Today’s Boomer grandparents have a historically unique role in families and as consumers. Lori Bitter presents findings from her new book, The Grandparent Economy, that reveal how they’re changing spending patterns, adapting to new tech, and sparking a return to multi-generational households.
A recent study shows that a growing number of over 55s are contributing to their grandchildrens' university expenses, despite their own tightened purse strings. This is partly attributed to elevated tuition fees, which are now £9,000 per year.
A third of the 10,000 Boomers turning 65 each day are entering retirement single. The thought of being shipped off to live in a retirement home is unthinkable for many – but The Golden Girls Network offers house sharing for older single women who are still young at heart.
A struggling economy and tough job market have thrown adult generations back together under one roof. And from Whole Foods to Home Depot, retailers are adapting, creating inclusive experiences that offer mutual ground for all generations.
“I would rather live in a cupboard in Soho than in a mansion in Surrey,” says 50-year-old Vishnia. Urban retirees are embracing life after work as a chance to learn and explore. And owning 80% of the UK's net personal wealth, they can afford to. But what’s driving them to the city?