Because that's where the money is, stupid.
According to a new study by The Conference Board:
- Baby Boomers (1946 and 1964) have 43.7 million households, and more than two-thirds of Boomers have discretionary income, with the highest average discretionary income, at $29,754.
- Two-thirds of Gen X-ers(1965 and 1981) have discretionary income, and the second-highest average discretionary income, at $22,562.
When we do the math, that means while there are only 29% more Boomer households than Gen X households, the average Boomer household has 32% more discretionary income than the average Gen X household. Or, put another way, for every $1.00 a Gen X household has in extra money to spend, a Boomer household has $1.32.
Wait a minute, you say. There are more Boomer households and they have more money per household to spend?
And now you know why we wrote the book. Class dismissed.