Journal Article

The baby boom generation and aggregate savings

Abstract: Many analysts predict a resurgence in national savings as baby boomers approach retirement. This analysis of demographic trends and survey measures of savings and income suggests that such expectations may be ill founded. Although baby boomer saving rates will likely rise over the next twenty years, aggregate saving may not increase because other, low-saving age groups will be claiming an increasing share of the population. Moreover, despite a reputation for free spending, many baby boomers have accumulated substantial savings already and may not raise their saving rates aggressively in their later years.

Keywords: Saving and investment;

Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Quarterly Review

Publication Date: 1994

Volume: 19

Issue: Sum

Pages: 76-91