The “50+ Market”: A Few Fab Facts

As a woman over 50, I’m always on the lookout for some of the latest facts and figures about the demo I’m in. Here are some of the most recent. Get ready to be amazed.

• Americans 50+ control 70% of all US wealth, earn $2 trillion in annual income, own more homes than any other age group, account for 50% of all discretionary spending, and purchase 41% of all new cars.
• 16 million 50+ Americans exercise at least three times a week.
• People over 50 spend more per capita on groceries, over the counter and other health products, and travel and leisure than any other age group.
• Adults 50+ spend an average of $7 billion online annually (Source for all the above stats: SeniorNet).
• The 50+ demo represents 27% of the US population, and more than 50% of them live in the following nine states: California, Texas, New York, Florida, Pennsylvania, Illinois, Ohio, Michigan and New Jersey. (Source: US Census Bureau)
• Population of Americans over 50 using the internet in 2006: 58.2 million. Estimated population of Americans over 50 using internet in 2011: 68.3 million (Source: Tech Crunch)
• Adults 50+ account for 80% of all luxury travel spending (Source: Pew Internet and American Life Project).
• There are expected to be 57.8 million baby boomers living in the year 2030, 54.9% of whom will be female. (Source: US Census Bureau)
• 40 percent of people between 45 and 60 anticipate that their adult children will move back in with them; 30 percent anticipate that their parents will move in with them. (Source: Met Life)
• 14.2% of boomers are divorced. 12.6% of boomers never married. (Source: US Census Bureau)
• Four out of five boomers see work as playing a role in their retirement years, with only 20% anticipating retiring and not working at all (Source: AARP)
• And the most encouraging statistic of all: There are now 70,000 people over 100 years old. By 2050, demographers estimate there will be 834,000. (Source: University of Nevada)

 Pretty powerful group. Glad I’m a part of it.