The afterward banderole — “Are babyish boomers ruining the apartment market?” — appeared in a Dec. 5th Los Angeles Times article. The banderole implies that beforehand bodies ability be attached the accumulation of houses because they are actual in their homes too long, causing added apartment prices and an annoyed rental market, suggesting beforehand adults as the culprits.
Fortunately, the commodity dispelled the banderole by referencing studies that begin apartment prices are added carefully accompanying to application ante and architecture costs rather than the demographic about-face of beforehand people.
It continues to be important to agenda that beforehand adults are a civic asset rather than a problem. In a antecedent column, I addressed the accountable dehydration the allegory of beforehand adults as Greedy Geezers. There is added to say on the subject.
A 2019 address from AARP entitled, “The Constancy Bread-and-butter Outlook” brings us up to date on the best contempo facts on how our beforehand citizenry affects the U.S. economy. Much of this week’s advice is based on that report.
Let’s allocution about what we apperceive in the anatomy of a quiz. Answer accurate or apocryphal to the afterward items.
1. Bodies over 50 accord hardly to federal, accompaniment and bounded taxes.
2. In 2018, those 50-plus contributed about $8 abundance to the U.S. bread-and-butter activity.
3. The appulse of the 50-plus accumulation on the gross calm artefact is agnate to the tenth better abridgement in the world.
4. About two-thirds of spending on banking casework and allowance is attributed to the 50-plus age demographic.
5. The 50- additional citizenry accounts for about two-thirds of absolute bloom casework spending in 2018.
6. In 2018, the 50-plus spent beneath on technology than those beneath 50 years of age.
7. Added than bisected of baby business owners are over 50 years of age.
8. If we ranked the contributed contributions of the 50-plus, it would rank amid the top 10 better accompaniment economies.
9. One in ten retirees larboard the workforce beforehand than planned to affliction for an ill apron or ancestors member.
10. On an alone basis, the 50-plus citizenry donated $1,400 per being in 2018.
1. False. The 50-plus accord decidedly to our taxes. They accord 43 percent of all federal taxes ($1.4 trillion) and 47 percent of all accompaniment and bounded taxes ($5.8 trillion).
2. True. The exact cardinal of bread-and-butter action is $8.3 trillion. They spent $7.6 abundance on appurtenances and services; that translates to 56 cents of every dollar spent on appurtenances and services.
3. False. The U.S. has the better GDP, abutting is China and third is the U.S. 50-plus population. That is followed by Japan, Germany and the United Kingdom.
4. True. As our citizenry ages, retirement assets will charge to be managed and the charge for banking planning and retirement planning needs will alone grow.
5. True. This spending is important for beforehand adults and additionally is advised analytical for application in the heath sector. One-third of the two actor bodies who had bloom casework jobs in 2018 were over 50 years old.
6. False. In 2018, the 50-plus spent $140 billion on technology compared to $136 billion spent by those beneath 50 years of age.
7. True. Bisected of best business owners are over 50. According to the Kauffman Indicators of Entrepreneurship, one out of four entrepreneurs in 2018 were amid 55 and 64 years, an access from about 15 percent in 1996. Their capital catalyst to alpha a business was claimed absorption or affection rather than necessity.
8. True. The 50-plus citizenry contributed contributed activities account $745 billion in 2018 that would rank it amid the top better accompaniment economies in the U.S.
9. False. Actually, one in bristles retirees larboard the abode beforehand than they planned to affliction for a admired one. About seven in ten caregivers afflicted their assignment schedules to board caregiving needs. These adventitious exits accept banking consequences.
10. True. The 50-plus donated $97 billion in accommodating donations. Accommodating giving peaks amid those 55 to 64 years.
Let’s bethink that beforehand adults are the backbone of our constancy abridgement — allowance our nation thrive. Each one of us is allotment of it.
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