of investors, according to a recent Accenture survey. 43% describe themselves as conservative and say they prefer (27%) the “tried and true” compared to 31% and 19% of Boomers, respectively. Millennials are also much more likely to consult other sources and not rely solely on the advice of a financial professional (28% vs. 7% of Boomers). 44% of Millennials say they do a lot of independent research before deciding to buy or sell. The good news for financial advisors: over 40% of Millennials say they are determined to build… Read More

Categories: Blog, Financial Services

Millennials Are Stressed Out

Posted On February 13, 2013

According to a survey for the American Psychological Association (APA) by Harris Interactive, Millennials are the most stressed out generation.  A majority of Millennial adults report symptoms like difficulty sleeping that are usually related to stress. 40% report their stress has shot up significantly in the last year, compared with a third or less of older generations. Millennial unemployment is above 13% and over half of Millennial college graduates are in jobs that do not require a degree, which could account for some of the stress. Not surprisingly, Millennials are most stressed out by work (76%) and money (73%). Close… Read More

Categories: Recession Economy, Training Industry

Wealthier Boomers Want More Advice

Posted On February 7, 2013

The wealthier the Baby Boomer, the more likely he or she will seek financial advice, according to an analysis by Millionaire Corner. Meanwhile, middle income or “Mass Affluent” (net worth between $100K and $1M) are more likely to self direct their finances. Only a quarter high net worth Boomers (>$5M) self direct their investments even though, as a group, they consider themselves very knowledgeable about finance. Meanwhile, 40% of the Mass Affluent group calls their own financial shots even though only 7% consider themselves “very knowledgeable.” Mass affluent are also the most likely (32%) to use an advisor on an… Read More

Categories: Baby Boomers, Financial Services, Wealth

Gen X Focused on Retirement Saving, Millennials Not So Much

Posted On February 5, 2013

Nearly half of Generation X (46%) cites retirement as a top-10 reason for saving and investing but less than a third of Millennials see it the same way. So says a new survey by LIMRA that assessed the younger generations’ attitudes about saving and investing. While Xers seem to focus more on their retirement needs as they inch closer to that milestone, Millennials aren’t there yet. They cite travel and vacations ahead of retirement as motivations for saving and are more likely to save up for cars and household purchases than Xers. In addition to retirement, Xers cite home improvements… Read More

Categories: Financial Services, Work