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The baby boom generation and aggregate savings

Author

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  • Richard Cantor
  • Andrew Yuengert

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.

Suggested Citation

  • Richard Cantor & Andrew Yuengert, 1994. "The baby boom generation and aggregate savings," Quarterly Review, Federal Reserve Bank of New York, issue Sum, pages 76-91.
  • Handle: RePEc:fip:fednqr:y:1994:i:sum:p:76-91:n:v.19no.2
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    File URL: http://www.newyorkfed.org/research/quarterly_review/1994v19/v19n2article4.pdf
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    Cited by:

    1. Elder, Harold W. & Rudolph, Patricia M., 2000. "Beliefs and actions: expectations and savings decisions by older Americans," Financial Services Review, Elsevier, vol. 9(1), pages 33-45, 00.

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    Keywords

    Saving and investment;

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