Did you know this about our 50+ residents?
- Pennsylvania ranks in the top five states with the highest proportion of people age 65 and over.
- The spending power of the boomers’ $2.1 trillion dollars easily outranks the younger generation’s $170 billion.
- People over the age of 49 eat out more than any other age group, about 3 times a week.
- Over 77% of all financial assets in America are owned by the over 50 crowd.
- Since 1989, automobile spending among consumers age 65 and older has surged between 15% and 18%, while shoppers under 55 have scaled back.
- The 65+ population is projected to increase 147% between 2000 and 2050?
- More than 60% of households headed by 65+ year old members have at least six-figures of wealth, and more than 10% are into the seven figures.
- The older population accounts for 80% of the luxury travel population.
- They spend $30 billion on grandchildren
Why women are a force of power …
- In 2015, women held 51.5% of all management, professional, and related occupations and 43.6% of the subcategory management, business, and financial operations occupations.
- About 51 percent, or $14 trillion, of American personal wealth is now controlled by women
- Women account for 85% of all consumer purchases:
- 65% of car
- 80% of healthcare
- 89% of bank account selections
- 91% of new homes
- 92% of all luxury travel
- 93% of OTC medicines
- 93% of food/services
- The majority of caregivers are female (60%)
- Women-owned businesses now comprise 38% of the business population,
- About 38% of women have a bachelor’s degree or higher, while only about 30% of men do.