This is from Smart Money’s list of “World’s Most Influential Players.”
With $14 trillion in assets and a proven willingness to spend, this group has been driving the economy. As the first wave turns 65 this year, many hope those wallets will keep opening.
Jane & Joe Boomer
They grew up watching The Andy Griffith Show, came of age during the tumultuous ’60s and bad-hair ’70s, raised their kids, and now…10,000 of them are hitting retirement age every single day, on average. But don’t think the 80 million-strong baby boom generation is going to go quietly to the land of canasta and early-bird specials. With a median age of 55, most boomers are not only still working, earning and saving; they’re also spending like crazy — buying some $2.6 trillion worth of stuff in 2009 alone. Indeed, the current crop of 45- to 64-year-olds spends 70 percent more than the same age group spent a decade earlier.
But while money is power, as the saying goes, that isn’t the only mark of their might: In the 2008 election, 65 percent of this generation reported casting a vote (a much greater proportion than that of most other age groups). And in 2012, experts say, it will be boomers, again, who decide who makes the rules.”