Do grandparents spend too much? Are seniors the perfect advertising target? Read some factoids about money and babyboomers.
Here are some interesting snippets about Grandparent wealth and spending patterns when it comes to grandchildren. The info was pulled from an article by Monica Hatcher in the Miami Herald,
- Born between 1946 and 1964, the 78-million-strong boomer generation controls almost 75 percent of the country's personal wealth and last year was responsible for more than $1 trillion in consumer spending, according to the Bureau of Labor Statistics.
- The AARP says 32 million grand boomers are already spending twice as much annually on their grandkids than previous generations.
- Indeed, grandparents buy one of every four toys, four of every 10 baby books and one of five video games, according to data gathered by the GrandParent Marketing Group. Typically, grandparents purchase the largest and most expensive items on the mother's baby shower registry.
- Hatcher says, some grand boomers feel they need to make up for their own perceived failings as young parents -- moms might have drank alcohol or smoked, dads may have driven around with baby on his lap. Also, boomer parents were the first in a generation of mothers and father who both went to work
I don't know for sure, but seems to me part of why I spend money on my grandkids, and I don't spend anything near a trillion bucks, is I love to see them get excited. Another reason - I didn't have much in the way of discretionary income when my kids were growing up - I bought Christmas gifts in the 'last month's hot toy clearance aisle' at you-know-what-r-us or good books.
Seems to me, we worked hard to raise kids, thinking more about dangers, and accountability and consequences than about amassing material possessions. I had no time for drinking - and with kids underfoot, smoking funny weed was not even an option. I quit cigarettes long, long ago.
Now, I can ease up and be a great grandma, spend what money I have to please people I love, or I can sock it all away to pass on when I die. Now what fun would that be?
